New Mexico § 66-6-22.1 - Motor vehicle suspense fund created; receipts; disbursements

§ 66-6-22.1. Motor vehicle suspense fund created; receipts; disbursements

A. There is created in the state treasury a fund to be known as the “motor vehicle

suspense fund”. B. The fees collected under the provisions of Sections 66-1-1 through 66-6-19 NMSA 1978 shall be paid to the state treasurer for the credit of the motor vehicle suspense

fund not later than the close of the second business day after their receipt, except

as otherwise provided by the Off-Highway Motor Vehicle Act. C. Money deposited to the credit of or disbursed from the motor vehicle suspense fund

by the department shall be accounted for as provided by law, rule or procedure of

the secretary of finance and administration. D. The balance of the motor vehicle suspense fund is appropriated for the purpose

of making refunds, distributions and other disbursements authorized or required by

law to be made from the motor vehicle suspense fund, provided that no distribution

shall be made to a municipality, county or fee agent operating a motor vehicle field

office with respect to money collected and remitted to the department by that municipality,

county or fee agent until the report of the municipality, county or fee agent is audited

and accepted by the department.