New Mexico Statutes 53-8-53. Revocation of certificate of incorporation
A. The certificate of incorporation of a corporation to conduct affairs in New Mexico may be revoked by the commission [secretary of state] upon the conditions prescribed in this section when:
Terms Used In New Mexico Statutes 53-8-53
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fraud: Intentional deception resulting in injury to another.
(1) the corporation has failed to file its annual report within the time required by the Nonprofit Corporation Act or has failed to pay any fees or penalties prescribed by that act when they have become due and payable;
(2) the certificate of incorporation of the corporation was procured through fraud practiced upon the state;
(3) the corporation has continued to exceed or abuse the authority conferred upon it by the Nonprofit Corporation Act; or
(4) a misrepresentation has been made of any material matter in any application, report, statement or other document submitted by the corporation pursuant to the Nonprofit Corporation Act.
B. A certificate of incorporation of a corporation shall not be revoked by the commission [secretary of state] unless:
(1) the commission [secretary of state] has given the corporation not less than sixty days’ notice thereof by mail addressed to the corporation’s mailing address as shown in the most recent corporate report filed with the commission [secretary of state]; and
(2) the corporation fails prior to revocation to file an annual report, pay fees or penalties, file articles of amendment or articles of merger or correct a material misrepresentation in a document submitted by the corporation pursuant to the Nonprofit Corporation Act.