2016 New Mexico Statutes
Chapter 6 - Public Finances
Article 10 - Public Money
Section 6-10-36.1 - Receipts of public money; disposition by certain municipalities.
6-10-36.1. Receipts of public money; disposition by certain municipalities.
A municipality or village having within its boundaries no suitable banking facility in which to deposit collected receipts of public money shall deposit receipts within a period not to exceed five days from the date of collection, except when inclement weather or natural disaster conditions exist, in which case the period is extended to ten days; provided the municipality or village adopts a reasonable administrative policy approved by the local government division of the department of finance and administration establishing procedures for the safeguarding of the public funds prior to deposit.
History: Laws 1997, ch. 161, 1; 2007, ch. 130, 1.
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