New Mexico § 72-17-51 Ranking among securities of same issue

New Mexico Statutes

§ 72-17-51 — Ranking among securities of same issue

New Mexico § 72-17-51

Ch. 72Water Law

Art. 17Las Cruces Metropolitan Arroyo Flood Control

This text of New Mexico § 72-17-51 (Ranking among securities of same issue) 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. § 72-17-51 (2026).

Text

All securities of the same issue or series shall be equally and ratably secured without priority by reason of number, date of maturity, date of securities, of sale, of execution, or of delivery, by a lien on said revenues in accordance with the provisions of this act [Chapter 72, Article 17 NMSA 1978] and the resolution authorizing, or other instrument appertaining to, said securities, except to the extent such resolution or other instrument shall otherwise expressly provided [provide].

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All securities of the same issue or series shall be equally and ratably secured without priority by reason of number, date of maturity, date of securities, of sale, of execution, or of delivery, by a lien on said revenues in accordance with the provisions of this act [Chapter 72, Article 17 NMSA 1978] and the resolution authorizing, or other instrument appertaining to, said securities, except to the extent such resolution or other instrument shall otherwise expressly provided [provide].