2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 10 - Public Money
Section 6-10-41 - Suspense account unearned money; transfer.

All unearned moneys deposited in a suspense account with the state treasurer by any state officer or state agency shall, as soon as the same shall become the absolute property of the state of New Mexico, be transferred out of said suspense account to the proper fund by the warrant of the secretary of finance and administration based upon a voucher of the proper state official or agency, as the case may be.

Whenever it shall be finally determined that any moneys so deposited in a suspense account should be returned, repaid or refunded to the person, firm or corporation from whom the same were received, such moneys shall be paid out of the suspense account of the state treasurer upon a warrant drawn by the secretary of finance and administration based upon a voucher from the proper state official or agency, as the case may be.

History: Laws 1923, ch. 76, § 22; C.S. 1929, § 112-122; 1941 Comp., § 7-236; 1953 Comp., § 11-2-39; Laws 1977, ch. 247, § 108.

Funds are not state property until deposited in state treasury. — Where purchase price of state land was not deposited in state treasury, the money did not become the property of the state and the purchaser did not acquire an interest in the land. Laguna Gatuna, Inc. v. U.S. 50 Fed.Cl. 336 (2001).

Constitutional provisions not applicable to suspense funds. — New Mexico Const., art. IV, § 30 does not apply to suspense funds provided for in this section. 1930 Op. Att'y Gen. No. 30-66.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds §§ 1, 3, 4; 72 Am. Jur. 2d States, Territories, and Dependencies §§ 75 to 86.

81A C.J.S. States § 226.