New Mexico § 73-16-45 [Investment of guaranty fund.]

New Mexico Statutes

§ 73-16-45 — [Investment of guaranty fund.]

New Mexico § 73-16-45

Ch. 73Special Districts

Art. 16Conservancy Districts; Financial Administration

This text of New Mexico § 73-16-45 ([Investment of guaranty fund.]) 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. § 73-16-45 (2026).

Text

The treasurer of any such district shall, when directed by resolution of the board, invest such guaranty fund, and the income thereof, in the United States government bonds or municipal bonds approved for savings bank investment in the states of New York and Massachusetts, so that the same may always be readily convertible into cash if and when needed for the purposes in this act [73-16-41 to 73-16-49 NMSA 1978] provided.

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The treasurer of any such district shall, when directed by resolution of the board, invest such guaranty fund, and the income thereof, in the United States government bonds or municipal bonds approved for savings bank investment in the states of New York and Massachusetts, so that the same may always be readily convertible into cash if and when needed for the purposes in this act [73-16-41 to 73-16-49 NMSA 1978] provided.