New Mexico Administrative Code

State Investment Council.

Sections 7-27-5, 7-27-5.2, 6-8-7, 6-10-10, 6-10-16, 6-10-17, 6-10-18, 6-10-20, 6-10-24.1, 6-10-29 and 6-10-35 NMSA 1978.

[Permanent.]

These rules will become effective five (5) days after filing with the records and rules commission. [Filed June 6, 1988, effective June 11, 1988]

In the exercise of it's authority under Sections 7-27-5, 7-27-5.2, 6-8-7, 6-10-10, 6-10-16, 6-10-17, 6-10-18, 6-10-20, 6-10-24.1, 6-10-29 and 6-10-35 NMSA 1978, the state investment council (the "council") desires to minimize potential risks to existing and future deposits of sev…

A. "Securities" shall be defined as those securities eligible as collateral for severance tax permanent funds under Section 6-10-16 and 7-27-5.2 [repealed], as amended, and effective May 21, 1986, Art IV, Sec. 23, N.M. Constitution. B. "Mortgages", shall be defined as eligible mo…

A. The investment officer is directed to require collateral to be maintained for institutions within each classification at levels in accordance with the following schedule for all new deposits and all reinvestments of existing deposits. These rules will become effective five (5)…

A. In the event of a premature withdrawal of deposits, the savings and loan association may impose the minimum penalty provided by federal law. B. The figures to be used by the investment officer in the risk-assessment analyses shall be calculated by each savings and loan associa…

State Investment Council, 2055 S. Pacheco Street, Suite 100, Santa Fe, New Mexico 87505

To provide both timeliness and certainty in loan payments the state investment office may convert each SBA loan purchased after July 1, 1989 to a depository receipt, offered by Colson Acquisition Service to guarantee payments on the same day every month. Also, all loans currently…

New Mexico small business administration or farmers home administration.

Pursuant to Section 7-27-5.4(A) NMSA 1978 as amended pursuant to Senate Bill 1018 approved by the 41st legislature of the state of New Mexico, 2nd session, which says, in part" no more than ten percent of the book value of the severance tax permanent fund (the STPF") may be inves…

Permanent.

June 15, 1999 unless a later date is specified at the end of a section or paragraph.

As amended pursuant to Senate Bill 1018 approved by the 41st legislature of the state of New Mexico, 2nd session, which says, in part" no more than ten percent of the book value of the severance tax permanent fund (the STPF") may be invested in notes or obligations securing loans…

A. IMPLEMENTATION: Commitments made on behalf of the STPF to purchase the SBA or FmHA guaranteed portion of loans before Senate Bill 1018 of the 41st New Mexico legislature, 2nd session, was passed and became law shall be honored according to the rates, servicing fees and other t…

Upon approval of a loan by the SBA/FmHA, the originating financial institution desiring to sell the loan to the state investment council should contact the SBA/FmHA portfolio manager by phone or in writing to request a commitment. The portfolio manager will provide a commitment a…

State Investment Council.

Sections 7-27-5, 7-27-5.2 [repealed], 6-8-7, 6-10-10, 6-10-16, 6-10-17, 6-10-18, 6-10-20, 6-10-24.1, 6-10-29 and 6-10-35 NMSA 1978

[Permanent.]

These rules will become effective five (5) days after filing with the records center and archives commission. [Filed June 6, 1988, effective June 11, 1988]

In the exercise of it's authority under Sections 7-27-5, 7-27-5.2 [repealed], 6-8-7, 6-10-10, 6-10-16, 6-10-17, 6-10-18, 6-10-20, 6-10-24.1, 6-10-29 and 6-10-35 NMSA 1978, the state investment council (the "council") desires to minimize potential risks to existing and future bank…

A. "Securities" shall be defined as those securities eligible as collateral for severance tax permanent funds under Section 6-10-16 and 7-27-5.2 [repealed], as amended, and effective May 21, 1986, Art. IV, Section 23, N.M. Constitution. B. "Mortgages", shall be defined as eligibl…

A. The investment officer shall require collateral levels to be maintained for all institutions (within each classification) in accordance with the following schedule for both new deposits and reinvestments of existing deposits. These rules will become effective five (5) days aft…

A. In the event of a premature withdrawal of deposits, the bank may impose the minimum penalty provided by federal law. B. The figures to be used by the investment officer in the risk-assessment analyses shall be calculated by each bank, including those relying on FDIC insurance …

Office of the State Treasurer, State Cash Manager.

State agencies including the state treasurer and state investment council are required to submit a report on each checking, savings and investment account at least monthly or as otherwise specified by the cash manager. Monthly reports must be submitted and received by the office …

The transfer of funds to the state treasurer from checking or savings accounts must not be made less frequently than agency transfer as authorized by the cash manager. Any significant changes in deposit volume should be reported as soon as possible. Any requested changes in trans…

When closing a checking or savings account, each state agency shall submit a written certification stating the account is closed, the circumstances necessitating the closing of the account, and a final bank or savings and loan statement indicating a zero balance.

The cash manager shall combine accounts where feasible and instruct state agencies on deposit and reconciliation procedures.

All state fund deposit accounts should be placed in interest bearing accounts when feasible. All state agencies maintaining demand deposit accounts are encouraged to establish interest bearing accounts whenever possible. A written explanation as to why the account is not in an in…

All state agency deposits of investments unless the agency has been specifically exempted by law. As used in this policy, the term state agency "shall mean the state of New Mexico or any of its branches, agencies, departments, boards, instrumentalities or institutions other than …

Article V, Section 1, New Mexico Constitution; Section 6-1-13 NMSA 1978; Sections 6-10-24.1, 6-10-26 and 6-10-29 NMSA 1978.

Permanent.

3-2-84, unless a later date is cited at the end of a section or paragraph.

The objective of Part 2 Chapter 6 [now 2.60.2 NMAC] is to establish standards and procedures for uniform investing of state funds and proper reporting procedures.

Procedures: A state agency may not open a new deposit account or deposit money in an existing deposit account unless it has submitted a request to the office of the state cash manager in writing on forms prescribed by the cash manager and received written authorization from the c…

A. As used in this policy, the term "investment account" shall mean all in-state certificates of deposit, money market accounts and repurchase agreements. B. REPORTING PROCEDURES: It is the responsibility of each state agency to provide written constitutional or statutory authori…

New Mexico State Investment Council.

[Permanent]

[Filed March 29, 1993]

A. PROGRAM STRUCTURE: (1) The national venture capital investment program of the state of New Mexico's severance tax permanent fund (STPF, or fund) is intended to produce significant capital gains to the fund corpus and additional diversification for the fund's assets. The ventur…

A. INTRODUCTION: (1) The 1990 New Mexico legislature passed an amendment (House Bill 140) to the original 1987 venture capital statute which created a New Mexico-oriented venture capital program, and authorized up to one-half percent of the severance tax permanent fund for potent…

State Investment Council.

The funds available for investment in the certificate of deposit program will be allocated in accordance with the following criteria: A. In order to have reasonable diversification as required by Section 6-8-7, economic stimulation as required by Section 7-27-5, and protection of…

These regulations will apply to applications received by the state investment council from banks, savings and loan associations, and credit unions for all deposits, including reinvestment of existing deposits, deposits made in addition to existing deposits in an institution, and …