New Mexico Statutes

§ 53-4-13 — One member - one vote

New Mexico·Ch. 53 Corporations·Art. 4 Cooperative Associations
Each member of an association shall have one and only one vote, except that, where an association has, as members, other associations, or groups organized on a cooperative basis, the voting rights of such member associations or groups may be prescribed in the article or by-laws [bylaws]. No voting agreement or other device to evade the one member-one vote rule shall be enforceable at law or in equity.

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Legislative History

Laws 1939, ch. 164, § 13; 1941 Comp., § 54-1413; 1953 Comp., § 51-15-13.

Nearby Sections

15
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