Bonds issued under the provisions of Sections 3-32-1 through 3-32-16 NMSA 1978, shall be legal investments for savings banks and insurance companies organized under the laws of this state. History: 1953 Comp., § 14-31-10, enacted by Laws 1965, ch. 300. ANNOTATIONSPurchase by state investment council. — There is no authority for the state investment council to purchase municipal industrial revenue bonds as such. 1960 Op. Att'y Gen. No. 60-219.
New Mexico Legal Code