Section 58-1-78 - Unlawful service as officer or director. - New Mexico Statutes

58-1-78. Unlawful service as officer or director.

It is unlawful for any person to serve as an officer or director of a bank, who:   

A.     is an officer, director or employee of a directly competitive bank in the same community;   

B.     has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or   

C.     is indebted to the bank for more than thirty days upon a judgment that has become final.