The board of educational finance [commission on higher education [higher education department]] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission [department]] in collecting any defaulted loan made pursuant to the Student Loan Act [21-21-1 to 21-21-13 NMSA 1978] or the Student Loan Guarantee Act [21-21-14 to 21-21-24 NMSA 1978]. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.
History: 1978 Comp., § 21-21-25, enacted by Laws 1978, ch. 110, § 12.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
For designation of the commission on higher education as the higher education department, see 9-25-4.1 NMSA 1978.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Section 21-21-1 - Short title.
Section 21-21-2 - Definitions.
Section 21-21-3 - Student loan fund; loan authority.
Section 21-21-4 - Conditions of loan.
Section 21-21-5 - Duties of the fiscal agent.
Section 21-21-6 - Reimbursement of the fiscal agent.
Section 21-21-8 - Issuance of revenue bonds.
Section 21-21-9 - Refunding bonds.
Section 21-21-10 - Legal investments; tax exemptions.
Section 21-21-11 - Proceeds from bond sale.
Section 21-21-12 - Repayment of bonds.
Section 21-21-13 - Investment of funds.
Section 21-21-14 - Short title.
Section 21-21-16 - Definitions.
Section 21-21-17 - Loan guarantees; powers and duties of board.
Section 21-21-18 - Fund created; method of payment.
Section 21-21-20 - Conditions of loan.
Section 21-21-21 - Duties of fiscal agent.
Section 21-21-22 - Reimbursement of the fiscal agent.
Section 21-21-23 - Certification of the board of educational finance.
Section 21-21-25 - Collection of student loans; contracts authorized.