New Mexico § 46-6-6 - Release from obligation on bond required by statute in civil action; petition; notice; hearing; order

§ 46-6-6. Release from obligation on bond required by statute in civil action; petition; notice; hearing; order

Whenever any surety upon any attachment, replevin or other bond required in civil

actions by the statutes of this state shall have reason to believe himself in danger

from remaining thereon, and desires to be relieved therefrom, he may present a petition

for that purpose to the judge of the district court in which the action wherein the

said bond is given, is pending, either in vacation or term time, setting forth such

reasons and verify the same by his oath. Whereupon said judge is authorized to hear the same in a summary manner and grant

an order relieving the petitioner from such bond if in his judgment the petitioner

is entitled to such relief and upon such terms as shall be prescribed in order to

secure the rights of all parties interested in the cause; provided, that a copy of

such petition shall be served upon the principal and upon the cosurety or sureties

on the bond and also upon the defendant in the cause, together with the notice of

the time and place where the same will be presented, at least ten days before the

hearing; provided, that no surety on any replevin or attachment bond shall be relieved

from his liability on such bond until a new bond shall have been given and approved,

or until the property, the return or forthcoming of which such original bond was intended

to secure, shall have been placed in the custody of the court.