§ 62-20-1 Short title
§ 62-20-2 Definitions
§ 62-20-3 Creation of authority; merger with authority; service area
§ 62-20-4 Articles of incorporation
§ 62-20-5 Authority powers and duties
§ 62-20-6 Board; creation; powers; duties
§ 62-20-7 Acceptance of assets and liabilities of dissolved entities;

Terms Used In New Mexico Statutes > Chapter 62 > Article 20 - Regional Water System Resiliency

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • 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.
  • Personal property: All property that is not real property.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.