2016 New Mexico Statutes
Chapter 6 - Public Finances
Article 10 - Public Money
Section 6-10-32 - Treatment of interest on land grant funds.
6-10-32. Treatment of interest on land grant funds.
All interest collected by the state treasurer on deposits, whether on time deposits or otherwise, in any bank, in any savings and loan association or in any credit union whose deposits are insured by an agency of the United States of money belonging to the common school permanent or income funds or to any other fund derived from lands granted to the state by any act of congress shall be treated by the state treasurer as income of the funds to which that money belongs and as collected by him shall be credited accordingly.
History: Laws 1929, ch. 92, 2; C.S. 1929, 112-202; 1941 Comp., 7-226; 1953 Comp., 11-2-29; Laws 1968, ch. 18, 8; 1987, ch. 79, 11.
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