New Mexico Statutes 58-23-14. Optional powers
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Prior to the exercise of any of the powers conferred by Section 13 [58-23-13 N.M. Stat. Ann.] of the Hospital Equipment Loan Act, the council may:
Terms Used In New Mexico Statutes 58-23-14
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- 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
A. require that the lease or installment purchase contract or loan agreement involved be insured by a loan insurer, be guaranteed by a loan guarantor or be secured by a letter of credit; or
B. require any other type of security from the participating health facilities or banks, savings and loan associations or other entities that it deems reasonable and necessary.