Section 9-15-53 - Definitions. - New Mexico Statutes

9-15-53. Definitions.

As used in the Minority Business Assistance Act [9-15-52 NMSA 1978]:

A.     "department" means the economic development department; and

B.     "minority business" means a business, with its principal place of business in New Mexico:

(1)     the majority ownership of which is held by individuals who are residents of New Mexico and African Americans, Hispanic Americans, Asian Americans or Native Americans; and

(2)     that employs twenty or fewer people.