The hospital governing board of a county hospital and regents of a state educational institution operating a county hospital under a contract approved by the state board of finance may establish retirement plans and programs for employees of a county hospital under their control. In establishing a retirement plan or program for county hospital employees, the governing board of the hospital may contract with private insurance companies. Any retirement benefits payable or paid to a county hospital employee resulting from a retirement plan or program authorized under this section are employee benefits and part of consideration for services rendered and are not donations to the employee.
§ 4-48B-17 NMSA 1978
Governing boards of county hospitals authorized to establish retirement plans and programs for employees of county hospitals
Known as the Hospital Funding Act
The act spans §§ 4–4 (29 sections).
1953 Comp., § 15-48-15, enacted by Laws 1973, ch. 343, § 1; 1978 Comp., § 4-48-16, recompiled as § 4-48B-17 by Laws 1981, ch. 83, § 17; 1982, ch. 11, § 3.
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.