There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 47: Property Law
Article 7C: Condominium Act - Management of Condominium, 47-7C-1 through 47-7C-19
Section 47-7C-14: Surplus funds.
NM Stat § 47-7C-14 (1996 through 1st Sess 50th Legis) What's This?
47-7C-14. Surplus funds.
Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
