New Mexico § 53-4-40 Existing cooperative corporations

New Mexico Statutes

§ 53-4-40 — Existing cooperative corporations

New Mexico § 53-4-40

Ch. 53Corporations

Art. 4Cooperative Associations

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Bluebook

N.M. Stat. Ann. § 53-4-40 (2026).

Text

A group incorporated under another law of this state and operating on a cooperative basis may elect by a vote of two-thirds of the members voting to secure the benefits of and be bound by the provisions of the Cooperative Association Act and shall amend its articles and bylaws not in conformity with those provisions. A certified copy of the amended articles shall be filed with the public regulation commission [secretary of state] and a fee of twenty-five dollars ($25.00) shall be paid.

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A group incorporated under another law of this state and operating on a cooperative basis may elect by a vote of two-thirds of the members voting to secure the benefits of and be bound by the provisions of the Cooperative Association Act and shall amend its articles and bylaws not in conformity with those provisions. A certified copy of the amended articles shall be filed with the public regulation commission [secretary of state] and a fee of twenty-five dollars ($25.00) shall be paid.