A. The 'private investigations fund' is created in the state treasury. B. All license and registration fees received by the department pursuant to the Private Investigations Act shall be deposited in the fund and are appropriated to the department to be used for the administration and implementation of that act. C. The state treasurer shall invest the fund as other state funds are invested, and all income derived from investment of the fund shall be credited to the fund. D. All balances in the fund shall remain in the fund and shall not revert to the general fund. E. The department shall administer the fund, and money in the fund shall be expended by warrant issued by the secretary of finance and administration on vouchers signed by the superintendent of regulation and licensing. F. No more than five percent of the fund shall be used by the department for administration of the fund. History: Laws 1993, ch. 212, § 18; § 61-27A-18 recompiled as § 61-27B-30; Laws 2007, ch. 115, § 30. ANNOTATIONSDelayed repeal. — For delayed repeal of the section, see 61-27B-36 NMSA 1978. Recompilations. — For recompilation of this section, see compiler's note following 61-27B-1 NMSA 1978. , § 30. ANNOTATIONSDelayed repeal. — For delayed repeal of the section, see 61-27B-36 NMSA 1978. Recompilations. — For recompilation of this section, see compiler's note following 61-27B-1 NMSA 1978. The 2007 amendment, effective July 1, 2007, creates the private investigations fund which is appropriated to the department and provides that no more than five percent of the fund shall be used for administration of the fund.
New Mexico Legal Code