New Mexico § 60-6A-19 - No property right in license; exception

§ 60-6A-19. No property right in license; exception

A. The holder of any license issued under the Liquor Control Act or any former act

has no vested property right in the license, which is the property of the state;

provided that retailer's licenses, dispenser's licenses and canopy licenses that were

replaced by dispenser's licenses pursuant to Section 60-6B-16 NMSA 1978: (1) shall be considered property subject to execution, attachment, a security transaction,

liens, receivership and all other incidents of tangible personal property under the

laws of this state, except as otherwise provided in the Liquor Control Act; (2) may be assigned, transferred from person to person or leased, provided all requirements

of the Liquor Control Act and department regulations are fulfilled; and (3) shall be transferred as personal property upon attachment, execution, repossession

by a secured party or lienor, foreclosure by a creditor, appointment of a receiver

for the licensee, death of the licensee, filing of a petition of bankruptcy by or

for the licensee, incapacity of the licensee or dissolution of the licensee. The director may by rule or regulation determine any application or notice requirement

for a person who temporarily holds a license pursuant to this subsection. B. Any license issued under the Liquor Control Act may be transferred to any location

not otherwise contrary to law within the same local option district where the license

is then located, provided all requirements of the Liquor Control Act and department

regulations are fulfilled.