N.M. Stat. § 58-1-52
§ 58-1-52. Incorporators
Year: 2026Length: 62 words
A state bank may be organized by five or more individual incorporators or a bank holding company subject to the requirements of the Banking Act. A majority of the incorporators shall be residents of the state. Each incorporator shall subscribe and pay in full in cash for stock having a value of not less than one percent of the authorized capital structure.