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2011 New Mexico Statutes
Chapter 53: Corporations
Article 4: Cooperative Associations, 53-4-1 through 53-4-45
Section 53-4-35: Notice of delinquent reports; forfeitures; reinstatement.

Universal Citation:
NM Stat § 53-4-35 (1996 through 1st Sess 50th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

53-4-35. Notice of delinquent reports; forfeitures; reinstatement.

If an association fails to make a report within the required period of sixty days, the public regulation commission shall, within sixty days from the expiration of the period, send the association a registered letter, directed to its principal office, stating the delinquency and its consequences. If the association fails to file the report within sixty days from the mailing of such notice, the commission shall notify it by registered letter that its corporate rights stand forfeited, shall remove its name from its list of live corporations and notify the attorney general, who shall cause its affairs to be wound up. If, within sixty days from such forfeiture, the association files the report and pays a penalty of ten dollars ($10.00) and all actual expenses of any suit begun to wind it up, the commission shall set aside the forfeiture, the suit shall be dismissed and the association shall be reinstated to its former rights and legal status.

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