{"data":{"id":"us-nm/58-29-3","jurisdiction":"us-nm","citation":"58-29-3","heading":"Definitions.","body":"As used in the Small Business Investment Act:\nA. \"board\" means the corporation's board;\nB. \"cooperative agreement\" means an agreement entered into by the corporation with a party that:\n(1) has demonstrated the capability to provide business assistance to new and expanding businesses; and\n(2) is primarily engaged or proposes to primarily engage in the business of providing business services and debt or equity capital to new and expanding businesses;\nC. \"corporation\" means the small business investment corporation;\nD. \"debt investment\" means direct or indirect loans or other debt obligations, the proceeds of which shall be used to:\n(1) support the acquisition or development of land, buildings or infrastructure;\n(2) create job opportunities; or\n(3) otherwise enhance the economic development objectives of the state;\nE. \"equity investment\" means direct or indirect ownership interests in New Mexico businesses, the proceeds of which investment shall be used to:\n(1) support the acquisition or development of land, buildings or infrastructure;\n(2) create job opportunities; or\n(3) otherwise enhance the economic development objectives of the state;\nF. \"fund\" means the small business investment corporation fund;\nG. \"New Mexico business\" means a business with its principal office and a majority of its full-time employees located in New Mexico, including a sole proprietorship, partnership, limited partnership, limited liability company or corporation; and\nH. \"president\" means the president of the corporation.","path":["Chapter 58 - Financial Institutions and Regulations","ARTICLE 29 Small Business Investment"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18561/index.do","current_through":"2025-01-07","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"016733ba627af8f3c3063cfd7ac7a495fea14114f396b4c00d2458847cca2ed8","source_id":"us-nm","stale":false,"prev":"us-nm/58-29-2","next":"us-nm/58-29-4"},"notice":"GroundRules: Original legal text. Not legal advice."}