N.M. Stat. § 53-19-2 — NM Code / Chapter 53 / Article 19 / Section 53-19-2
§ 53-19-2. Definitions
Status: in_force

As used in the Limited Liability Company Act:

A. “ articles of organization ” means the original or restated articles filed pursuant to the Limited Liability Company Act and any amendments to those articles, including articles of merger or consolidation;

B. “ corporation ” means an organization incorporated under the laws of New Mexico or a foreign corporation;

C. “ commission ” means the public regulation commission [secretary of state] or its designee;

D. “ court ” means a court having jurisdiction in the case;

E. “ event of dissociation ” means an event that causes a person to cease to be a member of a limited liability company;

F. “ foreign corporation ” means a corporation that is organized under the laws of another state or a foreign country;

G. “ foreign limited liability company ” means a person that is:

(1) an unincorporated association;

(2) organized under the laws of another state or foreign country;

(3) organized under a statute pursuant to which an association may be formed that affords to each of its members limited liability with respect to the liabilities of the person; and

(4) is not required to be registered or organized under the laws of New Mexico other than the Limited Liability Company Act;

H. “ foreign limited partnership ” means a limited partnership formed under the laws of another state or a foreign country;

I. “ limited liability company ” or “ domestic limited liability company ” means an organization formed pursuant to the provisions of the Limited Liability Company Act;

J. “ limited liability company interest ” means a member's or assignee's right to receive distributions and a return of capital from the limited liability company. A member's or assignee's limited liability company interest does not include rights the member or assignee has on account of other matters, such as a right to receive accrued salary for services the member or assignee rendered to, repayment of a loan the member or assignee made to or indemnification by the limited liability company;

K. “ limited partnership ” means a limited partnership under the laws of New Mexico or a foreign limited partnership;

L. “ manager ” means, with respect to a limited liability company that has included a statement in its articles of organization that it is to be managed by a manager, the person designated as manager in accordance with the articles of organization or an operating agreement;

M. “ member ” means a person who has been admitted to membership in a limited liability company and who has not dissociated from that company;

N. “ membership interest ” or “ interest ” means a member's limited liability company interest and his rights to participate in management and control of the limited liability company;

O. “ operating agreement ” means a written agreement providing for the conduct of the business and affairs of a limited liability company and that agreement as amended in writing;

P. “ person ” means an individual, a general partnership, a limited partnership, a domestic or foreign limited liability company, a trust, an estate, an association, a corporation or any other legal entity; and

Q. “ state ” means a state, territory or possession of the United States, the District of Columbia or the commonwealth of Puerto Rico.