The several educational, charitable and penal institutions of the state shall be exempt from the provisions of Section 2 [6-10-3 NMSA 1978] of this act; provided, however, that any treasurer of the board in control of any such institution who shall fail, neglect or refust [refuse] to deposit all the funds, earned or unearned, of such institution in a qualified depository under an agreement to pay interest at the rate specified in Section 10 hereof on daily balances, shall be liable on his official bond for the amount of loss occasioned by the failure to so deposit such funds under an agreement to pay interest at such rate.
History: Laws 1923, ch. 76, § 23; 1925, ch. 123, § 9; C.S. 1929, § 112-123; 1941 Comp., § 7-251; 1953 Comp., § 11-2-54.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — Laws 1923, ch. 76, § 10, which is referred to in this section, was repealed by Laws 1933, ch. 175, § 13. For present provision, see 6-10-35 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 223, 224.
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.]