New Mexico Statutes
§ 58-18-19 — No contribution by state or municipality
New Mexico § 58-18-19
This text of New Mexico § 58-18-19 (No contribution by state or municipality) 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. § 58-18-19 (2026).
Text
Neither the state nor any municipality shall have the power to pay out of its general funds or otherwise contribute its money to the authority, nor may the state or any state agency purchase any bonds or notes of the authority, nor shall the state or any municipality have the power to make or participate in the making of loans to mortgage lenders or to purchase or participate in the purchase of mortgage loans pursuant to the Mortgage Finance Authority Act. Notwithstanding the foregoing, neither the state nor any municipality shall be prohibited from appropriating its money to or in aid of the authority's programs or the beneficiaries of any program to the extent otherwise permitted by law.
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Legislative History
1953 Comp., § 13-19-19, enacted by Laws 1975, ch. 303, § 19; 1995, ch. 9, §
Nearby Sections
15
§ 58-1-1
Short title§ 58-1-11
Access by fiduciaries§ 58-1-13
Lease to minor§ 58-1-14
Search procedure on death§ 58-1-17
Qualification and fiduciary powers§ 58-1-18
Fiduciary bond or oath excused§ 58-1-2
Definitions of banks§ 58-1-2.1
Prohibition§ 58-1-20
Reserves against deposits§ 58-1-21
LoansCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 58-18-19, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/58/58-18-19.