Cooperative Association Act
New Mexico · Corporations · §§ 53-4-1 to 53-4-9.1 · 55 sections
Overview
A cooperative association act governs the formation, governance, and operation of cooperative associations, providing for their incorporation by incorporators who file articles of association with the state, for a certificate of association, and for requirements covering the cooperative's name, principal office, and registered agent. It sets the internal framework for these entities — bylaws, membership and voting rights, member and director meetings with quorum and notice rules, a board of directors, executive committee, and officers — along with the cooperative's general powers and the liability of its directors and members. It further regulates the issuance, transfer, and control of stock and stock certificates, the apportionment and distribution of proceeds and the handling of unclaimed distributions, the disposition of assets and securing of debts, and the maintenance of and access to books and records.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- § 53-4-1 NMSA 1978Definitions
- § 53-4-10 NMSA 1978Regular and special meetings
- § 53-4-11 NMSA 1978Notice of meeting
- § 53-4-1.1 NMSA 1978Short title
- § 53-4-12 NMSA 1978Meetings by units of the membership
- § 53-4-13 NMSA 1978One member - one vote
- § 53-4-14 NMSA 1978No proxy
- § 53-4-15 NMSA 1978Voting by mail
- § 53-4-16 NMSA 1978Application of voting provisions herein to voting by mail
- § 53-4-17 NMSA 1978Application of voting provisions herein to voting by delegates
- § 53-4-18 NMSA 1978Directors
- § 53-4-18.1 NMSA 1978Duties of directors
- § 53-4-18.2 NMSA 1978Liability of directors
- § 53-4-18.3 NMSA 1978Repealed
- § 53-4-19 NMSA 1978Officers
- § 53-4-2 NMSA 1978Who may incorporate
- § 53-4-20 NMSA 1978Removal of directors and officers
- § 53-4-21 NMSA 1978Referendum
- § 53-4-21.1 NMSA 1978Disposition of property
- § 53-4-22 NMSA 1978Limitations on interest-dividends
- § 53-4-23 NMSA 1978Eligibility and admission to membership
- § 53-4-24 NMSA 1978Subscribers
- § 53-4-25 NMSA 1978Share and membership certificates; issuance and contents
- § 53-4-26 NMSA 1978Transfer of shares and membership; withdrawal
- § 53-4-27 NMSA 1978Share and membership certificates; recall
- § 53-4-28 NMSA 1978Share and membership certificates; attachment
- § 53-4-29 NMSA 1978Liability of members
- § 53-4-3 NMSA 1978Purposes
- § 53-4-30 NMSA 1978Expulsion
- § 53-4-31 NMSA 1978Allocation and distribution of net savings
- § 53-4-32 NMSA 1978Bonding
- § 53-4-33 NMSA 1978Books; auditing
- § 53-4-34 NMSA 1978Annual report
- § 53-4-35 NMSA 1978Notice of delinquent reports; forfeitures; reinstatement
- § 53-4-36 NMSA 1978Voluntary dissolution
- § 53-4-37 NMSA 1978Use of name "cooperative"; penalty
- § 53-4-38 NMSA 1978Promotion expenses; limitations; penalty
- § 53-4-39 NMSA 1978Spreading false reports; penalty
- § 53-4-4 NMSA 1978Powers
- § 53-4-40 NMSA 1978Existing cooperative corporations
- § 53-4-41 NMSA 1978Foreign corporations
- § 53-4-42 NMSA 1978Legality declared; not in restraint of trade
- § 53-4-43 NMSA 1978Laws not applicable
- § 53-4-44 NMSA 1978Subsequent laws
- § 53-4-45 NMSA 1978Taxation
- § 53-4-5 NMSA 1978Articles of incorporation; contents
- § 53-4-6 NMSA 1978Articles of incorporation; filing; recordation; fees
- § 53-4-6.1 NMSA 1978Registered office and registered agent
- § 53-4-6.2 NMSA 1978Change of registered office or registered agent
- § 53-4-6.3 NMSA 1978Service of process on association
- § 53-4-6.4 NMSA 1978Recompiled
- § 53-4-7 NMSA 1978Articles of incorporation; amendments; fee
- § 53-4-8 NMSA 1978Adoption, amendment, or repeal of by-laws [bylaws]
- § 53-4-9 NMSA 1978Contents of by-laws [bylaws]
- § 53-4-9.1 NMSA 1978Indemnification of officers and directors
Enacted in other states
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