New Mexico § 58-23-26 Deposit of money

New Mexico Statutes

§ 58-23-26 — Deposit of money

New Mexico § 58-23-26

Ch. 58Financial Institutions and Regulations

Art. 23Hospital Equipment Loans

This text of New Mexico § 58-23-26 (Deposit of money) 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. § 58-23-26 (2026).

Text

All money of the council, except as otherwise authorized or provided in the Hospital Equipment Loan Act or in a bond resolution, trust agreement or other instrument under which bonds are issued, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of this state or in national banking associations. All deposits of money shall, if required by the council, be secured in such a manner as the council determines to be prudent. Banks or trust companies are authorized to give security for the deposits of the council.

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All money of the council, except as otherwise authorized or provided in the Hospital Equipment Loan Act or in a bond resolution, trust agreement or other instrument under which bonds are issued, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of this state or in national banking associations. All deposits of money shall, if required by the council, be secured in such a manner as the council determines to be prudent. Banks or trust companies are authorized to give security for the deposits of the council.