New Mexico Statutes 56-9-19. [Conditions of bond.]
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The bond shall be taken in the name of the state of New Mexico, and the conditions shall be as follows: The conditions of this obligation are such that if the above bound assignee of . . . . . . . shall, in all things, discharge his duty as assignee of . . . . . . . aforesaid, and faithfully execute the trust confided to him, then the above obligation to be void, otherwise to remain in full force.
Terms Used In New Mexico Statutes 56-9-19
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.