Any person injured by the breach of any obligation to secure which a bond is given, under the provisions of Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation or the Uniform Commercial Code, Article 7 [55-7-101 to 55-7-807 NMSA 1978] shall be entitled to sue on the bond in his own name in any court of competent jurisdiction to recover the damages he may have sustained by such breach.
History: Laws 1941, ch. 145, § 6; 1941 Comp., § 53-906; 1953 Comp., § 50-9-6; Laws 1961, ch. 96, § 11-112.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses §§ 245, 248, 267.
93 C.J.S. Warehousemen and Safe Depositaries § 75.
Structure 2021 New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 6 - Warehousing of Agricultural Products
Section 56-6-2 - [License to store agricultural products; issuance upon application; contents; fee.]
Section 56-6-3 - [Bond; filing; approval; conditions; effect of termination.]
Section 56-6-4 - [Numbering of licenses; display.]
Section 56-6-5 - [Insurance required.]
Section 56-6-6 - [Action for breach of obligation secured by bond.]
Section 56-6-7 - [Revocation of license; procedure.]
Section 56-6-8 - [Negotiable receipts to bear endorsement regarding insurance.]
Section 56-6-9 - [Issuance of receipts without complying with act; penalty.]
Section 56-6-10 - [Exemption of farmer's marketing associations.]