New Mexico § 62-2-14 [Powers of directors after dissolution.]

New Mexico Statutes

§ 62-2-14 — [Powers of directors after dissolution.]

New Mexico § 62-2-14

Ch. 62Electric, Gas and Water Utilities

Art. 2Incorporation and Powers of Waterworks

This text of New Mexico § 62-2-14 ([Powers of directors after dissolution.]) 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. § 62-2-14 (2026).

Text

Upon the dissolution of any corporation, the directors at the time of dissolution shall be directors and agents of the creditors and stockholders of the corporation dissolved, and shall have full power to sue for and recover the debts and property of the corporation, by the name of the directors of such corporation, collect and pay any outstanding debts, settle its affairs and divide amongst the stockholders the money and property remaining after the payment of all debts, liabilites [liabilities] and necessary expenses.

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Upon the dissolution of any corporation, the directors at the time of dissolution shall be directors and agents of the creditors and stockholders of the corporation dissolved, and shall have full power to sue for and recover the debts and property of the corporation, by the name of the directors of such corporation, collect and pay any outstanding debts, settle its affairs and divide amongst the stockholders the money and property remaining after the payment of all debts, liabilites [liabilities] and necessary expenses.