Bonds are legal investments for savings banks and insurance companies under the laws of this state. They are bonds, notes or other obligations of a municipal subdivision of this state, issued pursuant to a law of this state, for the purposes of investment or purchase by the state investment officer.
§ 3-52-12 NMSA 1978
Legal investments
Known as the Municipal Transit Law
The act spans §§ 3–3 (16 sections).
1953 Comp., § 14-53-12, enacted by Laws 1965, ch. 300.
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.