N.M. Admin. Code § 19.2.18.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.18.8 - POLICY AND MEETINGS

It is the policy of the commissioner of public lands to provide the state land trusts advisory board with all information requested by the board regarding the policies and procedures, rules, and financial information of the New Mexico state land office. The commissioner shall cooperate with the board, which shall provide advice and assistance to the commissioner in protecting and maintaining the assets and resources of the state trust lands, and in maximizing the income from trust assets, as mandated by the constitution of New Mexico, the Enabling Act, and by state statute.

A. The commissioner and staff shall hold at least one meeting per year jointly with the state land trusts advisory board and the administrative head or designee of the beneficiary institutions. At this annual meeting, the commissioner shall inform and discuss the plans, goals, objectives, budget, revenue projections, asset management issues, and all other pertinent information regarding the state land trusts.

B. At least two times per year (in addition to the annual joint meeting with the state land trusts advisory board and beneficiaries), the commissioner shall meet with the board. The non-beneficiary board meetings shall be held when called by the chairman of the board, a majority of board members, or at the request of the commissioner. Board members may choose to participate in properly noticed meetings by telephone or other similar communications equipment, but only when attendance in person is difficult or impossible. Each board member participating by telephone or other similar equipment must be identified when speaking, all board members must be able to hear each other at the same time and hear any speaker, and members of the public attending the meeting must be able to hear any board member.

C. No action of the board is binding on the commissioner, who alone has the constitutional and fiduciary responsibility as trustee for the trusts.

N.M. Admin. Code § 19.2.18.8

12/31/99; 19.2.18.8 NMAC - Rn, 19 NMAC 2. SLO 18.8, 09/30/02; A, 02/29/12, Adopted by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016