{"data":{"id":"us-nm/58-16-7","jurisdiction":"us-nm","citation":"58-16-7","heading":"POS terminal not considered a financial institution branch office.","body":"A POS terminal installed and operated pursuant to the Remote Financial Service Unit Act is not a branch office of a financial institution and shall not be construed to be a branch office of a financial institution under New Mexico law. If any court of competent jurisdiction construes a POS terminal to be installed or installed under the authority of the Remote Financial Service Unit Act to be a branch office of a financial institution, the supervisory authority approving branch offices of financial institutions shall approve any application for a POS terminal to be installed or installed under the authority of the Remote Financial Service Unit Act without regard to capital requirements for a financial institution branch office and without regard to the convenience and necessity for a financial institution branch office or any other factors normally considered in granting or denying a financial institution branch office application.","path":["Chapter 58 - Financial Institutions and Regulations","ARTICLE 16 Remote Financial Service Units"],"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":"2ef5a97eeefeb7a7a2ad2b8dc05c5a0d02b809ddf014926ac695be1d4c15ccdf","source_id":"us-nm","stale":false,"prev":"us-nm/58-16-6","next":"us-nm/58-16-8"},"notice":"GroundRules: Original legal text. Not legal advice."}