New Mexico § 62-2-15 - Borrowing money; bonds; mortgages
Full text of New Mexico New Mexico Statutes Annotated § 62-2-15 — Borrowing money; bonds; mortgages, with citation guidance and answers to common questions.
§ 62-2-15. Borrowing money; bonds; mortgages
Corporations formed under this article shall have power to borrow such sums of money
as may be necessary for the construction, completion or operation of their reservoirs,
canals and ditches, or pipelines, or the purchase of any lands, water rights or other
property necessary, in order to carry out the objects for which they were incorporated;
and to issue and dispose of their bonds for any amount so borrowed, and to mortgage
their corporate property and franchises to secure the payment of any debt contracted
for the purpose aforesaid.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 62-2-15
What does New Mexico Statutes Annotated § 62-2-15 cover?
Section 62-2-15 ("Borrowing money; bonds; mortgages") 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 § 62-2-15?
A common citation format is "New Mexico Statutes Annotated § 62-2-15" (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 § 62-2-15 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.