New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 7 - TUITION AND FINANCIAL AID
Part 24 - EDUCATIONAL LOAN PURCHASE PROGRAM REGULATIONS
Section 5.7.24.9 - PURCHASE OF NOTES OR BONDS

Any persons (or any related person, as defined in Section 147 (a) (2) of the Internal Revenue Code of 1986, as amended), from whom the foundation may, under the program, acquire student loans shall not, pursuant to any arrangement, formal or informal, purchase bonds, notes or obligations of the foundation, if such notes or bonds or other obligations were issued with the intention that they be federally tax-exempt, in an amount related to the amount of the student loans to be acquired under the program from such person by the foundation.