A credit union may exercise all incidental powers that are convenient, suitable or necessary to enable it to carry out its purposes as provided in its bylaws. History: Laws 1987, ch. 311, § 19; 1997, ch. 195, § 14. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-19 NMSA 1978, as amended by Laws 1975, ch. 344, § 17, relating to loans, effective June 19, 1987, and enacted a new section. The 1997 amendment, effective July 1, 1997, substituted 'its bylaws' for 'the bylaws' at the end of the section. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
New Mexico Legal Code