The members of the board of directors of a research park corporation, while acting within the scope of their authority, and any person acting in their behalf, while acting within the scope of the person's authority, shall not be personally liable for the corporation's obligations.
History: Laws 1989, ch. 264, § 14; 1991, ch. 220, § 3.
The 1991 amendment, effective June 14, 1991, substituted "personally liable for the corporation's obligations" for "subject to any personal liability resulting from carrying out the provisions of the University Research Park Act" at the end of the section.
Structure New Mexico Statutes
Chapter 21 - State and Private Education Institutions
Article 28 - University Research Park and Economic Development
Section 21-28-1 - Short title.
Section 21-28-2 - Research park; purpose.
Section 21-28-3 - Definitions.
Section 21-28-4 - Research park corporations; authorization; members; terms; meetings; bylaws.
Section 21-28-5 - Powers of university as related to research parks.
Section 21-28-6 - Powers of research park corporation.
Section 21-28-7 - Limitations on application of laws.
Section 21-28-8 - Issuance of revenue bonds.
Section 21-28-9 - Status of bonds.
Section 21-28-10 - Refunding bonds.
Section 21-28-11 - Trust agreements authorized.
Section 21-28-12 - Pledge of assets or revenues of research park corporation.
Section 21-28-13 - All money received from sale of bonds deemed trust funds.
Section 21-28-14 - Limitation of liability.
Section 21-28-15 - Rights of holders of bonds.
Section 21-28-16 - Legal investments; tax exemption.
Section 21-28-17 - Annual report and audit.
Section 21-28-19 - Gifts by persons, corporations, institutions and associations.
Section 21-28-20 - Conflicts of interest.
Section 21-28-21 - Dissolution of research park corporation.
Section 21-28-22 - Agreement with the state.
Section 21-28-23 - Work to conform to federal law when aided by federal appropriations.