New Mexico § 49-5-7 - Officers; duties; secretary-treasurer's bond; compensation
Full text of New Mexico New Mexico Statutes Annotated § 49-5-7 — Officers; duties; secretary-treasurer's bond; compensation, with citation guidance and answers to common questions.
§ 49-5-7. Officers; duties; secretary-treasurer's bond; compensation
That the board of directors shall choose a president and a secretary-and-treasurer. The president shall be chosen from the members of the board, shall preside at all
meetings of the board and act as the executive officer thereof. He shall sign all warrants for the payment of money and all deeds and other instruments
of writing requiring the corporate seal. The secretary-and-treasurer shall give bond to the state of New Mexico in such sum
as the board of trustees shall require, the same to be conditioned for the faithful
performance of the duties of his office. It shall be his duty to keep a record of the proceedings of the board, which record
shall be open to public inspection at all reasonable hours, to attest all warrants
for the payment of money and all deeds and other instruments of writing requiring
the signature of the president. He shall be the custodian of all funds, moneys and papers belonging to the board
of trustees. No compensation shall be voted at any time to any trustee or to any officer thereof,
save the secretary-and-treasurer.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 49-5-7
What does New Mexico Statutes Annotated § 49-5-7 cover?
Section 49-5-7 ("Officers; duties; secretary-treasurer's bond; compensation") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 49-5-7?
A common citation format is "New Mexico Statutes Annotated § 49-5-7" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 49-5-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.