Any holder of bonds issued under the provisions of the Educational Assistance Act or any coupons appertaining thereto, and the trustee under any trust agreement or resolution authorizing the issuance of such bonds, except as the rights given pursuant to that act may be restricted by such trust agreement or resolution, may, either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights under the laws of the state or granted by that act or under such trust agreement or resolution or under any other contract executed by the foundation pursuant to that act, and may enforce and compel the performance of all duties required by that act or by such trust agreement or resolution to be performed by the foundation or by any officer thereof.
History: Laws 1981, ch. 319, § 14.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations §§ 276, 277, 298, 299.
81A C.J.S. States § 262.
Structure 2021 New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 21A - Educational Assistance
Section 21-21A-1 - Short title.
Section 21-21A-3 - Definitions.
Section 21-21A-5 - Nonprofit foundation authorized; purpose.
Section 21-21A-6 - Foundation; board of directors; members; terms; meetings; bylaws.
Section 21-21A-7 - Foundation powers.
Section 21-21A-8 - Issuance of revenue bonds.
Section 21-21A-9 - Status of bonds.
Section 21-21A-10 - Refunding bonds.
Section 21-21A-11 - Trust agreements authorized.
Section 21-21A-12 - Pledge of assets or revenues of foundation.
Section 21-21A-13 - All money received deemed trust funds.
Section 21-21A-14 - Rights of holders of bonds.
Section 21-21A-15 - Legal investments; tax exemption.
Section 21-21A-16 - Annual report and audit.
Section 21-21A-19 - Gifts by persons, corporations, institutions and associations.
Section 21-21A-21 - Dissolution of foundation.
Section 21-21A-22 - Agreement with the state.
Section 21-21A-24 - Educational assistance; foundation activities not affected by repeal.
Section 21-21A-25 - Educational assistance; nonprofit corporation status not affected by repeal.