A. If the commission [secretary of state] fails to approve any articles of incorporation, amendment, merger, consolidation or dissolution or any other document required by the Business Corporation Act to be approved by the commission [secretary of state] before it is filed in its office, it shall, within fifteen working days after the delivery thereof to it, give written notice of its disapproval to the person or corporation, domestic or foreign, delivering the same, specifying the reasons therefor. From the disapproval, the person or corporation may appeal to the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978.
B. If the commission [secretary of state] revokes the certificate of authority to transact business in this state of any foreign corporation pursuant to the provisions of the Business Corporation Act, the foreign corporation may appeal to the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978.
History: 1953 Comp., § 51-31-2, enacted by Laws 1967, ch. 81, § 123; 1983, ch. 304, § 69; 1998, ch. 55, § 49; 1999, ch. 265, § 52.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Laws 2013, ch. 75, § 9 provided that as of July 1, 2013, the secretary of state, pursuant to N.M. const., Art. 11, § 19, shall assume responsibility for chartering corporations as provided by law, including the performance of the functions of the former corporations bureau of the public regulation commission, and that except for Subsection D of 53-5-8 NMSA 1978, references to the "public regulation commission", "state corporation commission" or "commission" shall be construed to be references to the secretary of state. See 8-4-7 NMSA 1978.
Compiler's notes. — This section is derived from Section 140 of the ABA Model Business Corporation Act.
Cross references. — For procedures governing administrative appeals to the district court, see Rule 1-074 NMRA.
The 1999 amendment, effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1" in Subsections A and B.
The 1998 amendment, effective September 1, 1998, rewrote this section to the extent that a detailed comparison is impracticable.
The 1983 amendment, effective June 17, 1983, substituted "fifteen working days" for "ten days" near the middle of the first sentence of Subsection A.
Law reviews. — For article, "How to Stand Still Without Really Trying: A Critique of the New Mexico Administrative Procedure Act," see 10 Nat. Res. J. 840 (1970).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 C.J.S. Corporations §§ 901, 919.
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