If an eligible entity that has received a loan or contract for services for a project ceases to maintain its nonprofit status or ceases to deliver behavioral health services at the site of the project for twelve consecutive months, the authority may pursue the remedies provided in the loan agreement or contract for services or as provided by law. History: Laws 2004, ch. 71, § 7; 2023, ch. 129, § 5. The 2023 amendment, effective June 16, 2023, authorized the New Mexico finance authority to pursue remedies provided in a contract for services when an entity has violated the terms of the contract; and after "received a loan", added "or contract for services", deleted "capital" preceding each occurrence of "project", substituted "state" with "authority", and after "loan agreement", added "or contract for services".
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