§ 10-7A-12 — Division of funds as community property; notice

New Mexico § 10-7A-12

• Jurisdiction: New Mexico
• Ch. 10: Public Officers and Employees
• Art. 7A: Deferred Compensation

Text

requirement. A court of competent jurisdiction, solely for the purposes of effecting a division of community property, may provide by appropriate order for a determination and division of a community interest in the deferred compensation plan provided for in the Deferred Compensation Act. Pursuant to such a court order a deferred compensation administrator shall provide notice, within ten days after a participating public employee files an application for a disbursement from the deferred compensation plan, to a former spouse who has a court-determined interest in a participating public employee's deferred compensation plan. The notice shall be sent to the last name and address the former spouse has filed with the administrator of the deferred compensation plan and shall include the schedule for and amounts of the disbursement and the address to which the participating public employee's disbursement will be sent.

Legislative History

1978 Comp., § 10-7A-12, enacted by Laws 1991, ch. 22, § 1.