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Prior to the exercise of any of the powers conferred by Section 13 of the Hospital Equipment Loan Act, the council may:
A. require that the lease or installment purchase contract or loan agreement involved be insured by a loan insurer, be guaranteed by a loan guarantor or be secured by a letter of credit; or
B. require any other type of security from the participating health facilities or banks, savings and loan associations or other entities that it deems reasonable and necessary.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-23-14. Optional powers - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-58-financial-institutions-and-regulations/nm-st-sect-58-23-14.html
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