N.M. Admin. Code § 2.60.22.7
Current through Register Vol. 36, No. 1, January 14, 2025
Section 2.60.22.7 - DEFINITIONSA. "Lender" shall mean a New Mexico bank or savings and loan which has made loans based upon the production potential of new oil and gas wells drilled in New Mexico and desires to sell a participation in the notes, obligation of mortgages to the severance tax permanent fund.B. "OGPAC" shall mean the oil and gas production assistance council as created in Section 7-27-5.12 NMSA 1978.C. "Production potential" of new oil and gas well(s) means the calculated fair market value of potential production of oil and gas reserves in New Mexico as determined by a qualified professional engineer based on evaluation of proven reserves.D. "SIC" shall mean the state investment council.N.M. Admin. Code § 2.60.22.7