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2011 New Mexico Statutes
Chapter 53: Corporations
Article 11: Business Corporations; Substantive Provisions, 53-11-1 through 53-11-51
Section 53-11-49: Removal of officers.


NM Stat § 53-11-49 (1996 through 1st Sess 50th Legis) What's This?

53-11-49. Removal of officers.

Any officer or agent may be removed by the board of directors whenever in its judgment the best interests of the corporation will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person removed. Election or appointment of an officer or agent shall not of itself create contract rights.

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