New Mexico Statutes 58-10-46. Acquisition of real property
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A. An association may own real property upon which any facility used in connection with the operation of the association is or will be located. The supervisor may order that any property be sold which cannot reasonably be expected to be used as a future location.
Terms Used In New Mexico Statutes 58-10-46
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
B. An association may acquire or hold real property for the purpose of investment, development or improvement up to an aggregate value not to exceed five percent of its total assets.