All persons who assume to act as a corporation without authority so to do shall be jointly and severally liable for all debts and liabilities incurred or arising as a result thereof.
§ 53-8-98 NMSA 1978
Unauthorized assumption of corporate powers
Known as the Nonprofit Corporation Act
The act spans §§ 53–53 (106 sections).
1953 Comp., § 51-14-137, enacted by Laws 1975, ch. 217, § 95.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.