Pub. 13 2016 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S Issue 2 • 2016 9 The education session of the meet- ing was packed with local talent. Steve Maestas, CEO of Maestas Development Group in Albuquerque, led a discus- sion concerning local economic devel- opment and future economic growth. Maestas, no stranger to these subjects, has been recognized by Albuquerque Business First as one of New Mexi- co’s “Top Performing CEOs” and one of the state’s “Top Ten Rainmakers”. In 2015, Maestas was appointed by the Board of Governors of the Feder- al Reserve as chairman of the Board of Directors of the Federal Reserve Bank of Kansas City. Steve shared with us the important role played by the Fed in setting monetary policy. Other speak- ers included: • Steve McKee, founder and pres- ident of McKee Wallwork & Co, New Mexico’s largest advertising agency, shared his unique per- spective on where New Mexico’s economy stands in its journey to sustainable economic vitality. New Mexico is at or near the top of the list of states dependent on federal government spending. Our state can no longer rely sole- ly on federal spending to power the economy, Our need for a thriving private sector contin- ues to grow. How are we doing in that regard? What obstacles stand in our way? And where can we go from here? Steve has filtered this challenge through the lens of his groundbreaking market research and offered the attendees his observations. • Martin Hickey, MD, Chief Ex- ecutive Officer of New Mexico Health Connections, discussed the health care crisis in Ameri- ca. The topics included: health care spending has grown faster than our economy; Americans do not live longer than people in countries that spend much less on health care; why many U.S. cities have more MRI machines than all of Canada; we need to eliminate waste in health care that accounts for 30% of total U.S. cost; the U.S. has the best health care that someone else pays for; Congress must fix the Affordable Care Act; and in times of change, learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no lon- ger exists. Other speakers included Marcia Pe- ters, U.S. Bank and Bradford Bleier, FBI, who discussed navigating cyber security issues. He touched on how to assess your specific risks and evaluate mitigation strategies. Brittany Klein- paste, ABA credit union expert, pro- vided and update on the rapid growth and competitive posturing of local and national credit unions. State Legislature: The effective dates the legislation passed by the 2016 Legislature and signed by the Governor which were monitored by the NMBA are: • SB 56 (Chapter 50): Local Government Investments-Bro- kered deposits and CDARS. 5/18/2016. • SB 146 (Chapter 67): Scriveners’ Affidavit. 5/18/2016 • SB 72 (Chapter 44): Right to Farm Act. 5/18/2016 • SB 92 (Chapter 23): Rapid Workforce Development Act. 7/1/2016 • SB 155 (Chapter 69): Uniform Powers of Appointment Act. 7/1/2016. • SB 214 (Chapter 24): Workers’ Compensation Benefits reduced for Intoxication. 5/18/2016 • HB 61 (Chapter 40): Accounts for Persons with Disabilities Act. 3/3/2016 The meeting opened with a meet and greet with former UFC Women’s Bantamweight Champion Holly Holm. Holly, an Albuquerque native, is the first person to win championships in both boxing and mixed martial arts. During the event, she entertained with stories about her early boxing career and a blow-by-blow description of her championship fight and victory over Ronda Rousey. • HB 99 (Chapter 79): Driver’s Li- cense Issuance and Federal Real ID Act. 5/18/2016 • HB 168 (Chapter 80): Transpor- tation Network Company Ser- vices –UBER. 5/18/2016 • HB 250 (Chapter 88): Uniform Money Services Act. 1/1/2017 • HB 280 (Chapter 72): Rule Against Perpetuities and Uni- form Trust Decanting Act. 7/1/2016. Under Section 1-501 B, the Uniform Trust Decanting Act (UTDA) applies to trusts cre- ated before, on or after 1/1/2017; judicial proceedings concern- ing trusts commenced on or af- ter 1/1/2017; and, with an ex- ception, judicial proceedings concerning trusts commenced before 1/1/2017. A rule of con- struction or presumption in the UTDA applies to a trust instru- ment executed before 1/1/2017. For additional provisions relat- ing to the act’s application, see Section 1-105. Effective date of Section 2-101 is 7/1/2016; effective date of Section 1-101 through 1-129 is 1/1/2017. In closing, I want to express my thanks to Paul DiPaola for the splen- did job he did as our 2015-2016 NMBA President. Paul made himself avail- able for countless meetings and has represented the NMBA across the state with passion and professional- ism. Under Paul’s leadership, we have increased and encouraged member engagement in NMBA activities and events; increased PAC participation; and enhanced political engagement on all levels in our member banks. And, most importantly, we have actively promoted economic development in our state. Paul, thank you for a job well done. 