New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 3 - BUSINESS ASSOCIATIONS
Part 4 - OTHER BUSINESS ENTITIES
Section 12.3.4.9 - COOPERATIVE ASSOCIATIONS
Current through Register Vol. 35, No. 18, September 24, 2024
A cooperative association shall comply with the requirements of the Cooperative Associations Act, NMSA 1978 Sections 53-4-1 through 53-4-45. Once properly formed, a cooperative association shall be deemed a nonprofit corporation as provided in NMSA 1978 Section 53-4-1.
A. Filing requirements. A cooperative association shall file all documents required by this section in compliance with 12.3.1 NMAC, General Provisions, and pay all filing fees required.
B. Name. A cooperative association shall comply with the name requirements in NMSA 1978 Section 53-4-37, 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.
D. Merger and conversion.
E. Dissolution. A cooperative association may voluntarily dissolve by complying with NMSA 1978 Section 53-4-36, and may file with the commission a statement indicating compliance.
F. Administrative revocation and forfeiture. The commission may administratively revoke a cooperative association by sending a notice of forfeiture under the circumstances provided in, and following the requirements of, NMSA 1978 Section 53-4-35. If the commission administratively revokes a cooperative association, the association may apply for reinstatement by complying with the applicable requirements in NMSA 1978 Section 53-4-35.