New Mexico § 15-3B-20 - Property control reserve fund; created; purpose
Full text of New Mexico New Mexico Statutes Annotated § 15-3B-20 — Property control reserve fund; created; purpose, with citation guidance and answers to common questions.
§ 15-3B-20. Property control reserve fund; created; purpose
The “property control reserve fund” is created in the state treasury. The purpose of the fund is to provide a reserve account from which the division
can purchase, construct or renovate or plan for the construction or renovation of
state office buildings, in particular to alleviate the state's reliance on leased
office space. The fund shall consist of appropriations, money from the sale of real property under
the jurisdiction of the division, gifts, grants, donations, bequests and income from
investment of the fund. Money in the fund shall not revert to the general fund at the end of any fiscal
year. The division shall administer the fund subject to appropriation by the legislature. The legislature shall appropriate money in the fund to the division to purchase
or acquire land and purchase, construct or renovate or plan for the construction or
renovation of state office buildings in accordance with the state's four-year major
capital improvements plan. Disbursements from the fund shall be made on warrants drawn by the secretary of
finance and administration pursuant to vouchers signed by the director or the director's
authorized representative.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 15-3B-20
What does New Mexico Statutes Annotated § 15-3B-20 cover?
Section 15-3B-20 ("Property control reserve fund; created; purpose") 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 § 15-3B-20?
A common citation format is "New Mexico Statutes Annotated § 15-3B-20" (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 § 15-3B-20 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.