Section 21-22F-9 - Fund created; method of payment. - New Mexico Statutes

21-22F-9. Fund created; method of payment.

The "public service law loan repayment fund" is created in the state treasury.  All money appropriated for the public service law loan repayment program shall be credited to the fund and all payments for repayment of awards or penalties received by the commission shall be credited to the fund.  All payments for loan repayment awards shall be by warrant of the secretary of finance and administration upon vouchers signed by the designated representative of the commission.  Any unexpended or unencumbered balance remaining in the public service law loan repayment fund at the end of a fiscal year shall not revert to the general fund.