If a member is obligated to restore any sum of money to the fund and fails or refuses to do so for a period of three months after written demand is made by the director, the member shall forfeit membership and receive no further benefits pursuant to the Educational Retirement Act. The director shall determine whether the former member's contributions to the fund exceed the total amount of disability or retirement benefits the member has received and shall withdraw from any such balance of contributions the amount of money the member is obligated to restore to the fund. Any balance of the contribution remaining in the fund shall be paid to the former member or the former member's beneficiary. In the event the money the former member is obligated to restore to the fund is not restored to the fund, the former member shall be subject to civil action by the board for its recovery.
History: 1953 Comp., § 77-9-40, enacted by Laws 1967, ch. 16, § 163; 2017, ch. 21, § 18.
Cross references. — For suspension of benefits upon failure to file certificate of reexamination, see 22-11-36 NMSA 1978.
The 2017 amendment, effective June 16, 2017, removed the provision related to the suspension of disability benefits for the failure of a member to make a required report; in the catchline, deleted "Reports"; deleted Subsection A, which related to the suspension of disability benefits for the failure of a member to make a required report, and deleted the subsection designation "B."; in the undesignated paragraph, after "director", deleted "he" and added "the member", after "forfeit", deleted "his", after "disability or retirement benefits", deleted "he" and added "the member", and after "former member or", deleted "his" and added "the former member's".
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