New Mexico Statutes
§ 53-11-49 — Removal of officers
New Mexico § 53-11-49
This text of New Mexico § 53-11-49 (Removal of officers) 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. § 53-11-49 (2026).
Text
Any officer or agent may be removed by the board of directors whenever in its judgment the best interests of the corporation will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person removed. Election or appointment of an officer or agent shall not of itself create contract rights.
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Legislative History
1953 Comp., § 51-24-47, enacted by Laws 1967, ch. 81, § 47.
Nearby Sections
15
§ 53-10-8
[Construction of act.]§ 53-11-1
Short title§ 53-11-10
Renewal of registered name§ 53-11-11
Registered office and registered agent§ 53-11-14
Service of process on corporation§ 53-11-15
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Bluebook (online)
New Mexico § 53-11-49, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/53/53-11-49.