New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 79 - INDIVIDUAL DEVELOPMENT ACCOUNTS
Part 1 - GENERAL PROVISIONS
Section 2.79.1.6 - OBJECTIVE

Universal Citation: 2 NM Admin Code 2.79.1.6

Current through Register Vol. 35, No. 18, September 24, 2024

The Individual Development Account Act (Sections 58-30-1 through 58-30-12 NMSA 1978; being Laws 2003, Chapter 362) established a structure to provide oversight to individual development account programs in New Mexico funded through the act. These rules are designed to:

A. identify and promote quality individual development account initiatives throughout the state while encouraging innovation and diversity;

B. ensure accountability of account owners, account programs, program administrators as well as other stakeholders; and

C. provide standards of eligibility and program administration for individual development account programs in New Mexico.

Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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