45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO PUBLIC MONEY; CLARIFYING THAT EARNINGS INCLUDE REALIZED AND UNREALIZED GAINS AND LOSSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 6-10-2.1 NMSA 1978 (being Laws 1989, Chapter 324, Section 41, as amended) is amended to read:

"6-10-2.1. STATE TREASURER--DUTY.--The state treasurer shall identify and allocate to the general fund all earnings [on and], including realized and unrealized gains and losses, from the investment of all accounts or funds in his custody unless the allocation of the earnings [and realized and unrealized gains and losses are] is:

A. otherwise [specifically] provided by law;

B. prohibited by federal law creating the fund or the account or by specific court order; or

C. from the investment of a permanent fund and the use of the interest and income from the fund is restricted by constitutional or statutory provisions to particular purposes."