New Mexico § 63-1-23 - Effect of corporation purchase
Full text of New Mexico New Mexico Statutes Annotated § 63-1-23 — Effect of corporation purchase, with citation guidance and answers to common questions.
§ 63-1-23. Effect of corporation purchase
All purchases of its own stock made by any corporation, as provided in the last section,
shall vest the legal title to the same in the corporation; and the stock so purchased
shall be held subject to the control of the stockholders, who may make such disposition
of the same as they may deem proper, in accordance with the bylaws of the corporation,
or by vote of the stockholders representing a majority of all the remaining shares. Whenever any portion of the capital stock of a corporation is held by the corporation
by purchase, as aforesaid, a majority of the remaining shares shall be a majority
of the stock for all purposes of election, or voting on any question at the meeting
of the stockholders.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 63-1-23
What does New Mexico Statutes Annotated § 63-1-23 cover?
Section 63-1-23 ("Effect of corporation purchase") 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 § 63-1-23?
A common citation format is "New Mexico Statutes Annotated § 63-1-23" (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 § 63-1-23 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.