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2020 New Mexico Statutes
Chapter 7 - Taxation
Article 1 - Administration
Section 7-1-56 - Sale of or proceedings against security.
Universal Citation: NM Stat § 7-1-56 (2020)
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.
ANNOTATIONSCross references. — For sale of property for taxes generally, see 7-1-42 to 7-1-52 NMSA 1978.
The 2001 amendment, effective July 1, 2001, substituted "department" for "director or his delegate" in the introductory language of the section.
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