N.M. Stat. § 58-10-57
Transfer of savings accounts.
Savings accounts are transferrable [transferable] only on the books of the
association upon presentation of evidence of transfer satisfactory to the association,
accompanied by application for transfer by which the transferee agrees to accept the
account subject to the terms and conditions of the savings contract, the bylaws of the
association and the provisions of its charter. The association may treat the holder of
record of a savings account as the owner for all purposes without being affected by any
notice to the contrary unless the association has acknowledged in writing that a pledge
of the savings account has been made.