New Mexico § 20-4-7.3 - Service members' life insurance reimbursement fund created; purpose; appropriation

§ 20-4-7.3. Service members' life insurance reimbursement fund created; purpose; appropriation

A. The “service members' life insurance reimbursement fund” is created as a nonreverting

fund in the state treasury. The fund shall consist of legislative appropriations to the fund; gifts, grants,

donations and bequests to the fund; and income from investment of the fund. Expenditures from the fund shall be made on warrants drawn by the secretary of finance

and administration signed by the adjutant general of the department of military affairs

or the adjutant general's authorized representative. B. The fund shall be administered by the department of military affairs, and money

in the fund is appropriated to the department of military affairs for the purpose

of reimbursing eligible members of the New Mexico national guard for premiums paid

for benefits under the servicemembers' group life insurance program pursuant to 38 U.S.C. Section 1965 et seq., as amended. C. The department of military affairs shall adopt rules necessary to determine eligibility

for reimbursement from the service members' life insurance reimbursement fund and

to implement a reimbursement program. D. Nothing in this section is intended to alter, amend or change the eligibility or

applicability of the servicemembers' group life insurance program pursuant to 38 U.S.C. Section 1965 et seq., as amended, or any rights, responsibilities or benefits thereunder.