§ 56-6-1 Definitions
§ 56-6-2 [License to store agricultural products; issuance upon application; contents; fee.]
§ 56-6-3 [Bond; filing; approval; conditions; effect of termination.]
§ 56-6-4 [Numbering of licenses; display.]
§ 56-6-5 [Insurance required.]
§ 56-6-6 [Action for breach of obligation secured by bond.]
§ 56-6-7 [Revocation of license; procedure.]
§ 56-6-8 [Negotiable receipts to bear endorsement regarding insurance.]
§ 56-6-9 [Issuance of receipts without complying with act; penalty.]
§ 56-6-10 [Exemption of farmer’s marketing associations.]
§ 56-6-11 [Exemption of warehouseman operating under federal act, or under $5,000 bond; exception.]

Terms Used In New Mexico Statutes > Chapter 56 > Article 6 - Warehousing of Agricultural Products

  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • 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.
  • Oath: A promise to tell the truth.
  • 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.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC