This act [53-7A-1 through 53-7A-6] may be cited as the “Economic Development Corporation Act”. History: Laws 2003, ch. 183, § 1. ANNOTATIONS Effective dates. — Laws 2003, ch. 183 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2003, 90 days after adjournment of the legislature.
The purposes of the Economic Development Corporation Act are to: A. promote, stimulate, develop and advance business, prosperity, employment and economic welfare in the state and among its citizens; B. encourage and assist the location of new business and industry in this state and the rehabilitation and expansion of existing business and industry; C. cooperate […]
A. A nonprofit organization to provide economic development services to the state is authorized to be organized and formed under the provisions of the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] and the Economic Development Corporation Act. B. The corporation shall be governed by a board of directors composed of fifteen members as […]
The corporation shall have the powers conferred upon domestic nonprofit corporations by the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] unless otherwise specified in the Economic Development Corporation Act and shall also have the power to: A. sue and be sued in its corporate name; B. purchase, take, receive or otherwise acquire; own, […]
Pursuant to policies established by its board of directors and as directed by its president, the corporation shall: A. establish relationships with communities throughout New Mexico in order to understand their economic development goals; B. work for those communities in recruiting the types of businesses and jobs that have been identified by the communities; C. […]
A. The corporation formed pursuant to the Economic Development Corporation Act is separate and apart from the state and shall not be deemed an agency, public body or other political subdivision of New Mexico for purposes of applying laws relating to personnel, procurement of goods and services, gross receipts tax, disposition or acquisition of property, […]
