As used in the Educational Assistance Act:

Terms Used In New Mexico Statutes 21-21A-3

  • 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.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.

A. “bond” means any bond, note or other evidence of indebtedness;

B. “educational loan” means a loan for educational purposes made to or for the benefit of qualified persons;

C. “foundation” means a corporation formed pursuant to the provisions of the Educational Assistance Act to provide financial assistance for post-secondary education; and

D. “institution of higher education” means the state institutions of higher education enumerated in Article 12, Section 11 of the constitution of New Mexico or other institution of higher education approved by the foundation.

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