In the event of default in the payment of principal [of], or interest on, an investment made, the investment officer is authorized to institute proper proceedings to collect matured interest and principal; the investment officer may, after consultation with the investment council, accept for exchange purposes refunding bonds or other evidences of indebtedness at interest rates to be agreed upon with the obligor. The investment officer, after consultation with the council, is authorized to adjust past-due interest or principal in default.
History: 1953 Comp., § 11-2-8.11, enacted by Laws 1957, ch. 179, § 8; 1977, ch. 247, § 101; 1981, ch. 264, § 6.
Bracketed material. — The bracketed material was inserted by the compiler and it is not part of the law.
Structure New Mexico Statutes
Article 8 - Investment of Public Money
Section 6-8-2 - State investment council.
Section 6-8-3 - Council terms and qualifications.
Section 6-8-4 - Investment office; state investment officer; terms.
Section 6-8-5 - Bond; staff; budget.
Section 6-8-6 - Transfer of investment powers.
Section 6-8-8 - Compromise; adjustment.
Section 6-8-10 - Investment standards.
Section 6-8-11 - Custody of securities.
Section 6-8-13 - Record of investments.
Section 6-8-14 - Monthly reports.
Section 6-8-16 - Annual report.
Section 6-8-22 - Disclosure of third-party marketers; penalty.
Section 6-8-23 - Compensation under contingent fee contracts; suspense fund created.
Section 6-8-24 - Qui tam plaintiffs.
Section 6-8-25 - Accounts for support of persons with disabilities.