reglab/housing_qa huggingface dataset:
NM Stat § 53-4-30 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-30 - Expulsion.

A member may be expelled by the vote of a majority of the members voting at a regular or special meeting. The member against whom the charges are to be preferred shall be informed thereof in writing at least 10 days in advance of the meeting, and shall have an opportunity to be heard in person or by counsel at said meeting. On decision of the association to expel a member, the board of directors shall purchase the member's holdings at par value, if and when there are sufficient surplus funds. History: Laws 1939, ch. 164, § 30; 1941 Comp., § 54-1430; 1953 Comp., § 51-15-30. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations §§ 15, 26; 18A Am. Jur. 2d Corporations §§ 935 to 938, 940 to 942, 944 to 947.
NM Stat § 53-4-32 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-32 - Bonding.

Every individual acting as officer or employee of an association and handling funds or securities amounting to one thousand dollars ($1,000.00) or more, in any one year, shall be covered by an adequate bond as determined by the board of directors, and at the expense of the association; and the by-laws [bylaws] may also provide for the bonding of other employees or officers. History: Laws 1939, ch. 164, § 32; 1941 Comp., § 54-1432; 1953 Comp., § 51-15-32. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63A Am. Jur. 2d Public Officers and Employees §§ 491, 499, 500.
NM Stat § 53-4-33 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-33 - Books; auditing.

To record its business operation, every association shall keep a set of books, which shall be audited at the end of each fiscal year by an experienced bookkeeper or accountant who shall not be an officer or director. Where the annual business amounts to less than ten thousand dollars [($10,000)], the audit may be performed by an auditing committee of three, who shall not be directors, officers, or employees. A written report of the audit, including a statement of the amount of business transacted with members, and the amount transacted with nonmembers, the balance sheet, and the income and expenses, shall be submitted to the annual meeting of the association. History: Laws 1939, ch. 164, § 33; 1941 Comp., § 54-1433; 1953 Comp., § 51-15-33. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations §§ 14, 21; 18A Am. Jur. 2d Corporations §§ 348 to 354, 356 to 363, 365 to 368, 381, 383, 384. 18 C.J.S. Corporations §§ 110, 332 to 338.
NM Stat § 53-4-35 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-35 - Notice of delinquent reports; forfeitures; reinstatement.

If an association fails to make a report within the required period of sixty days, the public regulation commission [secretary of state] shall, within sixty days from the expiration of the period, send the association a registered letter, directed to its principal office, stating the delinquency and its consequences. If the association fails to file the report within sixty days from the mailing of such notice, the commission [secretary of state] shall notify it by registered letter that its corporate rights stand forfeited, shall remove its name from its list of live corporations and notify the attorney general, who shall cause its affairs to be wound up. If, within sixty days from such forfeiture, the association files the report and pays a penalty of ten dollars ($10.00) and all actual expenses of any suit begun to wind it up, the commission [secretary of state] shall set aside the forfeiture, the suit shall be dismissed and the association shall be reinstated to its former rights and legal status. History: Laws 1939, ch. 164, § 35; 1941 Comp., § 54-1435; 1953 Comp., § 51-15-35; 2001, ch. 200, § 19. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. The 2001 amendment, effective July 1, 2001, substituted "public regulation commission" for "state corporation commission of New Mexico"; and substituted "commission" for "state corporation commission" and "corporation commission". Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 22; 19 Am. Jur. 2d Corporations §§ 2734, 2740, 2741, 2746, 2788 to 2805, 2807 to 2810. 19 C.J.S. Corporations § 542.
NM Stat § 53-4-36 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-36 - Voluntary dissolution.

An association may, at any regular or special meeting legally called, be directed to dissolve by a vote of two-thirds of the entire membership. By a vote of a majority of the members voting three of their number shall be designated as trustees, who shall, on behalf of the association and within a time fixed in their designation or within any extension thereof, liquidate its assets, pay its debts and expenses; return to the members the par value of their shares or of their membership certificates; return to subscribers the amount paid on their subscriptions, to patrons the amount of savings returns credited to their accounts toward purchase of shares or membership certificates; and distribute any surplus in either or both of the following ways, as the articles may provide: A. among those patrons who have been members or subscribers at any time during the past six years, on the basis of their patronage during that period; B. as a gift to any consumers' cooperative association or other nonprofit enterprise which may be designated in the articles. History: Laws 1939, ch. 164, § 36; 1941 Comp., § 54-1436; 1953 Comp., § 51-15-36. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 22; 19 Am. Jur. 2d Corporations §§ 2740, 2741, 2746, 2748, 2750 to 2756, 2758 to 2762, 2764 to 2766, 2770 to 2778, 2780, 2781, 2785, 2834, 2880 to 2883. 19 C.J.S. Corporations §§ 811 to 882.
NM Stat § 53-4-37 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-37 - Use of name "cooperative"; penalty.

A. Only the following entities are entitled to use the term "cooperative" or an abbreviation or derivation of that term as part of their business names or to represent themselves as conducting business on a cooperative basis: (1) associations organized pursuant to the Cooperative Association Act; (2) groups organized on a cooperative basis pursuant to any other law of this state; and (3) foreign corporations authorized to do business in this state on a cooperative basis pursuant to the Cooperative Association Act or any other law of this state. B. Any person, firm or corporation violating the provisions of Subsection A of this section shall be guilty of a misdemeanor, punishable by a fine of not more than two hundred dollars ($200), and the attorney general or any aggrieved individual or association or group organized on a cooperative basis may sue to enjoin an alleged violation of this section. C. Should the courts or the attorney general or the public regulation commission [secretary of state] decide that any person, firm or corporation, using the name "cooperative" prior to these provisions and not organized on a cooperative basis, is entitled to continue in such use, any such business shall always place immediately after its name, the words "does not comply with the cooperative laws of New Mexico" in the same kind of type and in letters not less than two-thirds as large as those used in the term "cooperative". History: Laws 1939, ch. 164, § 37; 1941 Comp., § 54-1437; 1953 Comp., § 51-15-37; 2001, ch. 200, § 20. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. Cross references. — For optional use of "cooperative" in title of cooperative marketing association of agricultural producers, see 76-12-7 NMSA 1978. The 2001 amendment, effective July 1, 2001, added the subsection designations; substituted "pursuant to the Cooperative Association Act" for "hereunder" in Paragraph A(1) and for "under this" in Paragraph A(3); and substituted "public regulation commission" for "state corporation commission" in Subsection C. Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations §§ 5 to 9. 18 C.J.S. Corporations §§ 98 to 105.
NM Stat § 53-4-38 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-38 - Promotion expenses; limitations; penalty.

An association shall not, directly or indirectly, use any of its funds, nor issue shares nor incur any indebtedness, for the payment of any promotion expenses or compensation for the organization of the association in excess of 5% of the amount paid in for the shares or membership certificates involved in the promotion transaction. Any association giving, or any person, firm, corporation or association receiving, such promotion commission [secretary of state] in violation of this section shall be guilty of a misdemeanor, and upon conviction thereof, shall be fined not less than one hundred dollars ($100.00) nor more than five hundred dollars ($500.00). History: Laws 1939, ch. 164, § 38; 1941 Comp., § 54-1438; 1953 Comp., § 51-15-38. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations §§ 98, 101 to 105. 18 C.J.S. Corporations §§ 67 to 97.
NM Stat § 53-4-39 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-39 - Spreading false reports; penalty.

Any person, firm, corporation or association which maliciously and knowingly spreads false reports about the management or finances of any association shall be guilty of a misdemeanor and be subject to a fine of not less than one hundred dollars ($100.00) and not more than five hundred dollars ($500.00) for each such offense. History: Laws 1939, ch. 164, § 39; 1941 Comp., § 54-1439; 1953 Comp., § 51-15-39. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18B Am. Jur. 2d Corporations §§ 1885, 1887, 1888, 2130. 19 C.J.S. Corporations § 543.
NM Stat § 53-4-40 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-40 - Existing cooperative corporations.

A group incorporated under another law of this state and operating on a cooperative basis may elect by a vote of two-thirds of the members voting to secure the benefits of and be bound by the provisions of the Cooperative Association Act and shall amend its articles and bylaws not in conformity with those provisions. A certified copy of the amended articles shall be filed with the public regulation commission [secretary of state] and a fee of twenty-five dollars ($25.00) shall be paid. History: Laws 1939, ch. 164, § 40; 1941 Comp., § 54-1440; 1953 Comp., § 51-15-40; 2001, ch. 200, § 21. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. The 2001 amendment, effective July 1, 2001, substituted "the provisions of the Cooperative Association Act" for "these provisions" and substituted "public regulation commission" for "corporation commission".
NM Stat § 53-4-41 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-41 - Foreign corporations.

A foreign corporation operating on a cooperative basis and complying with the applicable laws of the state in which it is organized is entitled to receive from the public regulation commission [secretary of state] a certificate authorizing it to do business in this state as a foreign cooperative corporation. History: Laws 1939, ch. 164, § 41; 1941 Comp., § 54-1441; 1953 Comp., § 51-15-41; 2001, ch. 200, § 22. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. The 2001 amendment, effective July 1, 2001, substituted "public regulation commission" for "corporation commission". Am. Jur. 2d, A.L.R. and C.J.S. references. — 18A Am. Jur. 2d Corporations § 513. 19 C.J.S. Corporations § 901 et seq.
NM Stat § 53-4-42 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-42 - Legality declared; not in restraint of trade.

No association, or method or act thereof which complies with these provisions shall be deemed a conspiracy or combination in restraint of trade or an illegal monopoly, or an attempt to lessen competition or fix prices arbitrarily, or to accomplish any improper or illegal purposes. History: Laws 1939, ch. 164, § 42; 1941 Comp., § 54-1442; 1953 Comp., § 51-15-42. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations §§ 30, 34. Construction of § 1 of the Capper-Volstead Act (7 U.S.C. § 291) authorizing persons engaged in production of agricultural products to act together in association, 20 A.L.R. Fed. 924.
NM Stat § 53-4-43 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-43 - Laws not applicable.

No law of this state conflicting or inconsistent herewith shall, to the extent of the conflict or inconsistency be construed as applicable to associations formed hereunder. History: Laws 1939, ch. 164, § 43; 1941 Comp., § 54-1443; 1953 Comp., § 51-15-43.
NM Stat § 53-4-44 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-44 - Subsequent laws.

No law of this state subsequent to these provisions shall be construed as amending or repealing these provisions or any part thereof unless such amendment or repeal is expressly stated therein. History: Laws 1939, ch. 164, § 44; 1941 Comp., § 54-1444; 1953 Comp., § 51-15-44.
NM Stat § 53-4-45 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 4 - Cooperative Associations|Section 53-4-45 - Taxation.

Associations formed under Chapter 53, Article 4 NMSA 1978 and foreign corporations admitted under Section 53-4-41 NMSA 1978 to do business in this state shall pay an annual license fee of twenty dollars ($20.00). History: Laws 1939, ch. 164, § 45; 1941 Comp., § 54-1445; 1953 Comp., § 51-15-45; Laws 1993, ch. 311, § 7. ANNOTATIONSThe 1993 amendment, effective July 1, 1993, substituted "under Chapter 53, Article 4 NMSA 1978" for "hereunder", "53-4-41 NMSA 1978" for "41", and "twenty dollars ($20.00)" for "five dollars ($5.00)". Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 Am. Jur. 2d Corporations §§ 2802, 2824, 2839.
NM Stat § 53-5-1 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-1 - Short title.

Chapter 53, Article 5 NMSA 1978 may be cited as the "Corporate Reports Act". History: 1953 Comp., § 51-21-1, enacted by Laws 1959, ch. 181, § 1; 1998, ch. 108, § 23. ANNOTATIONSThe 1998 amendment, effective January 1, 1999, substituted "Chapter 53, Article 5 NMSA 1978" for "This act" at the beginning of the section. Law reviews. — For note, "The Entry and Regulation of Foreign Corporations Under New Mexico Law and Under the Model Business Corporation Act," see 6 Nat. Res. J. 617 (1966). For comment, "Coal Taxation in the Western States: The Need for a Regional Tax Policy," see 16 Nat. Res. J. 415 (1976). For article, "1983 Amendments to the New Mexico Business Corporation Act and Related Statutes," see 14 N.M.L. Rev. 371 (1984).
NM Stat § 53-5-3 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-3 - Public regulation commission [secretary of state] to supply definitions.

The public regulation commission [secretary of state] shall prepare and make available with appropriate corporate report forms a list of definitions of corporate and financial terms used in the annual corporate reports. History: 1953 Comp., § 51-21-3, enacted by Laws 1959, ch. 181, § 3; 2001, ch. 200, § 28. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. The 2001 amendment, effective July 1, 2001, substituted "Public regulation commission" for 'Corporation commission" throughout the section. Law reviews. — For note, "The Entry and Regulation of Foreign Corporations Under New Mexico Law and Under the Model Business Corporation Act," see 6 Nat. Res. J. 617 (1966).
NM Stat § 53-5-4 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-4 - Exempt corporations.

The following corporations shall be exempt from filing a report pursuant to the Corporate Reports Act: A. state banks or insurance companies incorporated under the laws of New Mexico; B. insurance companies which are incorporated under the laws of the United States, other states or foreign countries, and which are licensed to transact business in the state of New Mexico; C. national banks; and D. nonprofit corporations. History: 1953 Comp., § 51-21-4, enacted by Laws 1959, ch. 181, § 4; 1969, ch. 154, § 1; 1977, ch. 103, § 4. ANNOTATIONSA capital stock building and loan association organized under the general corporation laws of this state cannot be a bank within the meaning of this section and is not exempt from the reporting requirements of 53-5-2 NMSA 1978. 1965 Op. Att'y Gen. No. 65-62. A mutual building and loan association is not a bank within the meaning of this section and is not exempt from the reporting requirements of 53-5-2 NMSA 1978. 1965 Op. Att'y Gen. No. 65-62. A financial corporation for the purposes of this act is a corporation treated as a financial corporation for the purposes of the Gross Receipts and Compensating Tax Act (Sections 7-9-1 to 7-9-90 NMSA 1978) and the former Banking and Financial Corporations Tax Act (Sections 7-6-1 to 7-6-9 NMSA 1978) (see Corporate Income Tax Act, 7-2A-1 NMSA 1978 et seq.). If there is any doubt as to the status of a corporation, the corporation commission (now secretary of state) may require the corporation to submit proof that it is being treated as a financial corporation by the bureau of revenue (now taxation and revenue department). 1970 Op. Att'y Gen. No. 70-30 (rendered prior to 1977 amendment). Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations § 14.
NM Stat § 53-5-5 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-5 - Corporate reports; affirmation; penalty.

A. All reports required to be filed with the commission [secretary of state] pursuant to the Corporate Reports Act shall contain the following affirmation: "Under penalties of perjury, I declare and affirm that I have examined this report, including the accompanying schedules and statements, and that all statements contained therein are true and correct." B. Any person who makes and subscribes any report required under the Corporate Reports Act that contains a false statement, which statement is known to be false by such person, is guilty of perjury and upon conviction shall be punished as provided for in the perjury statutes of this state. History: 1978 Comp., § 53-5-5, enacted by Laws 1979, ch. 181, § 2. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978. Cross references. — For penalty for failure to file corporate reports, see 53-5-7 NMSA 1978.