New Mexico Statutes 57-22-4. Application of act
A. The Charitable Solicitations Act shall not apply to a religious organization, even if it is a charitable organization.
Terms Used In New Mexico Statutes 57-22-4
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
B. Exempt from the registration and reporting requirements of the Charitable Solicitations Act are:
(1) educational institutions and organizations defined in Section 6-5A-1 N.M. Stat. Ann.; and
(2) persons soliciting for an individual or group that has suffered a medical or other catastrophe and:
(a) the individual or group is identified by name at the time of the solicitation; (b) the purpose for the solicited contribution is clearly stated; and
(c) the gross contributions collected, without any deductions for or by the solicitor or any other person, are deposited directly to an account in the name of the individual or group in a local federally insured financial institution established for that sole purpose and solely used for the direct benefit of the named individual or group as beneficiary.
C. The Charitable Solicitations Act shall apply to charitable organizations and professional fundraisers.