2011 New Mexico Statutes
Chapter 63: Railroads and Communications
Article 1: Organization and Management of Railroads, 63-1-1 through 63-1-42
Section 63-1-2: Articles of incorporation.
63-1-20. [Assessment remaining unpaid; requirements for new levy.]
No assessment shall be levied while any portion of a previous one remains unpaid, unless:
A. the power of the corporation has been exercised in accordance with the provisions of this chapter, for the purpose of collecting such previous assessment;
B. the collection of the previous assessment has been enjoined; or
C. the assessment falls within the first proviso contained in the preceding section [63-1-19 NMSA 1978].
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