New Mexico Statutes
§ 58-24-21 — Corporate existence
New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 24 Industrial and Agricultural Finance Authority
The authority and its corporate existence shall continue until terminated by law, provided that no such law shall take effect so long as the authority shall have bonds, notes and other obligations outstanding, unless adequate provision has been made for the payment thereof. Upon termination of the existence of the authority, all its rights and properties in excess of its obligations shall pass to and be vested in the state.
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Legislative History
Laws 1983, ch. 300, § 21.
Nearby Sections
15
§ 58-1-1
Short title§ 58-1-11
Access by fiduciaries§ 58-1-13
Lease to minor§ 58-1-14
Search procedure on death§ 58-1-17
Qualification and fiduciary powers§ 58-1-18
Fiduciary bond or oath excused§ 58-1-2
Definitions of banks§ 58-1-2.1
Prohibition§ 58-1-20
Reserves against deposits§ 58-1-21
Loans