Go to Previous Versions of this Section
  1. 2025 N.M. Stat. (here)
  2. 2024 N.M. Stat.
  3. 2023 N.M. Stat.
  4. View All Versions

2025 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 21 - Student Loans
Section 21-21-10 - Legal investments; tax exemptions.

Universal Citation:
NM Stat § 21-21-10 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

All bonds issued under the Student Loan Act are legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees and guardians, and for the sinking funds of political subdivisions, departments, institutions and agencies of the state. When accompanied by all unmatured coupons appurtenant thereto, the bonds are sufficient security for all deposits of state funds and of all funds of any board in control at the par value of the bonds. The bonds and the income therefrom, including profits made on the sale thereof, are free from taxation within this state.

History: 1953 Comp., § 73-38-10, enacted by Laws 1970, ch. 82, § 10.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 495, 526.

Constitutional enumeration of subjects of tax exemption as affecting power of legislature to free government securities or property from taxation, 9 A.L.R. 436.

84 C.J.S. Taxation § 260.

Previous Next
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.