New Mexico Statutes 53-8-70. Effect of [certificate of] authority
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Unless the corporation commission [secretary of state] disapproves pursuant to Subsection A of Section 53-8-91 N.M. Stat. Ann., upon delivery of the application for a certificate of authority to the corporation commission [secretary of state], the corporation shall be authorized to conduct affairs in New Mexico for those purposes set forth in its application, subject, however, to the right of this state to suspend or to revoke such authority as provided in the Nonprofit Corporation Act.
Terms Used In New Mexico Statutes 53-8-70
- 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.