New Mexico Statutes 53-8-2. Definitions
As used in the Nonprofit Corporation Act, unless the context otherwise requires:
Terms Used In New Mexico Statutes 53-8-2
- 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.
A. “corporation” or “domestic corporation” means a nonprofit corporation subject to the provisions of the Nonprofit Corporation Act, except a foreign corporation;
B. “foreign corporation” means a nonprofit corporation organized under laws other than the laws of New Mexico for a purpose for which a corporation may be organized under the Nonprofit Corporation Act;
C. “nonprofit corporation” means a corporation no part of the income or profit of which is distributable to its members, directors or officers;
D. “articles of incorporation” means the original or restated articles of incorporation or articles of consolidation and all amendments thereto, including articles of merger;
E. “bylaws” means the code of rules adopted for the regulation or management of the affairs of the corporation, irrespective of the name by which such rules are designated;
F. “member” means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws;
G. “board of directors” means the group of persons vested with the management of the affairs of the corporation, irrespective of the name by which such group is designated;
H. “insolvent” means inability of a corporation to pay its debts as they become due in the usual course of its affairs;
I. “commission” or “corporation commission” means the public regulation commission [secretary of state] or its delegate;
J. “address” means:
(1) the mailing address and the street address, if within a municipality; or
(2) the mailing address and a rural route number and box number, if any, or the geographical location, using well-known landmarks, if outside a municipality;
K. “duplicate original” means a document that is signed or executed in duplicate; L. “delivery” means:
(1) if personally served, the date documentation is received by the corporations bureau of the commission; and
(2) if mailed to the commission [secretary of state], the date of the postmark plus three days, upon proof thereof by the party delivering the documentation; and
M. “person” includes individuals, partnerships, corporations and other associations.