New Mexico Statutes
§ 6-10-33 — Interest limited to maximum permitted by federal law or
regulation. No deposit of public funds shall bear interest where any bank, savings and loan association or credit union is precluded from paying interest on the deposit by federal law or the regulations of any agency or instrumentality of the United States, and no deposit of public funds shall bear a greater interest rate than banks, savings and loan associations or credit unions are authorized to pay under such federal laws or regulations.
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Legislative History
1953 Comp., § 11-2-30, enacted by Laws 1975, ch. 157, § 5; 1981, ch. 332, §
Nearby Sections
15
§ 6-1-6
[Separate accounts.]§ 6-1-7
Repealed§ 6-10-1
Fiscal year designated§ 6-10-1.1
Definitions§ 6-10-1.2
Payment methods authorized; fee§ 6-10-10
Deposit and investment of funds