2013 New Mexico Statutes
Chapter 62 - Electric, Gas and Water Utilities
Article 2 - Incorporation and Powers of Waterworks
Section 62-2-14 - [Powers of directors after dissolution.] (1887)

Upon the dissolution of any corporation, the directors at the time of dissolution shall be directors and agents of the creditors and stockholders of the corporation dissolved, and shall have full power to sue for and recover the debts and property of the corporation, by the name of the directors of such corporation, collect and pay any outstanding debts, settle its affairs and divide amongst the stockholders the money and property remaining after the payment of all debts, liabilities and necessary expenses.