New Mexico § 21-27-5 Distributions from the fund; approval by the board

New Mexico Statutes

§ 21-27-5 — Distributions from the fund; approval by the board

New Mexico § 21-27-5

Ch. 21State and Private Education Institutions

Art. 27Maintenance for Two-Year Colleges

This text of New Mexico § 21-27-5 (Distributions from the fund; approval by the board) 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. § 21-27-5 (2026).

Text

required.

A.A qualifying institution shall make application to the board for distribution of its allocation, or any part thereof, only for any of the purposes enumerated in Section 4 [21- 27-4 NMSA 1978] of the Two-Year College Maintenance Act.

B.No distribution shall be made to any qualifying institution until the board [commission [department]] has approved the distribution of a specific amount. The board [commission [department]] may reduce the amount of any distribution to any qualifying institution. In taking such action, the board [commission [department]] shall set forth its reasons for such action and report its actions and reasons to the responsible governing board of the institution.

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required. A. A qualifying institution shall make application to the board for distribution of its allocation, or any part thereof, only for any of the purposes enumerated in Section 4 [21- 27-4 NMSA 1978] of the Two-Year College Maintenance Act. B. No distribution shall be made to any qualifying institution until the board [commission [department]] has approved the distribution of a specific amount. The board [commission [department]] may reduce the amount of any distribution to any qualifying institution. In taking such action, the board [commission [department]] shall set forth its reasons for such action and report its actions and reasons to the responsible governing board of the institution.