New Mexico § 21-12-13 Fund created

New Mexico Statutes

§ 21-12-13 — Fund created

New Mexico § 21-12-13

Ch. 21State and Private Education Institutions

Art. 12New Mexico Military Institute

This text of New Mexico § 21-12-13 (Fund created) 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. § 21-12-13 (2026).

Text

The "legislative scholarship fund" is created. No money appropriated to the legislative scholarship fund or accruing to it through gifts, grants or bequests shall be transferred to another fund; provided that up to five hundred thousand dollars ($500,000) may be transferred annually to the Luciano "Lucky" Varela opportunity scholarship fund. The legislative scholarship fund shall not revert at the end of any fiscal year. Any interest earned from investment of the legislative scholarship fund shall be credited to the legislative scholarship fund for the purpose of implementing the General Richard T. Knowles legislative scholarship program. Money in the legislative scholarship fund is appropriated to the New Mexico military institute.

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The "legislative scholarship fund" is created. No money appropriated to the legislative scholarship fund or accruing to it through gifts, grants or bequests shall be transferred to another fund; provided that up to five hundred thousand dollars ($500,000) may be transferred annually to the Luciano "Lucky" Varela opportunity scholarship fund. The legislative scholarship fund shall not revert at the end of any fiscal year. Any interest earned from investment of the legislative scholarship fund shall be credited to the legislative scholarship fund for the purpose of implementing the General Richard T. Knowles legislative scholarship program. Money in the legislative scholarship fund is appropriated to the New Mexico military institute.