N.M. Stat. § 21-7-5 (2026)

bond of secretary-treasurer; conditions.]
    The board of regents of the university of New Mexico shall meet and organize by the
election of its officers at Albuquerque, in Bernalillo county, on the second Monday in
March in each year; all officers so elected shall hold their offices until their successors
are duly elected and qualified. At such elections they shall elect a president and a
secretary and treasurer from their number. The person so elected as secretary and
treasurer shall, before entering upon the discharge of his duties as such, execute a
good and sufficient bond to the state of New Mexico, with two or more sufficient
sureties, residents of this state, in the penal sum of not less then twenty thousand
dollars [($20,000)], conditioned for the faithful performance of his duties as such
secretary and treasurer, and that he will faithfully account for and pay over to the person
or persons entitled thereto all moneys which shall come into his hands as such officer,
which said bond shall be approved by the governor of the state, and shall be filed with
the secretary of state.

History: Laws 1889, ch. 138, § 12; C.L. 1897, § 3574; Code 1915, § 5121; C.S. 1929, §
130-905; 1941 Comp., § 55-2405; 1953 Comp., § 73-25-5.
                                     ANNOTATIONS

Bracketed material. — The bracketed material was inserted by the compiler and is not
part of the law.

Cross references. — For tenure of office of state officers, see N.M. Const., art. XX, §
2.

Effect on secretary-treasurer of New Mexico state university. — This section and
21-8-4 NMSA 1978 require the secretary-treasurer of the board of regents of the college
of agriculture and mechanic arts (New Mexico state university) to execute a bond to the
state of $20,000 before entering on the discharge of his duties. State v. Llewellyn, 1917-
NMSC-031, 23 N.M. 43, 167 P. 414, cert. denied, 245 U.S. 666, 38 S. Ct. 63, 62 L. Ed.
538 (1917).

Term of treasurer. — The treasurer of the board would still continue as such until the
election and qualification of his successor under this section. Bowman Bank & Trust Co.
v. First Nat'l Bank, 1914-NMSC-014, 18 N.M. 589, 139 P. 148.

Treasurer of state university may transfer a certificate of deposit from one
depository to another. State v. Llewellyn, 1917-NMSC-031, 23 N.M. 43, 167 P. 414,
cert. denied, 245 U.S. 666, 38 S. Ct. 63, 62 L. Ed. 538 (1917); Bowman Bank & Trust
Co. v. First Nat'l Bank, 1914-NMSC-014, 18 N.M. 589, 139 P. 148.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 63A Am. Jur. 2d Public Officers and
Employees §§ 487, 488.

Malfeasance in office, public officer's bond as subject to forfeiture for, 4 A.L.R.2d 1348.

14A C.J.S. Colleges and Universities § 14.