New Mexico Statutes 52-6-16. Investments
Funds not needed for current obligations may be invested by the board of trustees in accordance with the provisions of N.M. Stat. Ann. Chapter 59A, Article 9 applicable to investments, except that, notwithstanding the provisions of Section 59A-9-18 N.M. Stat. Ann.:
Terms Used In New Mexico Statutes 52-6-16
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A. the board of trustees may make loans or investments not otherwise expressly permitted under N.M. Stat. Ann. Chapter 59A, Article 9, in an aggregate amount not exceeding ten percent of the group’s assets and not exceeding two percent of such assets as to any one such loan or investment, provided that such loans and investments do not constitute an amount that is greater than total surplus, if the loan or investment meets the requirements of Section 59A-9-3 N.M. Stat. Ann. and by reason of safety of principal and yield otherwise qualifies as a sound investment; and
B. the calculation of the group’s other loans and investments described in Subsection A of this section shall not include the fair market value of any real property occupied by the group.