If an eligible entity that has received a loan or contract for services for a capital project ceases to maintain its nonprofit status or ceases to deliver primary care services at the site of the capital project for twelve consecutive months, the authority may pursue the remedies provided in the loan agreement or contract for services or as provided by law. History: Laws 1994, ch. 62, § 15; 1997, ch. 230, § 3; 2023, ch. 129, § 10. ANNOTATIONSThe 2023 amendment, effective June 16, 2023, authorized the New Mexico finance authority to pursue remedies provided in a loan agreement or contract for services or as provided by law when an eligible entity has violated the terms of such agreements; and substituted 'state' with 'authority'. The 1997 amendment, effective June 20, 1997, substituted 'may pursue the remedies provided in the loan agreement or contract for services as provided by law' at the end of the section for language relating to the state having specific remedies at its option, subject to other liens having preference.
New Mexico Legal Code