Section 58-9-4 - Certificate required. - New Mexico Statutes

58-9-4. Certificate required.

No person, legal entity or corporation shall engage in the trust business without first obtaining a certificate from the commissioner; provided, however, that a bank having its principal office in this state or an out-of-state bank not having an established office in this state otherwise authorized under state or federal laws to engage in the trust business or a savings and loan association having its principal office in this state acting as trustee or custodian under the provisions of Section 58-10-35 NMSA 1978 may engage in such business to the extent permitted in that section without obtaining a certificate under the Trust Company Act [58-9