The state treasurer of the state of New Mexico shall forward and pay over to the secretary and treasurer of said board of regents out of the income from the permanent funds of said school [New Mexico institute of mining and technology], a sum sufficient to make and establish the interest and retirement fund, as herein provided, and to annually pay over a sufficient amount for said purpose, to the end that said interest and retirement fund shall at all times be kept in the proper amount. The state treasurer shall use so much of the income and current fund of said school [institute] in his hands as shall be necessary to establish and at all times maintain said "interest and retirement fund" in the event there shall not be sufficient undistributed income from the permanent funds of said school [institute].
History: 1941 Comp., § 55-2622, enacted by Laws 1947, ch. 119, § 10; 1953 Comp., § 73-27-24.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
N.M. Const., art. XII, § 11, as repealed and reenacted November 8, 1960, changed the name of the New Mexico school of mines to the New Mexico institute of mining and technology. See 21-11-2 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Colleges and Universities § 35.
14A C.J.S. Colleges and Universities § 14.