Any resolution authorizing, or other instrument appertaining to, any securities hereunder may provide that each security therein authorized shall recite that it is issued under authority hereof. Such recital shall conclusively impart full compliance with all of the provisions hereof, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.
§ 72-16-53 NMSA 1978
Incontestable recital in securities
Known as the Arroyo Flood Control Act
The act spans §§ 72–72 (104 sections).
1953 Comp., § 75-36-53, enacted by Laws 1963, ch. 311, § 53.
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.