New Mexico § 13-1B-4 - Revolving loan fund created; administration
Full text of New Mexico New Mexico Statutes Annotated § 13-1B-4 — Revolving loan fund created; administration, with citation guidance and answers to common questions.
§ 13-1B-4. Revolving loan fund created; administration
A. The “alternative fuel acquisition loan fund” is created in the state treasury as
a revolving loan fund. The department shall administer the fund and make loans from the fund in accordance
with the Alternative Fuel Acquisition Act. B. The fund shall consist of earnings on balances in the fund, receipts from the repayment
of loans made pursuant to the Alternative Fuel Acquisition Act and appropriations
made by the legislature. C. The fund balance shall not exceed five million dollars ($5,000,000), and any balance
in the fund of five million dollars ($5,000,000) or less shall not revert to the general
fund at the end of any fiscal year. Interest on cash balances and repayment of loans in excess of the amount necessary
to maintain the fund balance at five million dollars ($5,000,000) shall be deposited
in the general fund. D. Administrative costs of the fund shall be paid by the department until interest
revenues in the fund are sufficient to cover administrative costs, at which time administrative
costs may be paid from the fund. E. Expenditures from the fund shall be supported by loan documents evidencing the
intent of the borrower to repay the loan. The original loan documents shall be filed with the department of finance and administration,
and a copy shall be filed with the department.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 13-1B-4
What does New Mexico Statutes Annotated § 13-1B-4 cover?
Section 13-1B-4 ("Revolving loan fund created; administration") 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 § 13-1B-4?
A common citation format is "New Mexico Statutes Annotated § 13-1B-4" (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 § 13-1B-4 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.