reglab/housing_qa huggingface dataset:
NM Stat § 53-5-6 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-6 - Application for period of extension.

A. A corporation may, upon application to the public regulation commission [secretary of state] by the date upon which a report is required to be filed under the Corporate Reports Act, petition the commission [secretary of state] for an extension of time in which to file the required report. B. For good cause shown, the public regulation commission [secretary of state] may extend for no more than a total of twelve months the date on which any return required by the provisions of the Corporate Reports Act must be filed or the date on which the payment of any fee is required for a specific corporation subject to the Corporate Reports Act. No extension shall prevent the accrual of interest as otherwise provided by law. C. The public regulation commission [secretary of state] shall, when an extension of time has been granted a corporation under the United States Internal Revenue Code of 1986 for the time in which to file a return, grant the corporation the same extension of time to file the required return and to pay the required fees and tax if a copy of the approved federal extension of time is attached to the corporation's annual report. No extension of time granted shall prevent the accrual of interest as otherwise provided by law. D. Nothing contained in this section shall prevent the collection of any tax, penalty or interest due upon the failure of any corporation to submit the required report. History: 1953 Comp., § 51-21-6, enacted by Laws 1959, ch. 181, § 6; 1961, ch. 197, § 7; 1977, ch. 103, § 6; 1979, ch. 181, § 3; 1989, ch. 102, § 1; 2001, ch. 200, § 29. 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 the United States Internal Revenue Code, see 26 U.S.C. § 1 et seq. The 2001 amendment, effective July 1, 2001, substituted "public regulation commission" for "state corporation commission" throughout the section. The 1989 amendment, effective January 1, 1990, substituted "by the date" for "not less than fifteen days prior to the date" in Subsection A and "state corporation commission" for "commission" throughout the section.
NM Stat § 53-5-7.1 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-7.1 - Canceled corporations stricken from public regulation commission [secretary of state] files.

A domestic corporation whose certificate of incorporation has been canceled by the public regulation commission [secretary of state] pursuant to Section 53-5-7 NMSA 1978 shall be stricken from the files of the commission [secretary of state] without further proceedings. A foreign corporation whose certificate of authority to do business in the state has been canceled by the commission [secretary of state] pursuant to Section 53-5-7 NMSA 1978 shall be stricken from the files of the commission [secretary of state] without further proceedings. History: Laws 2001, ch. 200, § 26. 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. Effective dates. — Laws 2001, ch. 200, § 101 made Laws 2001, ch. 200, § 26 effective July 1, 2001. Recompilations. — Laws 2001, ch. 200, § 26 was erroneously compiled as 53-4-6.4 NMSA 1978 and was recompiled as 53-5-7.1 NMSA 1978.
NM Stat § 53-5-10 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 5 - Corporate Reports|Section 53-5-10 - Repealed.

ANNOTATIONSRepeals. — Laws 1993, ch. 318, § 6 repealed former 53-5-10 NMSA 1978, as enacted by Laws 1991, ch. 170, § 4, requiring any person elected or appointed to a board of directors to file an affidavit with the corporation stating that he consents to be a member of the board of directors, effective June 18, 1993. For provisions of former section, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 53-6-2 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-2 - Short title.

This act [53-6-1 to 53-6-13 NMSA 1978] may be cited as the "Professional Corporation Act". History: 1953 Comp., § 51-22-2, enacted by Laws 1963, ch. 16, § 2.
NM Stat § 53-6-3 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-3 - Definitions.

As used in this act [53-6-1 to 53-6-13 NMSA 1978]: A. "professional service" means any type of personal service to the public which requires, as a condition precedent to the rendering of such service, the obtaining of a license or other legal authorization and which, prior to the passage of the Professional Corporation Act and by reason of law, could not be performed by a corporation. The term includes, but is not necessarily limited to, the personal services rendered by certified public accountants, registered public accountants, chiropractors, optometrists, dentists, osteopaths, podiatrists, architects, veterinarians, doctors of medicine, doctors of dentistry, physicians and surgeons, attorneys-at-law and life insurance agents; and B. "professional corporation" means a corporation which is organized under the Professional Corporation Act for the sole and specific purpose of rendering professional service and which has as its shareholders only individuals who themselves are licensed or otherwise legally authorized within this state to render the same professional service as the corporation. History: 1953 Comp., § 51-22-3, enacted by Laws 1963, ch. 16, § 3. ANNOTATIONSLaw reviews. — For article, "The New Mexico Professional Corporation," see 9 Nat. Res. J. 591 (1969). Am. Jur. 2d, A.L.R. and C.J.S. references. — 18A Am. Jur. 2d Corporations §§ 192 to 195; 18B Am. Jur. 2d Corporations §§ 2043, 2120.
NM Stat § 53-6-4 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-4 - Incorporation.

One or more individuals, each of whom is licensed to render a professional service, may incorporate a professional corporation for pecuniary profit and become shareholders therein in the manner provided in the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978]. The Business Corporation Act applies to professional corporations. If the provisions of the Business Corporation Act conflict with the provisions of the Professional Corporation Act, the provisions of the Professional Corporation Act shall prevail. History: 1953 Comp., § 51-22-4, enacted by Laws 1969, ch. 245, § 1. ANNOTATIONSRequirements for naming dentists' professional corporations. — Dentists may form a professional corporation for the practice of dentistry so long as the name of the corporation contains all of the names of the members of the professional corporation plus the words "professional corporation" or some other word or abbreviation of a word authorized by 53-6-6 NMSA 1978. 1969 Op. Att'y Gen. No. 69-63. Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations §§ 53, 54. Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251. 18 C.J.S. Corporations § 25 et seq.
NM Stat § 53-6-5 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-5 - Purposes for which incorporated.

A professional corporation may be organized only for the purpose of rendering one specific type of professional service and services ancillary thereto and shall not engage in any business other than rendering the professional service which it was organized to render and services ancillary thereto; provided, however, that a professional corporation may own real and personal property necessary or appropriate for rendering the type of professional service it was organized to render and may invest its funds in real estate, mortgages, stocks, bonds and any other type of investments. History: 1953 Comp., § 51-22-5, enacted by Laws 1963, ch. 16, § 5. ANNOTATIONSLaw reviews. — For article, "The New Mexico Professional Corporation," see 9 Nat. Res. J. 591 (1969). Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations §§ 28, 30, 31; 18A Am. Jur. 2d Corporations §§ 192 to 198. Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251. 18 C.J.S. Corporations § 28.
NM Stat § 53-6-6 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-6 - Corporate name.

The corporate name of a professional corporation shall contain the words "limited," "chartered," "professional association" or "professional corporation" or shall contain an abbreviation of those words. History: 1953 Comp., § 51-22-6, enacted by Laws 1969, ch. 245, § 2. ANNOTATIONSCompiler's notes. — For requirements for naming dentists' professional corporations, see notes to 53-6-4 NMSA 1978. Law reviews. — For article, "The New Mexico Professional Corporation," see 9 Nat. Res. J. 591 (1969).
NM Stat § 53-6-7 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-7 - Professional services through officers, employees, and agents.

A professional corporation shall render professional services only through its officers, employees and agents who are duly licensed or otherwise legally authorized to render such professional services; provided, however, this section shall not be interpreted to include in the term "employee", clerks, secretaries, bookkeepers, technicians and other assistants who are not usually and ordinarily considered by custom and practice to be rendering professional services to the public for which the license is required. History: 1953 Comp., § 51-22-7, enacted by Laws 1963, ch. 16, § 7. ANNOTATIONSLaw reviews. — For article, "The New Mexico Professional Corporation," see 9 Nat. Res. J. 591 (1969). Am. Jur. 2d, A.L.R. and C.J.S. references. — Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251.
NM Stat § 53-6-9 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-9 - Issuance and transfer of shares.

Shares of stock of a professional corporation shall be issued and transferred only to persons who are duly licensed or legally authorized to render the professional service for which the corporation is organized, but such shares may be transferred: A. by operation of law to persons or legal entities not so licensed or authorized, subject to the requirements of the Professional Corporation Act; B. to a revocable trust the grantor of which is such a duly licensed or authorized person, provided that the trust contains provisions that require the trustee, upon the grantor's death or disqualification to render the professional service for which the grantor was licensed or authorized, to dispose of the shares as otherwise provided in the Professional Corporation Act; and C. to a tax-qualified employee benefit plan established for the exclusive benefit of the professional corporation's employees, provided that the plan's trustee is required to dispose of the trust's shares as provided in the Professional Corporation Act before transfer or distribution of the shares to beneficiaries of or participants in the plan who are not duly licensed or authorized to render the professional service for which the corporation is organized. History: 1953 Comp., § 51-22-9, enacted by Laws 1969, ch. 245, § 4; 1983, ch. 304, § 7. ANNOTATIONSThe 1983 amendment, effective June 17, 1983, designated Subsection A and added Subsections B and C. Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Corporations § 21; 18A Am. Jur. 2d §§ 381, 382, 681, 709, 733, 735. Issues pertaining to ownership of professional corporation as affected by resignation from corporate practice by active shareholder, 32 A.L.R.4th 921. 18 C.J.S. Corporations §§ 129 to 143.
NM Stat § 53-6-10 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-10 - Sale and transfer of shares.

A. The articles of incorporation of any professional corporation shall provide for the purchase by the corporation, its shareholders, or any person duly licensed or authorized to render the service for which the corporation is organized, of all shares of its stock: (1) held by any person who shall have become disqualified to render the professional service for which he was licensed or authorized; or (2) which devolve by operation of law upon any person or legal entity not licensed or authorized. B. Any purchase of shares under Paragraph (1) of Subsection A shall be effected within a period of thirty days after establishment of the disqualification. Any purchase of shares under Paragraph (2) of Subsection A shall be effected within eight months from the date of devolution. Any shares held in violation of such provisions may be cancelled by action of the board of directors. History: 1953 Comp., § 51-22-10, enacted by Laws 1969, ch. 245, § 5. ANNOTATIONSLaw reviews. — For article, "The New Mexico Professional Corporation," see 9 Nat. Res. J. 591 (1969). Am. Jur. 2d, A.L.R. and C.J.S. references. — 18B Am. Jur. 2d Corporations §§ 1802 to 1809, 1812 to 1814. Construction and application of provision restricting sale or transfer of corporate stock, 2 A.L.R.2d 745. Validity of restrictions on alienation or transfer of corporate stock, 61 A.L.R.2d 1318. 18 C.J.S. Corporations §§ 217 to 292.
NM Stat § 53-6-11 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-11 - Contingent purchase or redemption price.

If the articles of incorporation or the bylaws of a professional corporation fail to fix a price at which the corporation or its shareholders may purchase the shares of a deceased or disqualified shareholder, then the price for the shares shall be the book value of the shares as of the end of the month immediately preceding the death or disqualification of the shareholder. History: 1953 Comp., § 51-22-11, enacted by Laws 1963, ch. 16, § 11; 1969, ch. 245, § 6. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18B Am. Jur. 2d Corporations §§ 1190, 1191.
NM Stat § 53-6-12 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-12 - Disqualification; dissolution.

If any officer, shareholder, agent or employee of a professional corporation who has been rendering professional service to the public becomes legally disqualified to render the professional service within this state, or is elected to a public office that, pursuant to existing law, is a restriction or limitation upon rendering of a professional service, or accepts employment that, pursuant to existing law, places restriction or limitations upon his continued rendering of the professional service, he shall sever all employment with, and financial interest in, the professional corporation forthwith. A professional corporation's failure to require compliance with this section shall constitute a ground for the forfeiture of its articles of incorporation and its dissolution. When a professional corporation's failure to comply with this section is brought to the attention of the public regulation commission [secretary of state], the commission [secretary of state] shall certify to the attorney general that fact for appropriate action to dissolve the professional corporation. History: 1953 Comp., § 51-22-12, enacted by Laws 1963, ch. 16, § 12; 2001, ch. 200, § 33. 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" in the third sentence. Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 Am. Jur. 2d Corporations §§ 2748, 2750 to 2752. 19 C.J.S. Corporations §§ 811 to 882.
NM Stat § 53-6-13 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-13 - Mergers or consolidations.

A professional corporation shall consolidate or merge only with another domestic professional corporation organized to render the same specific professional service. History: 1953 Comp., § 51-22-13, enacted by Laws 1963, ch. 16, § 13; 1969, ch. 245, § 7. ANNOTATIONSSeverability. — Laws 1963, ch. 16, § 14, provided for the severability of the act if any part or application thereof is held invalid. Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 Am. Jur. 2d Corporations §§ 2503, 2507, 2509 to 2512, 2514, 2608 to 2615, 2618, 2621, 2623 to 2630. Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251. 19 C.J.S. Corporations §§ 792 to 810.
NM Stat § 53-6-14 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 6 - Professional Corporations|Section 53-6-14 - Application to professional corporations.

The provisions of the Professional Corporation Act shall apply to all professional corporations chartered in New Mexico. Professional corporations heretofore incorporated shall be required to file any amendments to their articles of incorporation necessary to conform to the requirements of the Professional Corporation Act within eight months from the effective date of this act. Any professional corporation which shall not have filed any necessary amendments within such eight-month period shall be involuntarily dissolved in conformity with the provisions of the Business Corporation Act [Chapter 53, Articles 11 to 18 NMSA 1978]. History: 1953 Comp., § 51-22-14, enacted by Laws 1969, ch. 245, § 8. ANNOTATIONSCompiler's notes. — The phrase "this act" at the end of the second sentence apparently means Laws 1969, ch. 245, which is compiled as 53-6-4, 53-6-6, 53-6-8, 53-6-9, 53-6-10, 53-6-11, 53-6-13 and 53-6-14 NMSA 1978 and which was effective on April 3, 1969. Am. Jur. 2d, A.L.R. and C.J.S. references. — Propriety, under state statutes or bar association or court rules, of formation of multistate law partnership or professional service corporation, 6 A.L.R.4th 1251.
NM Stat § 53-7-1 to 53-7-17 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-1 to 53-7-17 - Repealed.

ANNOTATIONSRepeals. — Laws 1983, ch. 312, § 30, repealed 53-7-1 to 53-7-17 NMSA 1978, relating to development credit corporations, effective April 7, 1983. For present provisions, see 53-7-18 NMSA 1978 et seq.
NM Stat § 53-7-18 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-18 - Repealed.

History: Laws 1983, ch. 312, § 1; 1998, ch. 108, § 24; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-18 NMSA 1978, as enacted by Laws 1983, ch. 312, § 1, relating to the short title of the Business Development Corporation Act, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-19 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-19 - Repealed.

History: Laws 1983, ch. 312, § 2; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-19 NMSA 1978, as enacted by Laws 1983, ch. 312, § 2, relating to definitions, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-20 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-20 - Repealed.

History: Laws 1983, ch. 312, § 3; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-20 NMSA 1978, as enacted by Laws 1983, ch. 312, § 3, relating to business development corporations, effective July 1, 2005. see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-21 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-21 - Repealed.

History: Laws 1983, ch. 312, § 4; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-21 NMSA 1978, as enacted by Laws 1983, ch. 312, § 4, relating to corporate purpose, effective July 1, 2005. see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-22 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-22 - Repealed.

History: Laws 1983, ch. 312, § 5; 1991, ch. 21, § 37; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-22 NMSA 1978, as enacted by Laws 1983, ch. 312, § 5, relating to corporation powers, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-23 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-23 - Repealed.

History: Laws 1983, ch. 312, § 6; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-23 NMSA 1978, as enacted by Laws 1983, ch. 312, § 6, relating to requirements for incorporation, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-24 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-24 - Repealed.

History: Laws 1983, ch. 312, § 7; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-24 NMSA 1978, as enacted by Laws 1983, ch. 312, § 7, relating to authorization to commence business, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 53-7-25 (2021)
2021 New Mexico Statutes|Chapter 53 - Corporations|Article 7 - Business Development Corporation (Repealed.)|Section 53-7-25 - Repealed.

History: Laws 1983, ch. 312, § 8; repealed Laws 2005, ch. 184, § 2.ANNOTATIONSRepeals. — Laws 2005, ch. 184, § 2 repealed 53-7-25 NMSA 1978, as enacted by Laws 1983, ch. 312, § 8, relating to first annual meeting, effective July 1, 2005. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.