Section 7-8A-26 - Foreign transactions. - New Mexico Statutes

7-8A-26. Foreign transactions.

The Uniform Unclaimed Property Act (1995) does not apply to:   

(1)     property held, due and owing in a foreign country and arising out of a foreign transaction;   

(2)     funds in a member's share account in a credit union if the bylaws of the credit union provide for unclaimed funds to be used for educational or charitable uses; and   

(3)     patronage capital or other tangible ownership interest in a rural electric cooperative, a telephone cooperative, a water cooperative or an agricultural cooperative, if the bylaws of the cooperative provide for unclaimed patronage capital to be used for educational scholarships or other charitable uses.