A. Every bank, savings and loan association and credit union holding public money deposited by the state treasurer shall, on the first day of each month during the time in which it holds such deposits, furnish to the state treasurer and to the financial control division of the department of finance and administration an itemized statement concerning the deposit, showing the daily balance for the last preceding month and interest accrued thereon. These statements shall be filed by the state treasurer and the financial control division and be public records. Every bank, savings and loan association and credit union having public money on deposit other than that deposited by the state treasurer shall furnish to the treasurer depositing the same and to the board of finance which issued the certificate under which it holds such money, on the first day of each month during the time in which it holds any such money on deposit, an itemized statement concerning the deposit, showing the daily balance of the deposit account for the last preceding month and interest accrued thereon, which statement shall be filed in regular order and carefully preserved in the respective offices. Upon the first day of each month, all interest accrued upon the deposit shall by the bank, savings and loan association or credit union be credited to the state, county, municipality or board in control whose money it so holds.
B. All checks drawn against any account of public money deposited or against any interest account shall be signed by the proper officer authorized to sign them and in his official capacity.
C. "Deposit", as used herein, means either investment or deposit and includes share, share certificate and share draft.
History: Laws 1923, ch. 76, § 14; C.S. 1929, § 112-114; 1941 Comp., § 7-223; 1953 Comp., § 11-2-26; Laws 1968, ch. 18, § 6; 1975, ch. 157, § 3; 1987, ch. 79, § 9.
The 1987 amendment, effective June 19, 1987, in Subsection A inserted "and credit union" following "savings and loan association" in the first, third and last sentences; in Subsection C added at the end "and includes share, share certificate, and share draft"; and made minor language changes throughout the section.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Funds § 9.
26A C.J.S. Depositaries § 12(1).
Structure New Mexico Statutes
Section 6-10-1 - Fiscal year designated.
Section 6-10-1.1 - Definitions.
Section 6-10-1.2 - Payment methods authorized; fee.
Section 6-10-2 - Public money; cash books; daily balance; public record.
Section 6-10-2.1 - State treasurer; duty.
Section 6-10-3 - Payment of state money into treasury; suspense funds.
Section 6-10-4 - Payment of obligations of prior years from current year appropriations.
Section 6-10-5 - General fund deficiency; certificates of indebtedness.
Section 6-10-6 - Issuance of certificates.
Section 6-10-7 - Retirement of certificates.
Section 6-10-8 - County boards of finance.
Section 6-10-9 - Boards of finance for institutions.
Section 6-10-10 - Deposit and investment of funds.
Section 6-10-10.2 - Statements of condition required to be transmitted to the state cash manager.
Section 6-10-11 - Approval of investment of state funds.
Section 6-10-12 - [Investment of special road fund balances over $10,000.]
Section 6-10-13 - [Limitation on investment of special road fund.]
Section 6-10-14 - [Securities eligible for special road fund investments.]
Section 6-10-15 - Surety for deposits.
Section 6-10-16 - Security for deposits of public money.
Section 6-10-16.1 - Security for public deposits.
Section 6-10-17 - Amount of security to be deposited.
Section 6-10-17.1 - Noncompliance with collateral requirements; withdrawal of public funds.
Section 6-10-18 - Assignment of securities; disposition.
Section 6-10-19 - Ineligible depository bonds.
Section 6-10-20 - Additional security.
Section 6-10-21 - Security for deposits; safekeeping; regulations of state board of finance.
Section 6-10-22 - Security for deposits; liability for loss.
Section 6-10-23 - Safekeeping of pledged securities; acceptance, release and substitution.
Section 6-10-24.1 - State funds; limitation.
Section 6-10-24.2 - Linked deposit program.
Section 6-10-25 - Declaration of policy.
Section 6-10-27 - Provisions inapplicable to permanent and certain other funds.
Section 6-10-28 - Investment of bond proceeds.
Section 6-10-30 - Interest rates set by state board of finance.
Section 6-10-31 - Interest on time deposits.
Section 6-10-32 - Treatment of interest on land grant funds.
Section 6-10-33 - Interest limited to maximum permitted by federal law or regulation.
Section 6-10-34 - Withdrawal of time deposits subject to federal law or regulation.
Section 6-10-36 - Public money deposits of certain governmental units; distribution; interest.
Section 6-10-36.1 - Receipts of public money; disposition by certain municipalities.
Section 6-10-37 - State treasurer to make deposits.
Section 6-10-39 - [Official bonds; payment of premiums; form.]
Section 6-10-41 - Suspense account unearned money; transfer.
Section 6-10-42 - Authorizing fund transfers to address delays in revenue; restrictions.
Section 6-10-43 - Interest and sinking-fund balances.
Section 6-10-44.1 - Deposits in credit unions.
Section 6-10-45 - [Deposit of local funds with state treasurer to match allotments.]
Section 6-10-46 - Disbursement of state funds; vouchers and warrants.
Section 6-10-48 - Insolvency of depository institution; profit and loss account.
Section 6-10-49 - [Insolvency of banks; state funds; right to recover deposits not impaired.]
Section 6-10-51 - To cover all moneys lawfully intrusted to treasurers.
Section 6-10-52 - [Failure to comply with specific requirements; penalty.]
Section 6-10-53 - [Bribery of public treasurers and employees; penalty.]
Section 6-10-55 - Short title.
Section 6-10-56 - Definitions.
Section 6-10-57 - Cancellation of warrants.
Section 6-10-58 - Signing checks for state funds.
Section 6-10-61 - [Permanent fund investment laws not affected.]