New Mexico § 2-12-5 Mortgage Finance Authority Act oversight committee;

New Mexico Statutes

§ 2-12-5 — Mortgage Finance Authority Act oversight committee;

New Mexico § 2-12-5

Ch. 2Legislative Branch

Art. 12Oversight Committees

This text of New Mexico § 2-12-5 (Mortgage Finance Authority Act oversight committee;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 2-12-5 (2026).

Text

powers and duties. The Mortgage Finance Authority Act oversight committee created by the provisions of Subsection W of Section 58-18-5 NMSA 1978 shall have the power to: A. determine and monitor the actual distribution of funds derived by the authority from bond issues and other activities of the authority under the provisions of the Mortgage Finance Authority Act [Chapter 58, Article 18 NMSA 1978], both on a geographical basis and on the basis of the actual distribution to participants in its programs; B. monitor the authority in its control of the issuance of mortgage commitments; C. meet on a regular basis to receive and evaluate periodic reports from the authority as to its enforcement of the provisions of the Mortgage Finance Authority Act and the regulations adopted pursuant thereto;

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powers and duties. The Mortgage Finance Authority Act oversight committee created by the provisions of Subsection W of Section 58-18-5 NMSA 1978 shall have the power to: A. determine and monitor the actual distribution of funds derived by the authority from bond issues and other activities of the authority under the provisions of the Mortgage Finance Authority Act [Chapter 58, Article 18 NMSA 1978], both on a geographical basis and on the basis of the actual distribution to participants in its programs; B. monitor the authority in its control of the issuance of mortgage commitments; C. meet on a regular basis to receive and evaluate periodic reports from the authority as to its enforcement of the provisions of the Mortgage Finance Authority Act and the regulations adopted pursuant thereto; and D. require the authority to document the need to the oversight committee regarding the issuance of any bonds.