N.M. Stat. § 58-4-11
Nonconforming assets or business.
If a merging, converting or selling bank has assets which do not conform to the
requirements of state law for the resulting or purchasing state bank or carries on
business activities which are not authorized or permitted for the resulting or purchasing
state bank, the director of the financial institutions division may permit a reasonable time
to conform with the law of this state, and, in the case of a resulting or purchasing state
bank that is not to exercise trust powers, shall require that prompt application be made
to a court of competent jurisdiction for the appointment of a successor trustee.