reglab/housing_qa huggingface dataset:
NM Stat § 6-10-10.2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-10.2 - Statements of condition required to be transmitted to the state cash manager.

As a condition of retaining state deposits or investments, each financial institution certified or designated to receive state public money on deposit shall submit to the state cash manager its quarterly statement of condition at the same time the statement is sent to the federal or state financial authority. The statement shall be certified by an authorized officer of the institution. If the statement is not received by the state cash manager within ten days of its submission to the authority, the manager shall notify the institution of that fact, and the institution shall submit the certified statement within ten days of the notification. Within that twenty-day period, the institution shall not be disqualified from retaining state deposits or investments. If the institution fails to submit the certified statement within the twenty-day period, the state cash manager shall advise the state treasurer, who may withdraw all state funds from the institution in order to protect those state funds. History: Laws 1993, ch. 105, § 2.
NM Stat § 6-10-11 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-11 - Approval of investment of state funds.

No moneys of this state belonging to any sinking fund or other fund shall be invested by the state treasurer in any form of security without the prior approval of such investment by the state board of finance. The state board of finance, prior to approving any such investment shall make an investigation of the validity of any such security, including the authority for the issuance thereof and all proceedings leading up to such issuance, and of the adequacy of the means provided for the payment of principal and interest of such security, and shall by resolution adopted at a meeting of said board recite its findings on all said matters. History: Laws 1925, ch. 86, § 1; C.S. 1929, § 112-301; 1941 Comp., § 7-208; 1953 Comp., § 11-2-8; Laws 1978, ch. 121, § 1. ANNOTATIONSInvestment officer may use services of investment counselor or other sources of advice to aid in making an investment policy recommendation to the investment council. 1959 Op. Att'y Gen. No. 59-21. State investment officer may invest state moneys in "closed-end" mutual funds subject to the restrictions provided for by this section. 1959 Op. Att'y Gen. No. 59-22. Investment of funds of museum of New Mexico. — In investing funds belonging to the museum of New Mexico, the state treasurer and state board of finance may, in their discretion, utilize the same standards as govern the investment of public funds controlled by the state commissioner of public lands and as set forth in Section 6-8-10 NMSA 1978. but such enumerated investments are not controlling upon the board of finance and the state treasurer. 1964 Op. Att'y Gen. No. 64-29. Am. Jur. 2d, A.L.R. and C.J.S. references. — Stock of private corporation, constitutional or statutory provisions prohibiting municipalities or subdivisions of state from investing in, 152 A.L.R. 495. 81A C.J.S. States § 225.
NM Stat § 6-10-12 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-12 - [Investment of special road fund balances over $10,000.]

The state treasurer is hereby authorized and directed to invest, as hereinafter provided, the funds on deposit in the state treasury to the credit of any special road fund, where such balance is in the amount of $10,000 (ten thousand dollars) or more. History: Laws 1933, ch. 128, § 1; 1941 Comp., § 7-212; 1953 Comp., § 11-2-14. ANNOTATIONSBracketed material. — The bracketed material in the catchline was inserted by the compiler and is not part of the law.
NM Stat § 6-10-13 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-13 - [Limitation on investment of special road fund.]

Investments mentioned in Section one [6-10-12 NMSA 1978] of this act shall not be made until after funds due the highway department for expenses incurred against such balance, are deducted nor shall such investments be made if the balance in such fund is to be expended by the state highway department within one year from the date that investment may be made. History: Laws 1933, ch. 128, § 2; 1941 Comp., § 7-213; 1953 Comp., § 11-2-15. ANNOTATIONSBracketed material. — The bracketed material in the catchline was inserted by the compiler and is not part of the law.
NM Stat § 6-10-14 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-14 - [Securities eligible for special road fund investments.]

Investments provided for in Section one [6-10-12 NMSA 1978] shall be in securities such as are eligible for investment of common school permanent or other permanent funds, and shall be subject to the same regulations and approval. History: Laws 1933, ch. 128, § 3; 1941 Comp., § 7-214; 1953 Comp., § 11-2-16. ANNOTATIONSBracketed material. — The bracketed material in the catchline was inserted by the compiler and is not part of the law.
NM Stat § 6-10-16.1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-16.1 - Security for public deposits.

All deposits of public funds shall be secured by securities as defined in Section 6-10-16 NMSA 1978 in the amount required by law or by surety bonds as provided for in Section 6-10-15 NMSA 1978. A surety company that issues a surety bond pursuant to this section shall be rated in the highest category by at least one nationally recognized statistical rating agency. History: Laws 1981, ch. 332, § 20; 2001, ch. 21, § 1. ANNOTATIONSThe 2001 amendment, effective March 13, 2001, in the first sentence, deleted "made after the effective date of this act" following "All deposits of public funds", added the phrase following "required by law"; and added the last sentence. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds §§ 13, 14. 26A C.J.S. Depositaries § 9(1).
NM Stat § 6-10-17 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-17 - Amount of security to be deposited.

Any bank or savings and loan association designated as a depository of public money shall deliver securities of the kind specified in Section 6-10-16 NMSA 1978 to a custodial bank described in Section 6-10-21 NMSA 1978 and shall then deliver a joint safekeeping receipt issued by the custodial bank to the public official from whom or the public board from which the public money is received for deposit. The securities delivered shall have an aggregate value equal to one-half the amount of public money to be received in accordance with Subsection B of Section 6-10-16 NMSA 1978. However, any such bank or savings and loan association may deliver a depository bond executed by a surety company as provided in Section 6-10-15 NMSA 1978 as security for any portion of a deposit of public money. History: 1953 Comp., § 11-2-18.2, enacted by Laws 1969, ch. 243, § 2; 1971, ch. 31, § 1; 1981, ch. 332, § 6; 1991, ch. 31, § 1. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, divided the former first sentence into the present first two sentences; inserted "to a custodial bank described in Section 6-10-21 NMSA 1978 and shall then deliver" and "issued by the custodial bank" in the first sentence; added "The securities delivered shall have" at the beginning of the present second sentence; and made related stylistic changes.
NM Stat § 6-10-17.1 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-17.1 - Noncompliance with collateral requirements; withdrawal of public funds.

When a treasurer, board of finance or board of control finds that a bank or savings and loan association that has been designated as a depository of public money has not maintained qualifying securities as collateral for deposits of public money under the control of that treasurer or board as required by law, the treasurer or board shall request the depository to substitute or provide additional qualifying securities to meet those requirements within ten calendar days. If the bank or savings and loan association does not comply with the request within ten calendar days, the treasurer or board shall withdraw from that depository within the next ten calendar days all deposits of public money under the treasurer's or board's control without penalty to the public depositor, notwithstanding any other provision of law to the contrary. History: Laws 1991, ch. 31, § 8.
NM Stat § 6-10-19 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-19 - Ineligible depository bonds.

No depository bond with personal sureties shall be accepted as security for deposits of public money. History: Laws 1933, ch. 175, § 10; 1941 Comp., § 7-218; 1953 Comp., § 11-2-20; 1991, ch. 31, § 3. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "as security for deposits of public money" for "by any treasurer and/or board of finance". Section repeals, by implication, personal surety clause in Section 6-10-20 NMSA 1978. 1980 Op. Att'y Gen. No. 80-11.
NM Stat § 6-10-20 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-20 - Additional security.

Any board of finance or board of control may at any time within its discretion require any bank or savings and loan association that has qualified as a depository of public money subject to the control of the board to furnish additional security for the deposit of the kind specified in Section 6-10-16 NMSA 1978. History: Laws 1923, ch. 76, § 21; 1925, ch. 123, § 8; C.S. 1929, § 112-121; 1941 Comp., § 7-219; 1953 Comp., § 11-2-21; 1991, ch. 31, § 4. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, rewrote this section which read "Any board of finance may at any time within its discretion require any bank which has qualified as a depository of public moneys subject to the control of said board and including banks which have furnished bonds with personal sureties, and which may be continued for the period of one year as specified in Section nineteen hereof to furnish additional security for said deposit of the kind in this act specified." Former personal surety clause in this section is repealed by implication by Section 6-10-19 NMSA 1978. 1980 Op. Att'y Gen. No. 80-11. Exercise of board's authority must comply with applicable statutory guidelines. — The state board of finance may exercise its authority under this section to require additional security for deposits made by the state treasurer from the severance tax permanent fund; however, such exercise of authority must be consistent with the guidelines approved under former Subsection G of Section 7-27-5 NMSA 1978. 1980 Op. Att'y Gen. No. 80-11.
NM Stat § 6-10-21 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-21 - Security for deposits; safekeeping; regulations of state board of finance.

The state board of finance is authorized and directed to regulate, by general regulation or by special orders applicable to individual cases, the safekeeping of bonds or other securities delivered by any bank or savings and loan association as security for deposits of public money. The bonds or securities shall be delivered to a third-party custodian, which shall be a federal reserve bank or branch thereof or in any other bank designated by the state board of finance and qualified to perform custodial functions in the state of New Mexico. The bank or savings and loan association delivering securities to that custodial bank shall enter into a written agreement with the custodial bank containing such conditions that will adequately protect the interests of the state, county, city, school district or institution interested in the bonds and securities. History: Laws 1927, ch. 87, § 1; C.S. 1929, § 13-1020; 1941 Comp., § 7-220; 1953 Comp., § 11-2-22; 1981, ch. 332, § 8; 1991, ch. 31, § 5. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, rewrote this section to the extent that a detailed analysis would be impracticable. Bank within state may be designated as depository. — This section does not prohibit the state board of finance from designating a bank within this state as a depository for the safekeeping of bonds or other securities delivered by any bank or banks as security for deposits of public moneys. 1957 Op. Att'y Gen. No. 57-217.
NM Stat § 6-10-22 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-22 - Security for deposits; liability for loss.

The state treasurer or any board of finance or the secretary or treasurer of any board of finance charged with the custody of any bonds or securities mentioned in Section 6-10-21 NMSA 1978 who complies with the requirements of the state board of finance with respect to the safekeeping of any bonds or securities shall not be liable for the loss of those bonds or securities except in cases where the loss is due to his willful act or might have been avoided by reasonable care on his part. History: Laws 1927, ch. 87, § 2; C.S. 1929, § 13-1021; 1941 Comp., § 7-221; 1953 Comp., § 11-2-23; 1991, ch. 31, § 6. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "Section 6-10-21 NMSA 1978" for "Section 1 hereof" near the middle of the section and made minor stylistic changes. Am. Jur. 2d, A.L.R. and C.J.S. references. — Constitutionality of statutes relieving officer or public depository or sureties from liability for loss of public funds, 96 A.L.R. 295.
NM Stat § 6-10-23 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-23 - Safekeeping of pledged securities; acceptance, release and substitution.

A. Whenever securities pledged by a depository bank or savings and loan association to secure public money are delivered to a custodial bank for safekeeping, the custodial bank is authorized to comply with the written instructions given by the depository bank or savings and loan association and the treasurer of the state, county, municipality, school district, public institution or board involved in accepting the securities for safekeeping, in releasing and delivering all or any portion of such pledged securities held in safekeeping and in permitting substitutions of other approved securities for those previously held in safekeeping. It is not necessary for the custodial bank to obtain instructions from or approval thereof by the board of finance having control of the public money involved in the particular transaction. B. In other cases where a depository bank or savings and loan association is entitled to a withdrawal and return to it of securities which have been deposited to secure deposits of public money, the securities may be withdrawn or substitution of other approved securities effected upon the written instructions executed by the depository bank or savings and loan association and by the treasurer of the state, county, municipality, school district, public institution or board involved. It is not necessary for the instructions to be executed by the board of finance having control of the public money involved in the particular transaction. C. The written instructions specified in Subsections A and B of this section may be contained in the written agreement between the depository bank or savings and loan association and the custodial bank provided for in Section 6-10-21 NMSA 1978. History: 1941 Comp., § 7-221a, enacted by Laws 1947, ch. 34, § 1; 1953 Comp., § 11-2-24; 1981, ch. 332, § 9; 1986, ch. 25, § 1; 1991, ch. 31, § 7. ANNOTATIONSCross references. — For state investment council, see 6-8-2 NMSA 1978. The 1991 amendment, effective June 14, 1991, deleted "and mortgage collateral" following "securities" in the catchline; in Subsection A, substituted "a custodial bank" for "another bank or savings and loan association" near the beginning of the first sentence and "custodial bank" for "safe-keeping bank or savings and loan association" in the first and second sentences, and inserted "written" preceding "instructions" in the first sentence; and rewrote Subsection C which pertained to mortgage collateral pledged to secure the deposit of severance tax permanent funds.
NM Stat § 6-10-24 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-24 - Deposit of public funds in federally insured banks, savings and loan associations and credit unions; conditions.

A. The state treasurer, the several county and municipal treasurers, the treasurers of any public or educational institution in this state and the treasurers of all irrigation districts and conservancy districts may deposit public funds in any bank of the state of New Mexico insured by the federal deposit insurance corporation up to the amount of the insurance or in any savings and loan association whose deposits are insured by the federal savings and loan insurance corporation up to the amount of the insurance, or in any credit union whose deposits are insured by the national credit union administration up to the amount of the insurance, without requiring the bank, savings and loan association or credit union to qualify as a public depository by giving security as required by the laws of New Mexico relating to public money; provided, however, that a deposit made in any credit union shall not exceed that amount insured by an agency of the United States. B. The several county and municipal treasurers and the treasurers of all irrigation districts and conservancy districts shall not make any deposits outside their respective political subdivisions. C. All other boards of control handling public funds in any manner whatever may deposit the public funds in any banks in New Mexico insured by the federal deposit insurance corporation up to the amount of the insurance or in any savings and loan association whose deposits are insured by the federal savings and loan insurance corporation up to the amount of the insurance or in any credit union whose deposits are insured by the national credit union administration up to the amount of such insurance, without requiring the bank, savings and loan association or credit union to qualify as a public depository by giving security as required by the laws of New Mexico relating to public money; provided, however, that a deposit made in any credit union shall not exceed that amount insured by an agency of the United States. History: Laws 1939, ch. 21, § 1; 1941 Comp., § 7-222; 1953 Comp., § 11-2-25; Laws 1968, ch. 18, § 4; 1975, ch. 157, § 2; 1981, ch. 332, § 10; 1987, ch. 79, § 7. ANNOTATIONSThe 1987 amendment, effective June 19, 1987, inserted "or credit union" following "savings and loan association" and "or in any credit union whose deposits are insured by the national credit union administration up to the amount of such insurance" preceding "without requiring the bank" near the middle of Subsections A and C; added at the end of Subsections A and C "provided, however, that the deposit made in any credit union shall not exceed that amount insured by an agency of the United States"; and made minor language changes throughout the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds § 11. 26A C.J.S. Depositaries § 8.
NM Stat § 6-10-24.2 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-24.2 - Linked deposit program.

A. As used in this section: (1) "financially at risk rural community" means a community with the following characteristics: (a) no more than one insured bank, thrift institution or credit union within the community; and (b) a population not exceeding three thousand five hundred; and either (c) a declining population as evidenced by a decrease in population as shown by the two most recent federal decennial censuses; or (d) a median household income less than eighty percent of the state median household income; (2) "linked deposit program" means a depository institution's participation in the deposit program established pursuant to this section; (3) "market rate" means the rate of return established by the state board of finance for deposits held by qualified depository institutions; (4) "qualified depository institution" means an insured bank, trust institution or credit union qualified pursuant to Section 6-10-15 NMSA 1978; (5) "qualifying branch" means an office of a qualified depository institution that is open five days a week, has a night deposit box and provides banking services to residents of the community; and (6) "state deposits" means public funds under the control of the state treasurer or the state treasurer's designee and held by qualified depository institutions. B. The state treasurer may invest up to fourteen percent of state deposits, not to exceed forty-nine million dollars ($49,000,000), in qualified depository institutions with a qualifying branch located in a financially at risk rural community. No more than ten million dollars ($10,000,000) may be deposited in any one qualified depository institution pursuant to the linked deposit program. For funds invested in qualified depository institutions pursuant to the linked deposit program, the state treasurer is authorized to accept a rate of return that is not more than one percent below the market rate. C. The director of the financial institutions division of the regulation and licensing department shall promulgate rules implementing the provisions of this section. Those rules shall address the following areas: (1) eligibility criteria for qualified depository institutions participating in the linked deposit program; (2) application procedures for participation in the linked deposit program; and (3) verification criteria for determining that a qualified depository institution participating in the linked deposit program is meeting the banking service needs of a financially at risk rural community. History: Laws 2007, ch. 153, § 1. ANNOTATIONSCross references. — For the director of financial institutions division, see 58-1-32 NMSA 1978. Effective dates. — Laws 2007, ch. 153, § 2 made Laws 2007, ch. 153, § 1 effective July 1, 2007.
NM Stat § 6-10-25 (2021)
2021 New Mexico Statutes|Chapter 6 - Public Finances|Article 10 - Public Money|Section 6-10-25 - Declaration of policy.

All moneys of the state, except permanent funds and income derived therefrom and those funds the investment of which is otherwise authorized by law, not needed to meet expenses of state government for the ensuing quarter year should be invested in interest-bearing time deposits or short-term United States government securities. No funds other than those necessary to meet expenses should be permitted to remain in noninterest-bearing accounts in state depositories. History: 1953 Comp., § 11-2-25.1, enacted by Laws 1955, ch. 140, § 1; 1967, ch. 211, § 1. ANNOTATIONSInterest accrues to fund on which paid and not to general fund. — The general rule is that interest earned by the investment of a special fund is an increment which accrues to the special fund and not to the general funds of the state or other public body. 1958 Op. Att'y Gen. No. 58-149. Interest earned on principal in game protection fund is credited to general fund. 1980 Op. Att'y Gen. No. 80-17.