A. Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act, no ATM shall be owned or leased by a person other than an in-state financial institution. B. Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act, no POS terminal shall be operated by any person other than a merchant or an in-state financial institution. History: 1978 Comp., § 58-16-11, enacted by Laws 1990, ch. 123, § 11; 1991, ch. 120, § 9; 1995, ch. 190, § 17; 1996, ch. 2, § 30. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990. The 1996 amendment, effective June 1, 1996, rewrote the section heading, deleted 'having its main office, a manned branch office or any other authorized branch in the county in which the ATM is located' from the end of Subsection A, and deleted Subsection C relating to owning and operating off-premises ATM machines. The 1995 amendment, effective June 16, 1995, added Subsection C. the ATM is located' from the end of Subsection A, and deleted Subsection C relating to owning and operating off-premises ATM machines. The 1995 amendment, effective June 16, 1995, added Subsection C. The 1991 amendment, effective June 14, 1991, in Subsection B, substituted 'operated by any person other than a merchant or an in-state financial institution' for 'owned or leased by any person other than' and former Paragraphs (1) and (2), pertaining to ownership by financial institutions and merchants.
New Mexico Legal Code