Section 21-28-14 – Limitation of liability.
The members of the board of directors of a research park corporation, while acting within the scope of their authority, and any person acting in their behalf, while acting within the scope of the person’s authority, shall not be personally liable for the corporation’s obligations. History: Laws 1989, ch. 264, § 14; 1991, ch. 220, […]
Section 21-28-15 – Rights of holders of bonds.
Any holder of bonds issued under the provisions of the University Research Park and Economic Development Act or any coupons appertaining thereto, and the trustee under any trust agreement or resolution authorizing the issuance of those bonds, except as the rights given pursuant to that act may be restricted by a trust agreement or resolution, […]
Section 21-28-16 – Legal investments; tax exemption.
All bonds issued by a research park corporation under the University Research Park and Economic Development Act are legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees and guardians and for the sinking funds of political subdivisions, departments, institutions and agencies of this state. When accompanied […]
Section 21-28-17 – Annual report and audit.
A. A research park corporation shall, within ninety days following the close of each fiscal year, submit an annual report of its activities for the preceding year as required by the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] or the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978] under which […]
Section 21-28-18 – Repealed.
ANNOTATIONS Repeals. — Laws 1991, ch. 220, § 6 repealed 21-28-18 NMSA 1978, as enacted by Laws 1989, ch. 264, § 18, relating to investment of funds, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
Section 21-28-19 – Gifts by persons, corporations, institutions and associations.
A. Any person or domestic corporation or association may make contributions or gifts, grants, bequests, devises or loans to a research park corporation. B. Any university or nonprofit corporation having funds available for research and development, regardless of the provisions of its charter, certificate of incorporation or other articles of organization including bylaws, may loan […]
Section 21-28-20 – Conflicts of interest.
A. If any director, officer or employee of a research park corporation is interested either directly or indirectly or is an officer or employee of or has any ownership interest in any firm or legal entity interested directly or indirectly in any contract with the research park corporation, except for any agency, instrumentality, department or […]
Section 21-28-21 – Dissolution of research park corporation.
On termination or dissolution of a research park corporation, all rights and properties of the research park corporation shall pass to and be vested in the university which formed the research park corporation, subject to the rights of any bondholders, lienholders, creditors or ownership interests in the research park corporation. History: Laws 1989, ch. 264, […]
Section 21-28-22 – Agreement with the state.
The state does hereby pledge to and agree with the holders of any bonds or notes issued under the University Research Park and Economic Development Act that the state will not limit or alter the rights hereby vested in the research park corporation by that act to fulfill the terms of any agreement made with […]
Section 21-28-23 – Work to conform to federal law when aided by federal appropriations.
In the event of congress making appropriations for the conduct of work similar to that specified in the University Research Park and Economic Development Act, the work of the research park shall conform to the requirements imposed as the conditions for those federal appropriations in order that the work of the research park may be […]