New Mexico Statutes 45-5-422. Sale, encumbrance or transaction involving conflict of interest; voidable; exceptions
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Any sale or encumbrance to a conservator, his spouse, agent or attorney, or to any corporation or trust in which he has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest is voidable unless the transaction is approved by the court after notice to interested persons and others as directed by the court.
Terms Used In New Mexico Statutes 45-5-422
- 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.