Upon termination or dissolution, all rights and properties of the foundation shall pass to and be vested in the state, subject to the rights of any bondholders, lienholders and other creditors.
§ 21-21A-21 NMSA 1978
Dissolution of foundation
Known as the Educational Assistance Act
The act spans §§ 21–21 (25 sections).
Laws 1981, ch. 319, § 21; 2011, ch. 168, § 7.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.