As used in the Governmental Conduct Act:

Terms Used In New Mexico Statutes 10-16-2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

A. “business” means a corporation, partnership, sole proprietorship, firm, organization or individual carrying on a business;

B. “confidential information” means information that by law or practice is not available to the public;

C. “contract” means an agreement or transaction having a value of more than one thousand dollars ($1,000) with a state or local government agency for:

(1)     the rendition of services, including professional services; (2)     the furnishing of any material, supplies or equipment;

(3)     the construction, alteration or repair of any public building or public work; (4)     the acquisition, sale or lease of any land or building;

(5)     a licensing arrangement;

(6)     a loan or loan guarantee; or

(7)     the purchase of financial securities or instruments;

D. “employment” means rendering of services for compensation in the form of salary as an employee;

E. “family” means an individual’s spouse, parents, children or siblings, by consanguinity or affinity;

F. “financial interest” means an interest held by an individual or the individual’s family that is:

(1)     an ownership interest in business or property; or

(2)     any employment or prospective employment for which negotiations have already begun;

G. “local government agency” means a political subdivision of the state or an agency of a political subdivision of the state;

H. “official act” means an official decision, recommendation, approval, disapproval or other action that involves the use of discretionary authority;

I. “public officer or employee” means any elected or appointed official or employee of a state agency or local government agency who receives compensation in the form of salary or is eligible for per diem or mileage but excludes legislators;

J. “standards” means the conduct required by the Governmental Conduct Act; K. “state agency” means any branch, agency, instrumentality or institution of the state; and

L. “substantial interest” means an ownership interest that is greater than twenty percent.

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