New Mexico § 49-8-4 - Board of trustees; powers

§ 49-8-4. Board of trustees; powers

The board of trustees shall have the following general powers: A. to control, care for and manage the common lands of the grant and all the property

pertaining thereto, to prescribe the terms on which they may be used and to make all

necessary and proper regulations for the government thereof; B. to sue and be sued under the title set forth in Section 49-8-1 NMSA 1978; C. to lease any portions of the common land or the pasturage thereon and to sell any

timber, wood, stone, grass or other product or personal property of the grant; D. to pay all taxes and other expenses due on the common land; and E. in case the income exceeds the expenses, to expend the balance to benefit all the

owners equitably or for improvements upon the common land that will be for the general

benefit of the owners. The board of trustees shall make a report in writing of its transactions during the

preceding year, including an account of all money received and expended, at the opening

of the annual meeting of the owners.