If any part of the Land Title Trust Fund Act is found to be in conflict with federal requirements that are a prescribed condition to the allocation of federal funds to the state, the conflicting part of that act is inoperative solely to the extent of the conflict and with respect to the agencies directly affected, and this finding does not affect the operation of the remainder of that act in its application to the agencies concerned. The rules adopted pursuant to the provisions of the Land Title Trust Fund Act shall meet those federal requirements that are a necessary condition to the receipt of federal funds by the state.
History: Laws 1997, ch. 118, § 6.
Emergency clauses. — Laws 1997, ch. 118, § 11 makes the Land Title Trust Fund Act effective immediately. Approved April 9, 1997.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 28 - Land Title Trust Funds
Section 58-28-1 - Short title.
Section 58-28-2 - Definitions.
Section 58-28-3 - Land title trust fund created.
Section 58-28-5 - Use of money; eligible activities.
Section 58-28-6 - Conflict with federal requirements.
Section 58-28-7 - Matching funds.
Section 58-28-8 - Land title trust fund advisory committee created; functions.