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NEW MEXICO STATUTES AND CODES
Section 6-10-16.1 - Security for public deposits.
6-10-16.1. Security for public deposits.
All deposits of public funds shall be secured by securities as defined in Section 6-10-16 NMSA 1978 in the amount required by law or by surety bonds as provided for in Section 6-10-15 NMSA 1978. A surety company that issues a surety bond pursuant to this section shall be rated in the highest category by at least one nationally recognized statistical rating agency.
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