N.M. Admin. Code § 8.243.500.10

Current through Register Vol. 35, No. 20, October 22, 2024

Section 8.243.500.10 - RESOURCE STANDARDS

A "resource" is defined as cash or liquid assets and real or personal property which is owned and can be used either directly, or by sale or conversion, for the applicant's/recipient's support and maintenance. Resources may be liquid or non-liquid and may be excluded from the eligibility determination process under certain conditions.

A. A liquid resource is an asset, which can readily be converted to cash.

B. A non-liquid resource is an asset or property, which cannot readily be converted to cash.

N.M. Admin. Code § 8.243.500.10

8.243.500.10 NMAC - N, 1-1-01