2006 New Mexico Statutes - Section 21-21-25 — Collection of student loans; contracts authorized.
21-21-25. Collection of student loans; contracts authorized.
The board of educational finance [commission on higher education] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission] in collecting any defaulted loan made pursuant to the Student Loan Act [ 21-21-1 NMSA 1978] or the Student Loan Guarantee Act [ 21-21-14 NMSA 1978]. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.
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