2011 New Mexico Statutes
Chapter 53: Corporations
Article 4: Cooperative Associations, 53-4-1 through 53-4-45
Section 53-4-28: Share and membership certificates,[;] attachment.
53-4-28. Share and membership certificates,[;] attachment.
The holdings of any member of an association, to the extent of the minimum amount necessary for membership, shall be exempt from attachment, execution, or garnishment for the debts of the owner. If any holdings in excess of this amount are subject to such liability, the directors of the association may either admit the purchaser thereof to membership, or may, if and when there are sufficient surplus funds, purchase from him such holdings at par value.
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.
