§ 29-13-3 — Distribution of certain insurance collections; law

enforcement protection fund created. There is created in the state treasury the "law enforcement protection fund". Ten percent of all money received for fees, licenses and penalties from life, health, general casualty and title insurance business pursuant to the New Mexico Insurance Code [59A- 1-1 NMSA 1978] shall be paid monthly to the state treasurer and credited to the fund. On or before June 30 of each year, the state treasurer shall transfer to the law enforcement retention fund any balance in the law enforcement protection fund in excess of one hundred thousand dollars ($100,000) that is not obligated for expenses in that current fiscal year.

Legislative History

Laws 1983, ch. 289, § 3; 1985, ch. 29, § 1; 1988, ch. 96, § 1; 1993, ch. 179, §