That no sale, mortgage, lease or other disposition of the unallotted and unappropriated lands within the grant, authorized under the provisions of this article, nor any confirmation or conveyance, as provided in Section 49-5-8 NMSA 1978, shall take effect or become operative until after the regular meeting of the board of trustees held next after the meeting at which the resolution authorizing such sale, mortgage, leasing confirmation, conveyance or other disposition of the lands involved is passed, and the corporation shall not be bound by any such resolution unless the same shall have been passed at a regular meeting of the board and by a majority vote of all the members of the board.
History: Laws 1905, ch. 21, § 9; Code 1915, § 826; C.S. 1929, § 29-309; 1941 Comp., § 9-509; 1953 Comp., § 8-5-9.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Structure 2021 New Mexico Statutes
Article 5 - Dona Ana County Grants
Section 49-5-1 - [Management vested in boards of trustees; exception.]
Section 49-5-2 - [Corporate powers; name; process.]
Section 49-5-3 - [Qualifications of trustees.]
Section 49-5-4 - [First election of trustees; notice.]
Section 49-5-5 - [Election of successors; notice; judges.]
Section 49-5-6 - Election; electors; canvassing returns; oath.
Section 49-5-7 - [Officers; duties; secretary-treasurer's bond; compensation.]
Section 49-5-8 - [General powers of board.]
Section 49-5-9 - [Disposition of lands; authorization.]
Section 49-5-10 - [Meetings of board; quorum; vacancies; expenditures.]