N.M. Stat. » N.M. Stat. / Chapter 6 / Article 8
New Mexico Statutes

N.M. Stat. § 6-8-1 (2026)

Definitions.

✓ current as of May 2026
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As used in Chapter 6, Article 8 NMSA 1978:

   A. "council" means the state investment council;

   B. "department" means the department of finance and administration;
    C. "land grant permanent funds" means the permanent school fund established by
Article 12, Section 2 of the constitution of New Mexico and all other permanent funds
derived from lands granted or confirmed to the state by the act of congress of June 20,
1910, entitled "An Act To enable the people of New Mexico to form a constitution and
state government and be admitted into the Union on an equal footing with the original
States...";

   D. "permanent funds" means the land grant permanent funds, rural libraries
endowment fund, severance tax permanent fund, tobacco settlement permanent fund,
conservation legacy permanent fund and water trust fund;

   E. "secretary" means the secretary of finance and administration;

   F. "severance tax permanent fund" means the fund established by Article 8, Section
10 of the constitution of New Mexico;

   G. "tobacco settlement permanent fund" means the fund established by Section 6-4-
9 NMSA 1978; and

   H. "water trust fund" means the fund established by Article 16, Section 6 of the
constitution of New Mexico.

History: 1953 Comp., § 11-2-8.4, enacted by Laws 1957, ch. 179, § 1; 1977, ch. 247, §
95; 1983, ch. 301, § 11; 1983, ch. 306, § 1; 1997, ch. 135, § 1; 1997, ch. 183, § 1; 2015,
ch. 95, § 1; 2019, ch. 165, § 5; 2023, ch. 26, § 1.

                                    ANNOTATIONS

The 2023 amendment, effective June 16, 2023, added the "conservation legacy
permanent fund" to the definition of "permanent funds"; and in Subsection D, after
"tobacco settlement permanent fund", added "conservation legacy permanent fund".

The 2019 amendment, effective July 1, 2019, included the "rural libraries endowment
fund" within the definition of "permanent funds", as used in Chapter 6, Article 8 NMSA
1978; and in Subsection D, after "land grant permanent funds", added "rural libraries
endowment fund".

The 2015 amendment, effective June 19, 2015, amended certain definitions relating to
public finances and the investment of public money; deleted Subsections A, B and C;
redesignated Subsection D as Subsection A; and added new Subsections B through H.

The second 1997 amendment, effective on the date the United States congress
consents to amendments of N.M. Const., art. VIII, § 10 and article XII, §§ 2, 4 and 7,
approved at the 1996 general election, effected the same changes in the section as the
first 1997 amendment. The United States Congress approved the constitutional
amendments in P.L. 105-37, 111 Stat. 1113, the New Mexico Statehood and Enabling
Act Amendments of 1997, approved August 7, 1997.

The first 1997 amendment, effective April 9, 1997, substituted "Chapter 6, Article 8" for
"Sections 6-8-1 through 6-8-16" in the introductory language and substituted "land grant
permanent funds" for "permanent fund" in Subsection C.

The restrictions specified in this article are valid and constitutional. 1958 Op. Att'y
Gen. No. 58-10.
Notes of Decisions
Cited in 5 cases, 1958–2016 · leading case: State Ex Rel. King v. Lyons, 248 P.3d 878 (N.M. 2011).
Sort: Relevance Newest Treatment
State Ex Rel. King v. Lyons, 248 P.3d 878 (N.M. 2011). · cites it 4× “…by the State Investment Officer for the benefit of enumerated public institutions. See N.M. Const. art. XII, §§ 2, 7; NMSA 1978, §§ 6-8-1 to -22 (1957) (amended 2010); NMSA 1978, § 19-1-17 (1957) (amended 2010); State v. Llewellyn, 23 N.M. 43, 70 , 167 P. 414, 423 (1917).…”
New Mexico State Inv. Council v. Weinstein, 2016 NMCA 069 (N.M. Ct. App. 2016). · cites it 2× “Compare NMSA 1978, §§ 6-8-1 to -24 (1957, as amended through 2015), with NMSA 1978, § 58-24-5(A) (1983) (stating that the Industrial and Agricultural Finance Authority “shall have all the powers necessary or convenient to carry out and effectuate the purposes and provisions of…”
Johnston v. Bd. of Educ. of Portales Msd, 333 P.2d 1051 (N.M. 1958). · cites it 4× “, § 6-8-1, classifying "school districts," along with "counties, cities, towns," etc.”
State v. Doe, 537 P.2d 1399 (N.M. 1975). “…need of care or rehabilitation” in that he had violated the Village of Carrizozo curfew ordinance § 6-9-1 (actually § 6-8-1) and possessed alcoholic beverages contrary to § 45-10-12 (actually §§ 46-10-12 and 46-10-19, N.M.S.A., 1953 (Repl.Vol. 7, 1973 Supp.)). At the lower…”
N.M. State Inv. Council v. Weinstein (N.M. Ct. App. 2016). “Compare NMSA 1978, 15 §§ 6-8-1 to -24 (1957, as amended through 2015), with NMSA 1978, § 58-24-5(A) 16 (1983) (stating that the Industrial and Agricultural Finance Authority “shall have all 17 the powers necessary or convenient to carry out and effectuate the purposes and 18…”
— N.M. Stat. § 6-8-1(a) — 1 case
Johnston v. Bd. of Educ. of Portales Msd, 333 P.2d 1051 (N.M. 1958). “, § 6-8-1, classifying "school districts," along with "counties, cities, towns," etc.”
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