A. A research park corporation shall not be deemed an agency, public body or other political subdivision of New Mexico, including for purposes of applying statutes and laws relating to personnel, procurement of goods and services, meetings of the board of directors, gross receipts tax, disposition or acquisition of property, capital outlays, per diem and mileage and inspection of records.
B. A research park corporation shall be deemed an agency or other political subdivision of the state for purposes of applying statutes and laws relating to the furnishing of goods and services to the university that operates it and the risk management fund.
C. A research park corporation, its officers, directors and employees shall be granted immunity from liability for any tort as provided in the Tort Claims Act [41-4-1 to 41-4-27 NMSA 1978]. A research park corporation may enter into agreements with insurance carriers to insure against a loss in connection with its operations even though the loss may be included among losses covered by the risk management fund of New Mexico.
History: Laws 1989, ch. 264, § 7; 1991, ch. 220, § 1; 1998, ch. 54, § 4.
The 1998 amendment, effective May 20, 1998, deleted the introductory language; added the Subsection designations; in Subsection A, substituted "New Mexico" for "the state", and deleted "real or personal"; in Subsection B, inserted "furnishing of goods and services to the university that operates it and the"; in Subsection C, deleted "also" following "may", and substituted "a" for "any"; and made minor stylistic changes.
The 1991 amendment, effective June 14, 1991, added "Except as provided in this section" at the beginning and inserted "including" in the first sentence; deleted "the members of the board of directors of a research park corporation officers, directors and employees of the research park corporation" preceding "shall be deemed" and inserted "a research park corporation, its officers, directors and employees" preceding "shall be granted" in the second sentence; and made minor stylistic changes.
Structure New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 28 - University Research Park and Economic Development
Section 21-28-1 - Short title.
Section 21-28-2 - Research park; purpose.
Section 21-28-3 - Definitions.
Section 21-28-4 - Research park corporations; authorization; members; terms; meetings; bylaws.
Section 21-28-5 - Powers of university as related to research parks.
Section 21-28-6 - Powers of research park corporation.
Section 21-28-7 - Limitations on application of laws.
Section 21-28-8 - Issuance of revenue bonds.
Section 21-28-9 - Status of bonds.
Section 21-28-10 - Refunding bonds.
Section 21-28-11 - Trust agreements authorized.
Section 21-28-12 - Pledge of assets or revenues of research park corporation.
Section 21-28-13 - All money received from sale of bonds deemed trust funds.
Section 21-28-14 - Limitation of liability.
Section 21-28-15 - Rights of holders of bonds.
Section 21-28-16 - Legal investments; tax exemption.
Section 21-28-17 - Annual report and audit.
Section 21-28-19 - Gifts by persons, corporations, institutions and associations.
Section 21-28-20 - Conflicts of interest.
Section 21-28-21 - Dissolution of research park corporation.
Section 21-28-22 - Agreement with the state.
Section 21-28-23 - Work to conform to federal law when aided by federal appropriations.