New Mexico Statutes 48-7-23. Governmental entity limitation of act
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The provisions of Section 5 [48-7-19 N.M. Stat. Ann.] of this act shall not apply to the transfer of a real property loan where the funds for the real property loans were provided through the issuance by a governmental entity or instrumentality of bonds the interest on which is exempt from federal income taxation and the transfer fails to conform to state and federal law governing the bonds.
Terms Used In New Mexico Statutes 48-7-23
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.