The functions, powers and duties vested by law relating to the investment or reinvestment of money and the purchase, sale or exchange of investments or securities of the severance tax permanent fund are transferred to the council. The state treasurer shall maintain custody of the severance tax permanent fund but shall at all times render the fund or any part of it available for investment in accordance with the provisions of Sections 7-27-1 through 7-27-48 NMSA 1978.
History: 1978 Comp., § 7-27-3.1, enacted by Laws 1983, ch. 306, § 5.
ANNOTATIONSEffective dates. — Laws 1983, ch. 306, § 14 made Laws 1983, ch. 306, § 5 effective July 1, 1983.