Section 72-19-53 - Incontestable recital in securities. - New-mexico Statutes

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Statutes > New-mexico > Chapter-72 > Article-19 > Section-72-19-53

72-19-53. Incontestable recital in securities.

Any resolution authorizing, or other instrument appertaining to, any securities under the Southern Sandoval County Arroyo Flood Control Act [72-19-1 to 72-19-103 NMSA 1978] may provide that each security authorized by such a resolution shall recite that it is issued under authority of that act. Such recital shall conclusively impart full compliance with all of the provisions of that act, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.

State Codes and Statutes

Statutes > New-mexico > Chapter-72 > Article-19 > Section-72-19-53

72-19-53. Incontestable recital in securities.

Any resolution authorizing, or other instrument appertaining to, any securities under the Southern Sandoval County Arroyo Flood Control Act [72-19-1 to 72-19-103 NMSA 1978] may provide that each security authorized by such a resolution shall recite that it is issued under authority of that act. Such recital shall conclusively impart full compliance with all of the provisions of that act, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-mexico > Chapter-72 > Article-19 > Section-72-19-53

72-19-53. Incontestable recital in securities.

Any resolution authorizing, or other instrument appertaining to, any securities under the Southern Sandoval County Arroyo Flood Control Act [72-19-1 to 72-19-103 NMSA 1978] may provide that each security authorized by such a resolution shall recite that it is issued under authority of that act. Such recital shall conclusively impart full compliance with all of the provisions of that act, and all securities issued containing such recital shall be incontestable for any cause whatsoever after their delivery for value.