Section 3-60C-3 - Definitions. - New Mexico Statutes

3-60C-3. Definitions.

As used in the Main Street Revolving Loan Act [3-60C-1 NMSA 1978]:

A.     "committee" means the main street revolving loan committee;

B.     "division" means the historic preservation division of the cultural affairs department;

C.     "eligible property" means a site, structure, building or object that is subject to the Main Street Act or otherwise found pursuant to rule of the committee to merit preservation pursuant to the Main Street Revolving Loan Act;

D.     "fund" means the main street revolving loan fund;

E.     "lending institution" means a bank, savings and loan association, credit union or nonprofit organization with lending programs as part of its bylaws; and

F.     "property owner" means the sole owner, joint owner, owner in partnership or an owner of a leasehold interest with a term of five years or longer of an eligible property.