There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 3: Municipalities
Article 52: Municipal Transit, 3-52-1 through 3-52-16
Section 3-52-12: Legal investments.
NM Stat § 3-52-12 (1996 through 1st Sess 50th Legis) What's This?
3-52-12. Legal investments.
Bonds are legal investments for savings banks and insurance companies under the laws of this state. They are bonds, notes or other obligations of a municipal subdivision of this state, issued pursuant to a law of this state, for the purposes of investment or purchase by the state investment officer.
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