New Mexico § 62-2-6 - Directors; qualifications; election
Full text of New Mexico New Mexico Statutes Annotated § 62-2-6 — Directors; qualifications; election, with citation guidance and answers to common questions.
§ 62-2-6. Directors; qualifications; election
The corporate powers of any corporation formed under this article shall be exercised
by a board of not less than three directors who shall be stockholders of the company,
and a majority of them citizens of the United States, and at least one-third of whom
shall be residents of this state. Such directors shall be elected annually, after the expiration of the term of the
directors named in the articles of incorporation, at such time and place, and upon
such notice, and in such mode as the bylaws of the company may provide; but all such
elections shall be by ballot, and each stockholder, either in person or by proxy,
shall be entitled to as many votes as he owns shares of stock, and the persons receiving
the greatest number of votes shall be declared elected. When a vacancy occurs in the office of director by death, resignation or otherwise,
such vacancy shall be filled for the remainder of the year in such manner as the bylaws
shall prescribe. Should there be no election of directors, on the day fixed in the bylaws for such
election, such election may be held at such other time as the bylaws may designate,
and the directors in office may continue to act until their successors are elected.
Frequently Asked Questions About New Mexico § 62-2-6
What does New Mexico Statutes Annotated § 62-2-6 cover?
Section 62-2-6 ("Directors; qualifications; election") 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 § 62-2-6?
A common citation format is "New Mexico Statutes Annotated § 62-2-6" (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 § 62-2-6 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.