New Mexico Statutes 18-12-3. Hispanic cultural division; creation; property
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A. The “Hispanic cultural division” is created within the cultural affairs department. The principal facility of this division shall be known as the “national Hispanic cultural center”.
Terms Used In New Mexico Statutes 18-12-3
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
B. All property, real or personal, now held or subsequently acquired for the operation of the center shall be under the control and authority of the board.
C. Funds or other property received by gift, endowment or legacy shall remain under the control of the board and shall, upon acceptance, be employed for the purpose specified.