Neither the commissioner [director of the financial institutions division of the regulation and licensing department], nor his deputies or employees, nor the state corporation commission [public regulation commission], nor any member thereof, nor any deputy, clerk or employee in its office shall divulge any information acquired by them in the discharge of their duties, except insofar as the same may be rendered necessary by law. The commissioner [director] may exchange information as to the conditions of banks with the United States comptroller of the currency, federal deposit insurance corporation, federal reserve banks, and banking departments of other states. Anyone who violates the provisions of this section shall be deemed guilty of a misdemeanor.

History: 1953 Comp., § 48-22-33.4, enacted by Laws 1975, ch. 330, § 22.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

Laws 1998, ch. 108, § 80 provided that references to the state corporation commission be construed as references to the public regulation commission.

Cross references. — For director of financial institutions, see 9-16-4 NMSA 1978.

For penalty for misdemeanor, see 31-18-13 and 31-19-1 NMSA 1978.

Furnishing information to state treasurer prohibited. — The financial institutions division is prohibited from furnishing information on the financial condition of New Mexico financial institutions to the state treasurer, absent express statutory authorization for such release. 1979 Op. Att'y Gen. No. 79-22.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 18.

Use or publication of reports of, or information obtained by, bank examiners, as affected by their alleged confidential character, 123 A.L.R. 1278.

Rights and remedies of financial institution customer in relation to subpoena duces tecum exception to general prohibitions of state right to financial privacy statute, 43 A.L.R.4th 1157.

Bank's liability, under state law, for disclosing financial information concerning depositor or customer, 81 A.L.R.4th 377.

9 C.J.S. Banks and Banking §§ 10 et seq., 31.