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2017 New Mexico Statutes
Chapter 53 - Corporations
Article 16 - Business Corporations; Dissolution of Corporations
Section 53-16-5 - Effect of statement of intent to dissolve.
Universal Citation: NM Stat § 53-16-5 (2017)
53-16-5. Effect of statement of intent to dissolve.
Upon the filing by the commission [secretary of state] of a statement of intent to dissolve, whether by consent of shareholders or by act of the corporation, the corporation shall cease to carry on its business, except insofar as necessary for the winding up thereof, but its corporate existence shall continue until a certificate of dissolution has been issued by the commission [secretary of state] or until a decree dissolving the corporation has been entered by a court of competent jurisdiction as provided in the Business Corporation Act.
History: 1953 Comp., 51-29-5, enacted by Laws 1967, ch. 81, 83.
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