New Mexico Statutes
§ 40-3-4 — Contracts of indemnity; no obligation of community
New Mexico § 40-3-4
This text of New Mexico § 40-3-4 (Contracts of indemnity; no obligation of community) 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. § 40-3-4 (2026).
Text
property unless signed by both husband and wife. It is against the public policy of this state to allow one spouse to obligate community property by entering into a contract of indemnity whereby he will indemnify a surety company in case of default of the principal upon a bond or undertaking issued in consideration of the contract of indemnity. No community property shall be liable for any indebtedness incurred as a result of any contract of indemnity made after the effective date of this section, unless both husband and wife sign the contract of indemnity.
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Legislative History
1953 Comp., § 57-4-10, enacted by Laws 1965, ch. 74, § 1.
Nearby Sections
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Repealed§ 40-1-13
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Ceremony by religious societyCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 40-3-4, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/40/40-3-4.