New Mexico § 15-7-6 - Workers' compensation retention fund
Full text of New Mexico New Mexico Statutes Annotated § 15-7-6 — Workers' compensation retention fund, with citation guidance and answers to common questions.
§ 15-7-6. Workers' compensation retention fund
A. There is created in the state treasury the “workers' compensation retention fund”. B. Money deposited in, earned by or appropriated to the workers' compensation retention
fund may be used by the director to: (1) purchase workers' compensation insurance; (2) establish appropriate reserves to provide workers' compensation coverage for employees
of state agencies or employees of covered educational entities; (3) pay workers' compensation claims in accordance with the Workers' Compensation
Act; (4) enter into consulting and other contracts as may be necessary or desirable in
carrying out the provisions of this section; and (5) pay costs or expenses incurred in carrying out the provisions of this section. C. For the purposes of this section, “ covered educational entities ” means school districts as defined in Section 22-1-2 NMSA 1978 and educational institutions established pursuant to Chapter 21, Articles 13, 16 and 17 NMSA 1978 that request and are granted coverage from the risk management division of the general
services department, if the coverage is commercially unavailable; except that coverage
shall be provided to a school district only through the public school insurance authority
or its successor unless the district has been granted a waiver by the authority or
the authority is not offering the coverage for the fiscal year for which the division
offers its coverage. A local school district to which the division may provide coverage may provide for
marketing and servicing to be done by licensed insurance agents who shall receive
reasonable compensation for their services.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 15-7-6
What does New Mexico Statutes Annotated § 15-7-6 cover?
Section 15-7-6 ("Workers' compensation retention fund") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 15-7-6?
A common citation format is "New Mexico Statutes Annotated § 15-7-6" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 15-7-6 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.