N.M. Admin. Code § 8.245.500.10
The value of an applicant/recipient's countable resources must not exceed the amount set forth in 8.200.510.14 NMAC, resource amounts for supplemental security income (SSI) related medicare savings programs (QMB and SLIMB/QI1). The resource limit for an applicant couple cannot exceed the amount for a couple set forth in 8.200.510.14 NMAC. An applicant/recipient with an ineligible spouse is eligible if the couple's countable resources do not exceed the amount set forth in 8.200.510.14 NMAC, when resources are deemed. A resource determination is always made as of the first moment of the first day of the month. An applicant/ recipient is ineligible for any month in which the countable resources exceed the current resource standard as of the first moment of the first day of the month. Changes in the amount of resources during a month do not affect eligibility for that month. See 8.215.500.13 NMAC, countable resources, and 8.215.500.14 NMAC, resource exclusions, for information on exclusions, disregards, and countable resources.
N.M. Admin. Code § 8.245.500.10