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2011 New Mexico Statutes
Chapter 6: Public Finances
Article 10: Public Money, 6-10-1 through 6-10-63
Section 6-10-16.1: Security for public deposits.


NM Stat § 6-10-16.1 (1996 through 1st Sess 50th Legis) What's This?

6-10-16.1. Security for public deposits.

All deposits of public funds shall be secured by securities as defined in Section 6-10-16 NMSA 1978 in the amount required by law or by surety bonds as provided for in Section 6-10-15 NMSA 1978. A surety company that issues a surety bond pursuant to this section shall be rated in the highest category by at least one nationally recognized statistical rating agency.

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