The purposes of the Small Business Investment Act are to:
A. implement the provisions of Subsection D of Section 14 of Article 9 of the constitution of New Mexico to create new job opportunities by providing capital for land, buildings or infrastructure for facilities to support new or expanding businesses; and
B. otherwise make debt investments and equity investments to create new job opportunities to support new or expanding businesses in a manner consistent with the constitution of New Mexico.
History: Laws 2000, ch. 97, § 4; 2003, ch. 399, § 5.
The 2003 amendment, effective April 8, 2003, added the Subsection A designation, and in Subsection A inserted the reference to Subsection D of Section 14 Article 9 and inserted "capital for"; and added Subsection B.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 29 - Small Business Investment
Section 58-29-1 - Short title.
Section 58-29-3 - Definitions.
Section 58-29-4 - Small business investment corporation created; powers of the corporation.
Section 58-29-5 - Corporation board of directors; appointment; powers.
Section 58-29-5.1 - Permitted investments.