§ 53-19-1 Short title
§ 53-19-2 Definitions
§ 53-19-3 Name
§ 53-19-4 Reservation of name
§ 53-19-5 Registered office and registered agent; change of principal place of business
§ 53-19-6 Nature and duration of business
§ 53-19-7 Formation
§ 53-19-8 Articles of organization
§ 53-19-9 Filing
§ 53-19-10 Effect of filing of articles of organization
§ 53-19-11 Amendment and restatement of articles of organization
§ 53-19-12 Execution of documents
§ 53-19-13 Liability of members and managers to third parties
§ 53-19-14 Parties to actions
§ 53-19-15 Management by members or managers
§ 53-19-16 Liabilities and duties of managers and members
§ 53-19-17 Voting
§ 53-19-18 Indemnification of members and managers
§ 53-19-19 Records and information
§ 53-19-20 Contributions to capital; certificates of membership interest
§ 53-19-21 Liability for contribution
§ 53-19-22 Sharing of profits and losses
§ 53-19-23 Sharing of interim distributions
§ 53-19-24 Distribution on event of dissociation
§ 53-19-25 Withdrawals of capital and distributions in kind
§ 53-19-26 Wrongful distributions
§ 53-19-27 Liability upon wrongful distribution
§ 53-19-28 Right to distribution
§ 53-19-29 Ownership of property by the limited liability company
§ 53-19-30 Transfer of property of limited liability company
§ 53-19-31 Nature of membership interest
§ 53-19-32 Assignment of interests
§ 53-19-33 Right of assignee to become a member
§ 53-19-34 Interest of a deceased, incompetent or terminated member
§ 53-19-35 Rights of judgment creditor of member
§ 53-19-36 Admission of members
§ 53-19-37 Voluntary withdrawal of members
§ 53-19-38 Events of dissociation
§ 53-19-39 Dissolution
§ 53-19-40 Judicial dissolution
§ 53-19-41 Articles of dissolution
§ 53-19-42 Winding up
§ 53-19-43 Power of managers or members after dissolution
§ 53-19-44 Distribution of assets
§ 53-19-45 Known claims against dissolved limited liability company
§ 53-19-46 Unknown claims against dissolved limited liability company
§ 53-19-47 Laws governing foreign limited liability company
§ 53-19-48 Registration
§ 53-19-49 Issuance of registration
§ 53-19-50 Name
§ 53-19-51 Amended certificate of registration
§ 53-19-52 Cancellation of registration
§ 53-19-53 Transaction of business without registration
§ 53-19-54 Transactions not constituting transacting business
§ 53-19-55 Service of process
§ 53-19-56 Action by attorney general
§ 53-19-57 Suits by and against the limited liability company
§ 53-19-58 Authority to sue on behalf of limited liability company
§ 53-19-59 Conversions and mergers; definitions
§ 53-19-60 Conversions and mergers; conversion of corporation, partnership or limited partnership to limited liability company
§ 53-19-60.1 Conversions and mergers; conversion of limited liability company to corporation, partnership or limited partnership
§ 53-19-61 Conversions and mergers; effect of conversion
§ 53-19-62 Conversions and merger of entities
§ 53-19-62.1 Conversion and mergers; articles of merger
§ 53-19-62.2 Conversions and mergers; effect of merger
§ 53-19-62.3 Conversion and mergers; non-exclusivity
§ 53-19-63 Filing, service and copying fees
§ 53-19-64 Execution by judicial act
§ 53-19-65 Rules of construction
§ 53-19-66 Powers of commission [secretary of state]
§ 53-19-66.1 Administrative revocation
§ 53-19-66.2 Reinstatement following administrative revocation
§ 53-19-67 Appeal from commission [secretary of state]
§ 53-19-68 Issuance of certificate of good standing and compliance
§ 53-19-69 Certificates and certified copies to be received in evidence
§ 53-19-70 Forms furnished by the commission [secretary of state]
§ 53-19-71 Application to existing limited liability companies
§ 53-19-72 Application to foreign and interstate commerce
§ 53-19-73 Reservation of power
§ 53-19-74 Commission’s [secretary of state’s] retention of records.

Terms Used In New Mexico Statutes > Chapter 53 > Article 19 - Limited Liability Companies

  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Service of process: The service of writs or summonses to the appropriate party.
  • Statute: A law passed by a legislature.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.