2020 New Mexico Statutes
Chapter 53 - Corporations
Article 18 - Business Corporations; Miscellaneous Provisions
Section 53-18-9 - Unauthorized assumption of corporate powers.

Universal Citation: NM Stat § 53-18-9 (2020)

All persons who assume to act as a corporation without authority to do so are jointly and severally liable for all debts and liabilities incurred or arising as a result thereof.

History: 1953 Comp., § 51-31-8, enacted by Laws 1967, ch. 81, § 129.

ANNOTATIONS

Compiler's notes. — This section is derived from Section 146 of the ABA Model Business Corporation Act.

Law reviews. — Annual Survey of New Mexico Corporate Law, see 17 N.M.L. Rev. 253 (1987).

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