New Mexico Statutes
Article 16 - Business Corporations; Dissolution of Corporations
Section 53-16-19 - Filing of claims in liquidation proceedings.

In proceedings to liquidate the assets and business of a corporation, the court may require all creditors of the corporation to file with the clerk of the court or with the receiver, in such form as the court may prescribe, proofs under oath of their respective claims. If the court requires the filing of claims, it shall fix a date, which shall be not less than four months from the date of the order, as the last day for the filing of claims, and shall prescribe the notice that shall be given to creditors and claimants of the date so fixed. Prior to the date so fixed, the court may extend the time for the filing of claims. Creditors and claimants failing to file proofs of claim on or before the date so fixed may be barred, by order of court, from participating in the distribution of the assets of the corporation.
History: 1953 Comp., § 51-29-19, enacted by Laws 1967, ch. 81, § 97.
Compiler's notes. — This section is derived from Section 100 of the ABA Model Business Corporation Act.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 19 Am. Jur. 2d Corporations §§ 2862, 2863.
19 C.J.S. Corporations § 872.

Structure New Mexico Statutes