New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 3 - BUSINESS ASSOCIATIONS
Part 4 - OTHER BUSINESS ENTITIES
Section 12.3.4.10 - FOREIGN BUSINESS TRUSTS

Universal Citation: 12 NM Admin Code 12.3.4.10

Current through Register Vol. 35, No. 18, September 24, 2024

A foreign business trust shall comply with the requirements of the Foreign Business Trust Registration Act, NMSA 1978 Sections 53-20-1 through 53-20-17.

A. Filing requirements. A foreign business trust shall file all documents required by this section in compliance with the 12.3.1 NMAC, General Provisions, and shall pay filing fees required by NMSA 1978 Section 53-20-17.

B. Name. A foreign business trust shall meet the requirements for names in NMSA 1978 Sections 53-20-4 and 53-20-5, and may use the procedures in 12.3.1.15 NMAC for inquiring about, reserving, formally applying for, or reinstating a name.

C. Documents required.

(1) Certificate of authority. In order to transact business in New Mexico, a foreign business trust must obtain a certificate of authority by complying with the application requirements and process in NMSA 1978 Sections 53-20-6 and 53-20-7. A foreign business trust may amend or change its certificate of authority by filing the documents required by NMSA 1978 Section 53-20-8.

(2) Statement designating registered agent and office. A foreign business trust shall have and continuously maintain on file with the commission a registered office and agent that meet the requirements in NMSA 1978 Sections 53-20-9, 53-20-10, and 53-20-11.

D. Withdrawal. A foreign business trust authorized to do business in New Mexico may withdraw by obtaining a certificate of withdrawal from the commission following the process required by NMSA 1978 Sections 53-20-12 and 53-20-13.

E. Administrative revocation. The commission may revoke the certificate of authority for a foreign business trust for the reasons listed and following the process provided in NMSA 1978 Sections 53-20-14 and 53-20-15.

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