2015 New Mexico Statutes
Chapter 7 - Taxation
Section 1 Administration
Section 7-1-56 Sale of or proceedings against security.
7-1-56. Sale of or proceedings against security.
If liability for any tax for the payment of which security has been furnished becomes conclusive, the department may:
A. redeem for cash or, as specified in the Tax Administration Act for sale of property levied upon, sell such security; or
B. compel the surety directly to discharge the liability for payment of the principal debtor by serving demand upon him therefor.
History: 1953 Comp., 72-13-69, enacted by Laws 1965, ch. 248, 57; 1979, ch. 144, 50; 2001, ch. 56, 15.
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.
