Section 61-8-7 - Disposition of funds; podiatry fund created; method of payments; bonds. (Repealed effective July 1, 2016.)
61-8-7. Disposition of funds; podiatry fund created; method of payments; bonds. (Repealed effective July 1, 2016.)
A. There is created the "podiatry fund".
B. All funds received by the board and money collected under the Podiatry Act shall be deposited with the state treasurer, who shall place the same to the credit of the podiatry fund.
C. All payments out of the podiatry fund shall be made on vouchers issued and signed by the secretary-treasurer of the board upon warrants drawn by the secretary of finance and administration in accordance with the budget approved by the department of finance and administration.
D. All amounts in the podiatry fund shall be subject to the order of the board and shall be used only for the purpose of meeting the necessary expenses incurred in:
(1) the performance of the provisions of the Podiatry Act and the powers and duties imposed by that act; and
(2) the promotion of education and standards of practice in the field of podiatry in New Mexico within the budgetary limits.
E. All money that has accumulated to the credit of the board under any previous law shall be transferred to the podiatry fund and shall continue to be available for use by the board in accordance with the provisions of the Podiatry Act. Balances at the end of the fiscal year shall not revert, but shall remain in the podiatry fund for use in accordance with the provisions of the Podiatry Act.