reglab/housing_qa huggingface dataset:
NM Stat § 46-2A-1 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 2A - Fiduciary Investments|Section 46-2A-1 - Fiduciary investments; certain securities.

A bank or trust company that is acting as a fiduciary or agent may, in its discretion or at the direction of another person who is authorized to direct the investment of money held by the bank or trust company, invest in the securities of an open-end or closed-end management investment company or investment trust that is registered under the federal Investment Company Act of 1940, as amended. The bank or trust company, or any affiliate thereof, may provide services to the investment trust or investment company, including acting as an investment advisor, manager, sponsor, distributor, custodian, transfer agent or registrar, and may receive reasonable compensation for the services; provided that with respect to any funds invested, the bank or trust company or its affiliate shall disclose to the persons to whom statements of the account are rendered the rate, formula or other method by which the compensation paid is determined. History: Laws 1993, ch. 51, § 1. ANNOTATIONSCross references. — For Uniform Prudent Investor Act, see 45-7-601 NMSA 1978 et seq. For the federal Investment Company Act of 1940, see 15 U.S.C. § 80a-1 et seq.
NM Stat § 46-3-1 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-1 - Repealed.

History: 1953 Comp., § 33-5-18, enacted by Laws 1969, ch. 239, § 1; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-1 NMSA 1978, as enacted by Laws 1969, ch. 239, § 1, relating to definitions, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-2 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-2 - Repealed.

History: 1953 Comp., § 33-5-19, enacted by Laws 1969, ch. 239, § 2; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-2 NMSA 1978, as enacted by Laws 1969, ch. 239, § 2, relating to duty of trustee as to receipts and expenditures, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-3 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-3 - Repealed.

History: 1953 Comp., § 33-5-18, enacted by Laws 1969, ch. 239, § 3; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-3 NMSA 1978, as enacted by Laws 1969, ch. 239, § 3, relating to income, principal, charges, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-4 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-4 - Repealed.

History: 1953 Comp., § 33-5-21, enacted by Laws 1969, ch. 239, § 4; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-4 NMSA 1978, as enacted by Laws 1969, ch. 239, § 4, relating to when right to income arises; apportionment of income, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-5 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-5 - Repealed.

History: 1953 Comp., § 33-5-22, enacted by Laws 1969, ch. 239, § 5; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-5 NMSA 1978, as enacted by Laws 1969, ch. 239, § 1, relating to income earned during administration of a decedent's estate, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-6 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-6 - Repealed.

History: 1953 Comp., § 33-5-23, enacted by Laws 1969, ch. 239, § 6; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-6 NMSA 1978, as enacted by Laws 1969, ch. 239, § 6, relating to corporate distributions, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-7 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-7 - Repealed.

History: 1953 Comp., § 33-5-24, enacted by Laws 1969, ch. 239, § 7; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-7 NMSA 1978, as enacted by Laws 1969, ch. 239, § 7, relating to bond premium and discount, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-8 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-8 - Repealed.

History: 1953 Comp., § 33-5-18, enacted by Laws 1969, ch. 239, § 8; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-8 NMSA 1978, as enacted by Laws 1969, ch. 239, § 8, relating to business and farming operations, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-9 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-9 - Repealed.

History: 1953 Comp., § 33-5-26, enacted by Laws 1969, ch. 239, § 9; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-9 NMSA 1978, as enacted by Laws 1969, ch. 239, § 1, relating to disposition of natural resources, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-10 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-10 - Repealed.

History: 1953 Comp., § 33-5-27, enacted by Laws 1969, ch. 239, § 10; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-10 NMSA 1978, as enacted by Laws 1969, ch. 239, § 10, relating to other property subject to depletion, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-11 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-11 - Repealed.

History: 1953 Comp., § 33-5-28, enacted by Laws 1969, ch. 239, § 11; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-11 NMSA 1978, as enacted by Laws 1969, ch. 239, § 11, relating to underproductive property, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-12 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-12 - Repealed.

History: 1953 Comp., § 33-5-29, enacted by Laws 1969, ch. 239, § 12; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-12 NMSA 1978, as enacted by Laws 1969, ch. 239, § 12, relating to charges against income and principal, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-13 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-13 - Repealed.

History: 1953 Comp., § 33-5-30, enacted by Laws 1969, ch. 239, § 13; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-13 NMSA 1978, as enacted by Laws 1969, ch. 239, § 13, relating to application of act, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-14 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-14 - Repealed.

History: 1953 Comp., § 33-5-18, enacted by Laws 1969, ch. 239, § 14; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-14 NMSA 1978, as enacted by Laws 1969, ch. 239, § 14, relating to uniformity of interpretation, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-3-15 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 3 - Principal and Income (Repealed.)|Section 46-3-15 - Repealed.

History: 1953 Comp., § 33-5-18, enacted by Laws 1969, ch. 239, § 15; repealed by Laws 2001, ch. 113, § 604.ANNOTATIONSRepeals. — Laws 2001, ch. 113, § 604 repealed 46-3-15 NMSA 1978, as enacted by Laws 1969, ch. 239, § 15, relating to the short title of the act, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com. For present comparable provisions, see Chapter 46, Article 3A NMSA 1978.
NM Stat § 46-4-1 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-1 - Trusts for state or political subdivision authorized.

Express trusts of real or personal property may be created by will or by declaration of trust by any person naming this state or any of its political subdivisions, municipalities or agencies as the beneficiary thereof. History: 1953 Comp., § 33-6-1, enacted by Laws 1957, ch. 171, § 1.
NM Stat § 46-4-2 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-2 - Acceptance by beneficiary.

The governor in behalf of the state, or any agency thereof or the governing body of any political subdivision named as beneficiary of a trust must approve and accept by appropriate act, resolution, order or ordinance the benefits to be bestowed by such trust. Before any such trust shall affect or be binding upon the governor in behalf of the state, or any agency thereof or the governing body of any political subdivision, the trust agreement shall be approved by a majority of the members of the state board of finance. History: 1953 Comp., § 33-6-2, enacted by Laws 1957, ch. 171, § 2.
NM Stat § 46-4-3 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-3 - Instruments to be recorded.

The instruments creating such express trusts shall be executed in such a manner as to be admitted to probate, if a will, and to recordation in the office of the county clerk in which the trust property is located if a declaration of trust, but they shall be of no effect or force until approved and accepted and endorsed to that effect by the beneficiary and either admitted to probate or filed of record by the clerk of the county where the trust property is located. History: 1953 Comp., § 33-6-3, enacted by Laws 1957, ch. 171, § 3. ANNOTATIONSCross references. — For the requirements for recording instruments, see 14-8-4 NMSA 1978. For the execution of a will, see 45-2-502 NMSA 1978.
NM Stat § 46-4-4 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-4 - Trustees; appointment, succession, powers, duties, term and compensation; status of trustees; liability for acts.

The instrument or will creating such trusts may provide for the appointment, succession, powers, duties, term and compensation of the trustee or trustees; and in all such respects the terms of said instrument or will shall be controlling. If the said instrument or will makes no provision in regard to any of the foregoing, then the general laws of the state shall control as to such omission or omissions. The trustee, or trustees, under such an instrument or will shall be an agency of the state and the regularly constituted authority of the beneficiary for the performance of the functions for which the trust shall have been created. No trustee or beneficiary shall be charged personally with any liability whatsoever by reason of any act or omission committed or suffered in the performance of such trust or in the operation of the trust property; but any act, liability for any omission or obligation of a trustee or trustees, in the execution of such trust, or in the operation of the trust property, shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge such liability or obligation, and not otherwise. History: 1953 Comp., § 33-6-4, enacted by Laws 1957, ch. 171, § 4. ANNOTATIONSCross references. — For general laws of the state with respect to trusts and trustees, see Chapter 46, Articles 1, 2, and 3A NMSA 1978.
NM Stat § 46-4-5 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-5 - Trust purposes.

The trusts created for the benefit of the state, its municipalities or political subdivisions or other entities, to be acceptable as set forth in Section 2 [46-4-2 NMSA 1978] of this enactment, must have as the purpose of the trust the furtherance or the providing of funds for the furtherance of some proper and lawful function or duty of the beneficiary. History: 1953 Comp., § 33-6-5, enacted by Laws 1957, ch. 171, § 5.
NM Stat § 46-4-6 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-6 - Funds to carry out trust.

No funds of the beneficiary except those derived from the trust may be applied to carrying out or furtherance of the trust by the trustees, except by express action of the legislative authority of the beneficiary first had. History: 1953 Comp., § 33-6-6, enacted by Laws 1957, ch. 171, § 6.
NM Stat § 46-4-7 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-7 - Lease of property.

The officers or any other governmental agencies or authorities having the custody, management or control of any property, real or personal or both, of the beneficiary of such trust, or of such a proposed trust, which property shall be needful for the execution of the trust purposes, hereby are authorized and empowered to lease such property for said purposes, after the acceptance of the beneficial interest therein by the beneficiary as herein provided, or conditioned upon such acceptance. History: 1953 Comp., § 33-6-7, enacted by Laws 1957, ch. 171, § 7.
NM Stat § 46-4-8 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-8 - Contractual character; duration of trust.

Upon the acceptance of the beneficial interest by the beneficiary as hereinabove authorized and provided, the same shall be and constitute a binding contract between the state of New Mexico, the beneficiary and the grantor or grantors, or the executor of the estate of the testator, for the acceptance of the beneficial interest in the trust property by the designated beneficiary and the application of the proceeds of the trust property and its operation for the purposes, and in accordance with the stipulations specified by the trustor or trustors. Such trusts shall have duration for the term of duration of the beneficiary, or such shorter length of time as shall be specified in the instrument or will creating said trust. History: 1953 Comp., § 33-6-8, enacted by Laws 1957, ch. 171, § 8.
NM Stat § 46-4-9 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 4 - State Beneficiary Trusts|Section 46-4-9 - Termination of trust.

Any such trust may be terminated by agreement of the trustees and the authority of the beneficiary having power to accept the trust under the provisions of Section 2 [46-4-2 NMSA 1978] of this enactment; provided that there may be no termination while there exists any outstanding obligation chargeable against the trust property, which by reason of such termination, might become an obligation of the trustees or of the beneficiary. History: 1953 Comp., § 33-6-9, enacted by Laws 1957, ch. 171, § 9.
NM Stat § 46-5-1 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 5 - Testamentary Additions to Trusts (Repealed.)|Section 46-5-1 - Repealed.

History: 1953 Comp., § 33-7-1, enacted by Laws 1965, ch. 26, § 1; repealed by Laws 1993, ch. 174, § 84. ANNOTATIONSRepeals. — Laws 1993, ch. 174, § 84 repealed 46-5-1 NMSA 1978, as enacted by Laws 1965, ch. 26, § 1, relating to the short title of the act, effective July 1, 1993. For provisions of former sections, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 46-5-2 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 5 - Testamentary Additions to Trusts (Repealed.)|Section 46-5-2 - Repealed.

History: 1953 Comp., § 33-7-2, enacted by Laws 1965, ch. 26, § 2; repealed by Laws 1993, ch. 174, § 84. ANNOTATIONSRepeals. — Laws 1993, ch. 174, § 84 repealed 46-5-2 NMSA 1978, as enacted by Laws 1965, ch. 26, § 2, relating to testamentary additions to trusts, effective July 1, 1993. For provisions of former sections, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 46-5-3 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 5 - Testamentary Additions to Trusts (Repealed.)|Section 46-5-3 - Repealed.

History: 1953 Comp., § 33-7-3, enacted by Laws 1965, ch. 26, § 4; repealed by Laws 1993, ch. 174, § 84. ANNOTATIONSRepeals. — Laws 1993, ch. 174, § 84 repealed 46-5-3 NMSA 1978, as enacted by Laws 1965, ch. 26, § 4, relating to the uniformity of interpretation, effective July 1, 1993. For provisions of former sections, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 46-6-2 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 6 - Surety Bonds|Section 46-6-2 - Costs of bond; allowance to fiduciaries; costs in court action.

Any fiduciary not subject to the provisions of the Probate Code [Chapter 45 NMSA 1978], required by law or the order of any court or judge of this state, to give a bond or other obligation as such, may include as a part of the lawful expense of executing his trust such reasonable sum paid a company authorized under the laws of this state so to do, for becoming his surety on such bond as may be allowed by the court in which, or a judge before whom, he is required to account, not exceeding one percent per annum on [of] the amount of such bond; and in all actions and proceedings a party entitled to recover costs therein shall be allowed and may tax and recover such sum paid such a company for executing any bond, recognizance, undertaking, stipulation or other obligation therein not exceeding, however, one percent on the amount of such bond, recognizance, undertaking, stipulation or other obligation, during each year the same has been in force. History: Laws 1899, ch. 41, § 2; Code 1915, § 507; C.S. 1929, § 17-103; 1941 Comp., § 28-103; 1953 Comp., § 28-1-3; Laws 1975, ch. 257, § 8-117. ANNOTATIONSThis section makes a special provision for actions and proceedings and states specifically that it was not limited to the recovery of premiums paid by receivers and others acting in a fiduciary relation. Chrysler Credit Corp. v. Beagles Chrysler-Plymouth, 83 N.M. 272, 491 P.2d 160 (1971). This section is general enough to include replevin bonds. Chrysler Credit Corp. v. Beagles Chrysler-Plymouth, 83 N.M. 272, 491 P.2d 160 (1971). Premium on appeal bond is proper item to be taxed as costs. Chrysler Credit Corp. v. Beagles Chrysler-Plymouth, 83 N.M. 272, 491 P.2d 160 (1971).
NM Stat § 46-6-3 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 6 - Surety Bonds|Section 46-6-3 - Release of surety; notice.

When any surety upon the official bond of any fiduciary in this state not subject to the provisions of the Probate Code [Chapter 45 NMSA 1978], shall desire to be released from such obligation, such surety may file his application for such release in the court having jurisdiction of such fiduciary and thereupon the clerk of such court shall issue, under the seal thereof, a notice to such fiduciary, requiring him or her to furnish a new bond, with sureties to be approved by the court, within twenty days from the date of the service of said notice. Such notice may be served in the manner provided by law for the service of a summons in civil actions. If such fiduciary shall fail to furnish such bond within the time hereinbefore prescribed he or she may be summarily removed from office, and a new trustee, committee, guardian, assignee, receiver, executor, administrator or other fiduciary forthwith appointed. From and after the time when such new bond is furnished, or such new fiduciary appointed, the surety making such application shall be released from all liability upon the said bond, except for such default or other misconduct on the part of such fiduciary as occurred prior thereto. It is further provided, that in case of the release or the withdrawal of any surety as provided in this section, and in case the principal shall account in due form of law for all his acts and doings, and all trust funds or estate, then the unearned portion of any premium paid to such surety shall be refunded and repaid by the said surety or such sureties as aforesaid. History: Laws 1899, ch. 41, § 3; Code 1915, § 508; C.S. 1929, § 17-104; 1941 Comp., § 28-104; 1953 Comp., § 28-1-4; Laws 1975, ch. 257, § 8-118. ANNOTATIONSCross references. — For release or reduction of bond in wills and administration, see 45-3-604 NMSA 1978. For the termination of appointment of personal representatives in wills and administration, see 45-3-608 to 45-3-612, 45-3-618 NMSA 1978. For termination of guardianship generally, see 45-5-212 NMSA 1978. For the dismissal of assignees for the benefit of creditors, see 56-9-36 to 56-9-41 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 74 Am. Jur. 2d Suretyship §§ 82 to 85.
NM Stat § 46-6-4 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 6 - Surety Bonds|Section 46-6-4 - [Surety companies; failure to pay judgment; forfeiture of right to do business.]

That if any company authorized to do business in this state shall neglect or refuse to pay any final judgment or decree rendered against it upon any such recognizance, stipulation, bond or undertaking made or guaranteed by it under the provisions of Sections 46-6-1, 46-6-2 or 46-6-3 NMSA 1978, from which no appeal, writ of error or supersedeas has been taken, for thirty days after the rendition of such judgment or decree, it shall forfeit all right to do business. History: Laws 1899, ch. 41, § 4; Code 1915, § 509; C.S. 1929, § 17-105; 1941 Comp., § 28-105; 1953 Comp., § 28-1-5. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.