Section 76-6B-12 - Disposition of assessment proceeds. - New-mexico Statutes

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Statutes > New-mexico > Chapter-76 > Article-6b > Section-76-6b-12

76-6B-12. Disposition of assessment proceeds.

Money collected by a local pink bollworm control committee is not state funds and is not required to be deposited in the state treasury. A local committee shall deposit all money collected in a state chartered bank or other insured depository. Funds collected by local committees shall be held separate from each other. Money remaining after the abolishment of a pink bollworm control district shall be distributed to cotton producers in proportion to the percentage they contributed during the life of the pink bollworm control district.

State Codes and Statutes

Statutes > New-mexico > Chapter-76 > Article-6b > Section-76-6b-12

76-6B-12. Disposition of assessment proceeds.

Money collected by a local pink bollworm control committee is not state funds and is not required to be deposited in the state treasury. A local committee shall deposit all money collected in a state chartered bank or other insured depository. Funds collected by local committees shall be held separate from each other. Money remaining after the abolishment of a pink bollworm control district shall be distributed to cotton producers in proportion to the percentage they contributed during the life of the pink bollworm control district.

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State Codes and Statutes

Statutes > New-mexico > Chapter-76 > Article-6b > Section-76-6b-12

76-6B-12. Disposition of assessment proceeds.

Money collected by a local pink bollworm control committee is not state funds and is not required to be deposited in the state treasury. A local committee shall deposit all money collected in a state chartered bank or other insured depository. Funds collected by local committees shall be held separate from each other. Money remaining after the abolishment of a pink bollworm control district shall be distributed to cotton producers in proportion to the percentage they contributed during the life of the pink bollworm control district.