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2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 8 - Investment of Public Money
Section 6-8-11 - Custody of securities.

Universal Citation: NM Stat § 6-8-11 (2019)
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Securities purchased or held by the state investment officer or the council shall be in the custody of a custodian bank contracted pursuant to the provisions of Subsection H of Section 6-8-7 NMSA 1978.

History: 1953 Comp., § 11-2-8.14, enacted by Laws 1957, ch. 179, § 11; 1975, ch. 211, § 3; 1977, ch. 247, § 102; 2015, ch. 95, § 6.

ANNOTATIONS

The 2015 amendment, effective June 19, 2015, required securities purchased or held by the state investment officer or the council to be in the custody of a contracted custodian bank; after "state investment officer or the", deleted "state investment", after "custody of", deleted "the state treasurer who may, with the approval of the secretary, deposit with a bank or trust company the securities for safekeeping and servicing" and added "a custodian bank contracted pursuant to the provisions of Subsection H of Section 6-8-7 NMSA 1978".

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