Las Cruces – A former state senator has been named by the Legislature to a state board that oversees New Mexico's permanent funds.
Former Sen. Leonard Lee Rawson, a Las Cruces Republican, was appointed Wednesday by a legislative leadership panel to serve on the State Investment Council.
Also selected were Clayton banker Craig Reeves, Lordsburg banker Michael Martin and Peter Frank, a retired corporate executive from Santa Fe who until recently was a member of the Investment Council.
A new state law expanded the council's membership, but lessened the influence of the governor by reducing the number of his appointees and administration officials serving on the group.
The council is responsible for management of permanent funds valued at more than $13 billion.
Copyright 2010 The Associated Press.