This joint resolution proposes an amendment to Article 12, Section 13 of the New Mexico Constitution to establish clear fiduciary duties for members of boards of regents at state educational institutions. It outlines that each board member holds a position of trust and is obligated to act with undivided loyalty, due care, and good faith while adhering to state laws and institutional policies. The resolution also stipulates that the district courts will have original jurisdiction over actions to remove board members, which can be initiated by the Attorney General or a majority of the board members, in cases of incompetence, neglect, breaches of fiduciary duties, or malfeasance.

Additionally, the amendment specifies the composition and appointment process for the boards of regents, including the requirement for a student member on each board, and sets the terms for both student and non-student members. The resolution emphasizes the importance of accountability and governance within educational institutions by ensuring that board members are held to high standards of conduct and can be removed for specific reasons, thereby enhancing the integrity of the management of these institutions. The proposed amendment will be submitted to voters for approval in the next general election or a special election prior to that date.