No officer or employee of the division having supervisory authority over credit unions shall be a member, executive officer, director, attorney or employee of any credit union incorporated under or subject to the provisions of the Credit Union Act; receive, directly or indirectly, any payment of gratuity from any such credit union; or be indebted to or engage in the negotiation of loans for others with any such credit union. History: Laws 1987, ch. 311, § 9; 1991, ch. 51, § 4; 1997, ch. 195, § 5. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed former 58-11-9 NMSA 1978, as amended by Laws 1975, ch. 344, § 9, relating to disposition of fees, effective June 19, 1987, and enacted a new 58-11-9 NMSA 1978. Laws 1987, ch. 298, § 3, purported to amend former 58-11-9 NMSA 1978 but could not be given effect because of the subsequent repeal by laws 1987, ch. 311, § 9. The 1997 amendment, effective July 1, 1997, substituted 'Credit Union Act' for 'Credit Union Regulatory Act'. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. 1997, substituted 'Credit Union Act' for 'Credit Union Regulatory Act'. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. The 1991 amendment, effective July 1, 1991, inserted 'executive' and substituted 'attorney or employee' for 'or attorney'.
New Mexico Legal Code