New Mexico § 49-4-9 - Organization of board; bonds; vacancies
Full text of New Mexico New Mexico Statutes Annotated § 49-4-9 — Organization of board; bonds; vacancies, with citation guidance and answers to common questions.
§ 49-4-9. Organization of board; bonds; vacancies
A. All members of the newly elected board of trustees shall meet no later than seven
days after the votes are canvassed and organize themselves by the election of a president,
secretary and treasurer. The treasurer shall perform such duties as may be required by the board and shall
furnish to the board a good and sufficient surety bond in a sum as set forth in this
section, to be conditioned as are the bonds of other public officials handling public
money. It is the duty of the treasurer to deposit all the money of the land grant-merced
in a bank or credit union organized and doing business in New Mexico. B. In the event of the death or resignation of the treasurer, the board shall fill
the vacancy by appointing one of the members of the board as treasurer, who shall,
before entering into the performance of the duties as treasurer, execute and furnish
to the board a good and sufficient surety bond, similar to the bond entered into by
the predecessor. C. The amount of the bond required of the treasurer and the treasurer's successor
shall at all times be for a sum of at least double the amount received by and deposited
in the bank or credit union by the treasurer. D. In the event the board of trustees delegates any other of its members to collect
money due the land grant-merced, that person shall be bonded in the same manner as
is provided in this section for the bonding of the treasurer. E. Those authorized to collect money shall give receipts for the money collected,
which receipts shall be in the form prescribed by the board of trustees in the bylaws
as an official receipt.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 49-4-9
What does New Mexico Statutes Annotated § 49-4-9 cover?
Section 49-4-9 ("Organization of board; bonds; vacancies") 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 § 49-4-9?
A common citation format is "New Mexico Statutes Annotated § 49-4-9" (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 § 49-4-9 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.