To be eligible to participate in the local public body unemployment compensation reserve fund noted in accordance with Section 51-1-46 NMSA 1978, an entity must:

1. A. Be a local public body as defined in 1.6.3.7 NMAC,
2. B. Not have voluntarily left or have been removed from the local public body unemployment compensation fund, within the past five years.
3. C. The local public body does not owe an outstanding financial obligation to RMD.
4. D. Apply for participation at least 90 days prior to the new fiscal year and have this application approved by the risk management division.

[1.6.3.12 NMAC - Rp, 1.6.3.12 NMAC, 12/11/2018]