New Mexico § 3-23-7 Appointment of receiver; qualifications; powers

New Mexico Statutes

§ 3-23-7 — Appointment of receiver; qualifications; powers

New Mexico § 3-23-7

Ch. 3Municipalities

Art. 23Public Utilities

This text of New Mexico § 3-23-7 (Appointment of receiver; qualifications; powers) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 3-23-7 (2026).

Text

A. Upon the failure of any municipality coming within the provisions of Sections 3- 23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978, to comply with the provisions of these sections, the district court may at the suit of any resident taxpayer of the municipality appoint a receiver for the municipal utility. Under the court's direction, the receiver shall operate the municipal utility to accomplish the objectives and purposes of Sections 3- 23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978. B. No person shall be appointed a receiver unless he:

(1)has been an actual resident in good faith of the municipality for not less than one year prior to the date of his appointment; and (2) is a taxpayer and owner of real estate of the value of at least five hundred dollars ($500) within the municipality. Upon petit

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A. Upon the failure of any municipality coming within the provisions of Sections 3- 23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978, to comply with the provisions of these sections, the district court may at the suit of any resident taxpayer of the municipality appoint a receiver for the municipal utility. Under the court's direction, the receiver shall operate the municipal utility to accomplish the objectives and purposes of Sections 3- 23-4, 3-23-7, 3-23-8 and 3-23-9 NMSA 1978. B. No person shall be appointed a receiver unless he: (1) has been an actual resident in good faith of the municipality for not less than one year prior to the date of his appointment; and (2) is a taxpayer and owner of real estate of the value of at least five hundred dollars ($500) within the municipality. Upon petition to remove the receiver signed by not less than fifty-one percent of the qualified electors who are taxpayers resident within the municipality, the district court shall remove the receiver. A receiver shall act until discharged by the district court.