A. If the original warrant, draft, check or order has not cleared the treasury of the state or the fiscal agent of any political subdivision of the state and a stop payment has been filed with the treasury or with the fiscal agent by the officer before any duplicate is issued as provided in Section 6-10-59 NMSA 1978, the party applying for the duplicate shall file with the officer an affidavit which shall state that the original warrant, draft, check or order has been lost or destroyed or was never received.

B. If the original warrant, draft, check or order has been paid by the treasurer before any duplicate is issued as provided in Section 6-10-59 NMSA 1978, the party applying for the duplicate shall file with the officer a bond payable to the state or political subdivision, as the case may be in a penalty in the amount of the original warrant, draft, check or order conditioned to save harmless the state or political subdivision from all loss in consequence of the loss of the original warrant, draft, check or order, and the issuing of the duplicate, if the loss to the state or political subdivision is a result of the fraud or negligence of the original payee or a holder in due course. If the bond is a personal surety bond, it shall be sufficient if:

(1) there is one surety for each bond for one hundred dollars ($100) and under, and there are two sureties for each bond over one hundred dollars ($100); no surety for any of these bonds may be proprietor as surety for his proprietorship or partner as surety for his partnership as principal; and

(2) each surety swears in writing that he owns real property in New Mexico having a net value equal to the amount of the bond, and that this net value is not exempt from execution and forced sale over and above all his just debts and liabilities.

History: 1953 Comp., § 11-2-46, enacted by Laws 1977, ch. 69, § 1.

Repeals and reenactments. — Laws 1977, ch. 69, § 1, repealed 11-2-46, 1953 Comp., relating to issuance of duplicates and bond to save state or political subdivision harmless, and enacted the above section.

Applicant for duplicate must file bond. — If the last holder of the warrant is the party applying for issuance of the duplicate, the law provides that the party so applying is the one upon whom falls the burden of filing a satisfactory bond. 1953 Op. Att'y Gen. No. 53-5789.

Bond mandatory before duplicate issued. — The word "shall" is mandatory. Therefore, before a duplicate warrant, draft, check or order is issued by the state or a political subdivision thereof, the party applying for the duplicate must file a bond meeting the requirements of this section. 1968 Op. Att'y Gen. No. 68-39.

Bond not required of federal government. — Nothing in this section indicates an intention to include the federal government within its purview. Requirement of a bond from the United States government in these circumstances directly affects the relationship between this state and the federal government. In this area, general policy dictates that everything possible should be done to avert the placing of burdens by one upon the other. 1956 Op. Att'y Gen. No. 56-6450.