N.M. Stat. Ann. § 66-7-511
History: 1953 Comp., § 64-7-511, enacted by Laws 1978, ch. 35, § 498.
Bracketed material. — The bracketed material was inserted by the compiler and is not a part of the law.
Each gift with different terms must have own separate fund. — Prior to the acceptance of a gift to the New Mexico traffic safety commission (now traffic safety bureau) under Section 64-33-7, 1953 Comp. (similar to this section), the approval of the governor must be secured. Upon approval by the governor, the money should be deposited with the state treasurer. Each gift or grant which differs in its terms and conditions from any other must be set up in a separate fund. Although this may entail additional bookkeeping on the part of the state treasurer as well as the commission, this is the only method which will insure that every gift is expended in conformity with the conditions imposed upon it by the donor. Once the special fund or funds are set up by the state treasurer, these may be expended upon voucher of the director, processed in the usual manner. 1957 Op. Att'y Gen. No. 57-241.