The transfer, assignment, sale or lease of any license shall not be approved until the director is satisfied that all wholesalers who are creditors of the licensee have been paid or that satisfactory arrangements have been made between the licensee and the wholesaler for the payment of such debts. Such debts shall constitute a lien on the license, and the lien shall be deemed to have arisen on the date when the debt was originally incurred.
§ 60-6B-3 NMSA 1978
Wholesaler's lien
Known as the New Mexico Bingo and Raffle Act
The act spans §§ 60–60 (572 sections).
1978 Comp., § 60-6B-3, enacted by Laws 1991, ch. 257, § 2.
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.