2011 New Mexico Statutes
Chapter 61: Professional and Occupational Licenses
Article 27B: Private Investigations Act, 61-27B-1 through 61-27B-36
Section 61-27B-30: Fund established. (Repealed effective July 1, 2018.)
61-27B-30. Fund established. (Repealed effective July 1, 2018.)
A. The "private investigations fund" is created in the state treasury.
B. All license and registration fees received by the department pursuant to the Private Investigations Act [61-27B-1 NMSA 1978] shall be deposited in the fund and are appropriated to the department to be used for the administration and implementation of that act.
C. The state treasurer shall invest the fund as other state funds are invested, and all income derived from investment of the fund shall be credited to the fund.
D. All balances in the fund shall remain in the fund and shall not revert to the general fund.
E. The department shall administer the fund, and money in the fund shall be expended by warrant issued by the secretary of finance and administration on vouchers signed by the superintendent of regulation and licensing.
F. No more than five percent of the fund shall be used by the department for administration of the fund.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
