2023 New Mexico Statutes › Chapter 53 - Corporations › Article 4 - Cooperative Associations › Section 53-4-34 - Annual report.

A. An association shall, annually within sixty days of the close of its operations for that year, make a report of its condition sworn to by the president and the secretary, which report shall be filed with the public regulation commission [secretary of state]. The report shall state:
(1) the name and principal address of the association;
(2) the names and addresses of the officers and directors and the name and address of the initial registered agent and registered office of the association;
(3) the amount and nature of the association's authorized, subscribed and paid-in capital, the number of its shareholders, the par value of its shares and the rate at which any interest-dividends have been paid. For nonshare associations, the annual report shall state the total number of members, the number admitted or withdrawn during the year and the amount of membership fees received; and
(4) the receipts, expenditures, assets and liabilities of the association.
B. A copy of the report required pursuant to Subsection A of this section shall be kept on file at the principal office of the association.
C. A person who signs or verifies a report required pursuant to Subsection A of this section that contains a false statement, known to that person to be false, shall upon conviction be fined not exceeding five hundred dollars ($500) or imprisoned not exceeding one year, or both.
D. Every association shall pay an annual fee of ten dollars ($10.00) upon filing the report.
E. A supplemental report shall be filed with the public regulation commission [secretary of state] within thirty days if, after filing of the annual report, a change is made in:
(1) the mailing address, street address, rural route number, box number, or the geographical location of its registered office in this state;
(2) the name of the agent at the address of the registered office upon whom process against the association may be served; or
(3) the name or address of any of the directors or officers of the association or the date when term of office expires.
History:
Laws 1939, ch. 164, § 34; 1941 Comp., § 54-1434; 1953 Comp., § 51-15-34; Laws 1993, ch. 311, § 6; 2001, ch. 200, § 18.
ANNOTATIONS
Bracketed 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, in Subsection A, substituted "public regulation commission" for "state corporation commission" in the preliminary language, inserted "of the association" at the end of Paragraph (2), inserted "the association's" preceding "authorized" in Paragraph (3); inserted the Subsection B designation and renumbered the remaining subsections accordingly; inserted "required pursuant to Subsection A of this section" in Subsection B; substituted "A person who signs or verifies a report required pursuant to Subsection A of this section that contains a false statement" for "Any person who subscribes or makes oath to such report containing a false statement"; and added Subsection E.
The 1993 amendment,
effective July 1, 1993, added the Subsections A and B designations and added Subsection C; in Subsection A(2), deleted "occupations and date of expiration of the terms" following "addresses" and substituted "and the name and address of its initial registered agent and registered office" for "and their compensation, if any"; and made minor stylistic changes throughout the section.
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 18A Am. Jur. 2d Corporations § 362.
19 C.J.S. Corporations § 542.