Section 6-8-4 - Investment office; state investment officer; terms. - New Mexico Statutes

6-8-4. Investment office; state investment officer; terms.

A.     There is established an "investment office".  The chief administrative officer of the office shall be known as the "state investment officer". 

B.     The state investment officer shall be appointed by the council.  The state investment officer shall devote the officer's entire time and attention to the duties of that office and shall not engage in any other occupation or profession or hold any other public office, appointive or elective.  The officer shall be a person qualified, by training and investment experience, to direct the work of the investment office and shall have had at least five years' professional experience as an investment officer.  The officer shall receive a salary to be determined by the state investment council but in no case less than fifty thousand dollars ($50,000) annually. 

C.     The state investment officer shall serve for an initial term of two years beginning July 1, 1981 and thereafter for terms of four years.  The state investment officer may be removed from office by the council for cause.