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 of 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 members can only be removed for incompetence, neglect, breaches of fiduciary duties, or malfeasance, and that such removal can be initiated by the Attorney General or a majority of the board members through a district court action.

Additionally, the amendment seeks to vest district courts with original jurisdiction over actions to remove board members, ensuring a legal framework for accountability. The resolution mandates that the proposed amendment be submitted to the public for approval or rejection during the next general election or any special election called for that purpose. This initiative aims to enhance governance and oversight of state educational institutions in New Mexico.