N.M. Admin. Code § 19.2.21.15
Current through Register Vol. 35, No. 23, December 10, 2024
Section 19.2.21.15 - NOTICE TO BENEFICIARY INSTITUTIONSA. Upon causing a request for exchange proposals to be published as required by 19.2.21.10 NMAC above, the commissioner in the commissioner's discretion may submit to the beneficiary institutions for whose benefit the trust lands proposed to be exchanged are held in trust a copy of the request for exchange proposals and any statement of the commissioner's reasons for believing that such an exchange will be beneficial to the trust and to the beneficiary institutions. Upon entering into an exchange agreement as required by 19.2.21.14 NMAC above, the commissioner in the commissioner's discretion may submit to the beneficiary institutions a copy of the exchange agreement and any explanatory materials the commissioner finds appropriate.B. Upon consummation of an exchange, the commissioner shall submit a written report to all beneficiary institutions involved setting forth a description of the trust lands and the non-trust lands involved, their appraised values, the commissioner's reason for believing that the exchange will benefit the trust, and any other information the commissioner deems desirable.N.M. Admin. Code § 19.2.21.15
19.2.21.15 NMAC - Rp, 19.2.21.13 NMAC, 06/29/12, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019