State Codes and Statutes

State Codes and Statutes

Statutes > New-mexico > Chapter-53 > Article-8 > Section-53-8-2

53-8-2. Definitions.

As used in the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978], unless the context otherwise requires:   

A.     "corporation" or "domestic corporation" means a nonprofit corporation subject to the provisions of the Nonprofit Corporation Act, except a foreign corporation;   

B.     "foreign corporation" means a nonprofit corporation organized under laws other than the laws of New Mexico for a purpose for which a corporation may be organized under the Nonprofit Corporation Act;   

C.     "nonprofit corporation" means a corporation no part of the income or profit of which is distributable to its members, directors or officers;   

D.     "articles of incorporation" means the original or restated articles of incorporation or articles of consolidation and all amendments thereto, including articles of merger;   

E.     "bylaws" means the code of rules adopted for the regulation or management of the affairs of the corporation, irrespective of the name by which such rules are designated;   

F.     "member" means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws;   

G.     "board of directors" means the group of persons vested with the management of the affairs of the corporation, irrespective of the name by which such group is designated;   

H.     "insolvent" means inability of a corporation to pay its debts as they become due in the usual course of its affairs;   

I.     "commission" or "corporation commission" means the public regulation commission or its delegate;   

J.     "address" means:   

(1)     the mailing address and the street address, if within a municipality; or   

(2)     the mailing address and a rural route number and box number, if any, or the geographical location, using well-known landmarks, if outside a municipality;   

K.     "duplicate original" means a document that is signed or executed in duplicate;   

L.     "delivery" means:   

(1)     if personally served, the date documentation is received by the corporations bureau of the commission; and   

(2)     if mailed to the commission, the date of the postmark plus three days, upon proof thereof by the party delivering the documentation; and   

M.     "person" includes individuals, partnerships, corporations and other associations.