New Mexico § 13-1B-7 - Repayment of loans to the fund
Full text of New Mexico New Mexico Statutes Annotated § 13-1B-7 — Repayment of loans to the fund, with citation guidance and answers to common questions.
§ 13-1B-7. Repayment of loans to the fund
A. When developing the repayment schedule for loans from the fund, the department
shall consider the projected savings from alternative fuel. B. The department of finance and administration shall collect and account for the
loans made from the fund, and it shall have custody of all of the original loan documents,
including all notes and contracts evidencing the amounts owed to the fund. C. Loans shall be made for a period of time not to exceed seven years, with an annual
interest rate of zero percent. A loan shall be repaid in equal annual installments, with the first annual installment
due within one year of the date on which the loan is issued. D. Loans shall be made only for eligible items.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 13-1B-7
What does New Mexico Statutes Annotated § 13-1B-7 cover?
Section 13-1B-7 ("Repayment of loans to the 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 § 13-1B-7?
A common citation format is "New Mexico Statutes Annotated § 13-1B-7" (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-7 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.