New Mexico § 58-1-69 - Capital, surplus and undivided profits; accounting requirements
Full text of New Mexico New Mexico Statutes Annotated § 58-1-69 — Capital, surplus and undivided profits; accounting requirements, with citation guidance and answers to common questions.
§ 58-1-69. Capital, surplus and undivided profits; accounting requirements
A. No credit shall be entered in the undivided profits account founded upon an unrealized
appreciation in the value of any type of asset except accretion of discounts on investments
securities in accordance with generally accepted accounting principles. Before any net profits are credited to the undivided profits account, proper deduction
shall be made for all expenditures, accrued expenses, accrued taxes, losses, bad debts
and any write-offs or other deductions, including interest accrued and uncollected,
required by the director. B. No transfer shall be made from the surplus account to the undivided profits account
or to any but the capital stock account if the surplus after the transfer would be
less than the capital stock.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 58-1-69
What does New Mexico Statutes Annotated § 58-1-69 cover?
Section 58-1-69 ("Capital, surplus and undivided profits; accounting requirements") 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 § 58-1-69?
A common citation format is "New Mexico Statutes Annotated § 58-1-69" (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 § 58-1-69 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.