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A. The authority shall have all powers necessary or convenient to carry out and effectuate the purposes and provisions of the New Mexico Lottery Act that are not in conflict with the constitution of New Mexico and that are generally exercised by corporations engaged in entrepreneurial pursuits, including the power to:
(1) sue and be sued;
(2) adopt and alter a seal;
(3) adopt, amend and repeal bylaws, rules, policies and procedures for the conduct of its affairs and its business;
(4) procure or provide insurance;
(5) hold copyrights, trademarks and service marks and enforce its rights with respect thereto;
(6) initiate, supervise and administer the operation of the lottery in accordance with the provisions of the New Mexico Lottery Act and rules, policies and procedures adopted pursuant to that act;
(7) enter into written agreements or contracts for the operation, participation in or marketing or promotion of a joint lottery or joint lottery games with operators of a lottery:
(a) in one or more other states;
(b) in a territory of the United States;
(c) in one or more political subdivisions of another state or territory of the United States;
(d) in a sovereign nation;
(e) in an Indian nation, tribe or pueblo located within the United States; or
(f) legally operated outside of the United States;
(8) acquire or lease real property and make improvements thereon and acquire by lease or by purchase personal property, including computers, mechanical, electronic and on-line equipment and terminals and intangible property, including computer programs, systems and software;
(9) enter into contracts to incur debt and borrow money in its own name and enter into financing agreements with the state, with agencies or instrumentalities of the state or with any commercial bank or credit provider;
(10) receive and expend, in accordance with the provisions of the New Mexico Lottery Act, all money received from any lottery or nonlottery source for effectuating the purposes of the New Mexico Lottery Act;
(11) administer oaths, take depositions, issue subpoenas and compel the attendance of witnesses and the production of books, papers, documents and other evidence relative to any investigation or proceeding conducted by the authority;
(12) appoint and prescribe the duties of officers, agents and employees of the authority, including professional and administrative staff and personnel, and to fix their compensation, pay their expenses and provide a benefit program, including a retirement plan and a group insurance plan;
(13) select and contract with lottery vendors and lottery retailers;
(14) enter into contracts or agreements with state, local or federal law enforcement agencies or private investigators or other persons for the performance of law enforcement, background investigations and security checks;
(15) enter into contracts of all types on such terms and conditions as the authority may determine;
(16) establish and maintain banking relationships, including establishment of checking and savings accounts and lines of credit;
(17) advertise and promote the lottery and lottery games;
(18) act as a lottery retailer, conduct promotions that involve the dispensing of lottery tickets and establish and operate a sales facility to sell lottery tickets and any related merchandise; and
(19) adopt, repeal and amend such rules, policies and procedures as necessary to carry out and implement its powers and duties, organize and operate the authority, conduct lottery games and any other matters necessary or desirable for the efficient and effective operation of the lottery and the convenience of the public.
B. The powers enumerated in this section are cumulative of and in addition to those powers enumerated elsewhere in the New Mexico Lottery Act, and no such powers limit or restrict any other powers of the authority.
(1) On application by or for a partner the court shall decree a dissolution whenever:
(a) A partner has been adjudged mentally disabled by a court of competent jurisdiction in any judicial proceeding or is shown to be of unsound mind,
(b) A partner becomes in any other way incapable of performing his part of the partnership contract,
(c) A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business,
(d) A partner willfully or persistently commits a breach of the partnership agreement, or otherwise so conducts himself in matters relating to the partnership business that it is not reasonably practicable to carry on the business in partnership with him,
(e) The business of the partnership can only be carried on at a loss,
(f) Other circumstances render a dissolution equitable.
(2) On the application of the purchaser of a partner's interest under KRS 362.280 or 362.285:
(a) After the termination of the specified term or particular undertaking,
(b) At any time if the partnership was a partnership at will when the interest was assigned or when the charging order was issued.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 6. Public Finances § 6-24-6. Powers of the authority - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-6-public-finances/nm-st-sect-6-24-6/
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