The 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. Additionally, the amendment grants district courts original jurisdiction over actions to remove board members, allowing the Attorney General or a majority of the board to initiate removal proceedings for incompetence, neglect, breaches of fiduciary duties, or malfeasance.

Furthermore, the resolution specifies the composition and appointment process for the boards of regents, including the requirement for a student member on each board, with terms of service defined for both student and non-student members. The proposed amendment will be submitted to voters for approval or rejection at the next general election or any special election called for that purpose.