New Mexico § 19-1-1.4 - State land trusts advisory board; duties

§ 19-1-1.4. State land trusts advisory board; duties

A. The consensus and advice of the state land trusts advisory board are intended to

provide a continuity for resource management and to help the commissioner of public

lands with understanding and maintaining the highest standards for maximizing the

income from the trust assets, and to protect and maintain the assets and resources

of the trust as required by the constitution of New Mexico, the Enabling Act for New

Mexico and state statute. To that end, the board shall review the policies and practices of the commissioner

of public lands and shall advise the commissioner on how such policies and practices

affect and achieve those goals. B. No action of the state land trusts advisory board shall be binding on the commissioner

of public lands, who alone has the constitutional and fiduciary responsibility as

trustee for the trusts. C. The commissioner of public lands shall hold at least one meeting per year jointly

with the state land trusts advisory board and the administrative head or designee

of the beneficiary institutions. At annual beneficiary meetings the commissioner shall inform and discuss with the

representatives of the beneficiaries and the board the plans, goals, objectives, budget,

revenue projections, asset management issues and all other pertinent information regarding

the state land trusts.