A board may invest or deposit funds in accordance with the prudent investor rule set forth in the Uniform Prudent Investor Act [ 45-7-601 to 45-7-612 NMSA 1978]. The board may employ investment management services to invest the funds and may pay reasonable compensation for investment management services from the assets of the applicable funds. The board shall keep accurate and complete records and accounts concerning the investment portfolio.
§ 73-25-10 NMSA 1978
Investments
Known as the Regional Transit District Act
The act spans §§ 73-25-1 to 73-25-9 (19 sections).
Laws 2003, ch. 65, § 10.
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.