New Mexico Statutes 24-24-3. Definitions
Current as of: 2023 | Check for updates
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As used in the Child Care Facility Loan Act:
Terms Used In New Mexico Statutes 24-24-3
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A. “department” means the early childhood education and care department;
B. “facility” means a child care facility operated by a provider, including both family home-based and center-based programs, licensed by the department to provide care to infants, toddlers and children;
C. “fund” means the child care facility revolving loan fund;
D. “operating capital” means funds needed to meet short-term obligations, such as accounts payable, wages, debt servicing, lease and income tax payments; and
E. “provider” means a person licensed by the department to provide child care to infants, toddlers and children pursuant to Section 9-2A-8 N.M. Stat. Ann..