Definitions

As used in the Minority Business Assistance Act [9-15-52 to 9-15-55 NMSA 1978]: A. "department" means the economic development department; and B. "minority business" means a business, with its principal place of business in New Mexico: (1) the majority ownership of which is held by individuals who are residents of New Mexico and African Americans, Hispanic Americans, Asian Americans or Native Americans; and (2) that employs twenty or fewer people. History: Laws 2007, ch. 180, § 2.