New Mexico § 58-30-4 Eligible individuals

New Mexico Statutes

§ 58-30-4 — Eligible individuals

New Mexico § 58-30-4

Ch. 58Financial Institutions and Regulations

Art. 30Individual Development Account

This text of New Mexico § 58-30-4 (Eligible individuals) 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. § 58-30-4 (2026).

Text

A. Except as set forth in Subsections B and C of this section, an eligible individual shall have earned income and shall be:

(1)eighteen years of age or older;

(2)a citizen, legal resident, refugee, asylee or person otherwise legally present in the United States at the time the person opens the person's individual development account;

(3)a resident of New Mexico; and (4) an indigent. B. A child in foster care is an eligible individual if the child is:

(1)fifteen years of age or older;

(2)an indigent;

(3)a citizen, a legal resident, a refugee or an asylee or is otherwise legally present in the United States at the time the person opens the person's individual development account; and (4) a resident of New Mexico. C. A child is an eligible individual if the child is:

(1)at least fifte

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A. Except as set forth in Subsections B and C of this section, an eligible individual shall have earned income and shall be: (1) eighteen years of age or older; (2) a citizen, legal resident, refugee, asylee or person otherwise legally present in the United States at the time the person opens the person's individual development account; (3) a resident of New Mexico; and (4) an indigent. B. A child in foster care is an eligible individual if the child is: (1) fifteen years of age or older; (2) an indigent; (3) a citizen, a legal resident, a refugee or an asylee or is otherwise legally present in the United States at the time the person opens the person's individual development account; and (4) a resident of New Mexico. C. A child is an eligible individual if the child is: (1) at least fifteen years of age and not more than eighteen years of age; (2) a member of a family whose members are all indigents; (3) a citizen, a legal resident, a refugee or an asylee or is otherwise legally present in the United States at the time the person opens the person's individual development account; and (4) a resident of New Mexico.