The treasurer of any such district shall, when directed by resolution of the board, invest such guaranty fund, and the income thereof, in the United States government bonds or municipal bonds approved for savings bank investment in the states of New York and Massachusetts, so that the same may always be readily convertible into cash if and when needed for the purposes in this act [ 73-16-41 to 73-16-49 NMSA 1978] provided.
§ 73-16-45 NMSA 1978
[Investment of guaranty fund.]
Laws 1931, ch. 50, § 5; 1941 Comp., § 77-2944; 1953 Comp., § 75-30-44.
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.