{"data":{"id":"us-nm/58-1-68","jurisdiction":"us-nm","citation":"58-1-68","heading":"Authority to declare dividends.","body":"The board of directors of a state bank may declare dividends not more than once in each calendar quarter from undivided profits if:\n(1) the undivided profits account has been maintained in accordance with the Banking Act; and\n(2) the reserve against deposits required by the Banking Act is not and will not thereby be impaired.","path":["Chapter 58 - Financial Institutions and Regulations","ARTICLE 1 Banking Generally"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18561/index.do","current_through":"2025-01-07","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"6bc99e3b05d6e676b51c33179b88fa3c638a6548d9c0600af8f403abb4d2435e","source_id":"us-nm","stale":false,"prev":"us-nm/58-1-67","next":"us-nm/58-1-69"},"notice":"GroundRules: Original legal text. Not legal advice."}