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2017 New Mexico Statutes
Chapter 53 - Corporations
Article 4 - Cooperative Associations
Section 53-4-22 - Limitations on interest-dividends.
Universal Citation: NM Stat § 53-4-22 (2017)
53-4-22. Limitations on interest-dividends.
Interest-dividends shall not exceed fifteen percent per year and shall be noncumulative. Total interest-dividends distributed for any single period shall not exceed fifty percent of the net savings for that period.
History: Laws 1939, ch. 164, 22; 1941 Comp., 54-1422; 1953 Comp., 51-15-22; Laws 1983, ch. 14, 1.
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