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Section 51-1-14 - Financing benefits paid to employees of governmental entities.

NM Stat § 51-1-14 (2019) (N/A)
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A. State agencies shall make payments in lieu of contributions in accordance with the provisions of Sections 51-1-15 and 51-1-45 NMSA 1978.

B. Local public bodies shall finance benefits paid to an individual based on services performed in their employ by:

(1) participating in the local public body compensation reserve fund;

(2) paying contributions to the department; or

(3) making an election to become liable for payments in lieu of contributions in accordance with the provisions of Subsection B or E of Section 51-1-13 NMSA 1978.

History: 1953 Comp., § 59-9-7.5, enacted by Laws 1977, ch. 227, § 1; 1979, ch. 280, § 21.

Cross references. — For applicability of act, see 51-1-47 NMSA 1978.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 81 C.J.S. Social Security and Public Welfare §§ 183, 212.

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Section 51-1-15 - Risk management division; payments in lieu of contributions.