Upon termination or dissolution, all rights and properties of the foundation shall pass to and be vested in the state, subject to the rights of any bondholders, lienholders and other creditors. History: Laws 1981, ch. 319, § 21; 2011, ch. 168, § 7. ANNOTATIONSThe 2011 amendment, effective June 17, 2011, eliminated references to the loan guarantee corporation organized under repealed Section 21-21A-4 NMSA 1978.
New Mexico Legal Code