New Mexico Statutes
§ 21-21A-5 — Nonprofit foundation authorized; purpose
A majority of the four-year institutions of higher education may form, pursuant to the provisions of the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978], a nonprofit foundation, separate and apart from the state. The purpose of the foundation is to improve the educational opportunities of residents of New Mexico by providing financial assistance to qualified persons, including a program of making, financing, purchasing, holding and selling educational loans, and by servicing educational loan, scholarship, grant, work study and other educational assistance programs.
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 21-21A-5 (Nonprofit foundation authorized; purpose) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 1981, ch. 319, § 5; 1989, ch. 19, § 3; 2005, ch. 201, § 4.
Nearby Sections
15
§ 21-1-10
Delegation of authority§ 21-1-11
[Allocation of funds.]§ 21-1-12
[Annual reports; contents.]§ 21-1-19
[Oaths of board members; filing.]