2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 24: Industrial and Agricultural Finance Authority, 58-24-1 through 58-24-24
Section 58-24-21: Corporate existence.
58-24-21. Corporate existence.
The authority and its corporate existence shall continue until terminated by law, provided that no such law shall take effect so long as the authority shall have bonds, notes and other obligations outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the authority, all its rights and properties in excess of its obligations shall pass to and be vested in the state.
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