Statutes > New Mexico Statutes > Chapter 6 - Public Finances. > Article 26 - Behavioral Health Capital Funding Act, 6-26-1 through 6-26-8. > Section 6-26-7 - Eligible entity; change in status.

Section 6-26-7 - Eligible entity; change in status.

6-26-7. Eligible entity; change in status.

If an eligible entity that has received a loan for a capital project ceases to maintain its nonprofit status or ceases to deliver behavioral health services at the site of the capital project for twelve consecutive months, the state may pursue the remedies provided in the loan agreement or as provided by law.