Foreign corporations which are authorized to transact business in this state at the time the Business Corporation Act takes effect, for a purpose or purposes for which a corporation might secure such authority under the Business Corporation Act, shall, subject to the limitations set forth in their respective certificates of authority, be entitled to all the rights and privileges applicable to foreign corporations procuring certificates of authority to transact business in this state under the Business Corporation Act, and from the time the Business Corporation Act takes effect, the corporations are subject to all the limitations, restrictions, liabilities and duties prescribed in the Business Corporation Act for foreign corporations procuring certificates of authority to transact business in this state under the Business Corporation Act.
History: 1953 Comp., § 51-30-18, enacted by Laws 1967, ch. 81, § 120.
Compiler's notes. — This section is derived from Section 123 of the ABA Model Business Corporation Act.
Structure New Mexico Statutes
Article 17 - Business Corporations; Foreign Corporations
Section 53-17-1 - Admission of foreign corporation.
Section 53-17-2 - Powers of foreign corporation.
Section 53-17-3 - Corporate name of foreign corporation.
Section 53-17-4 - Change of name by foreign corporation.
Section 53-17-5 - Application for certificate of authority.
Section 53-17-6 - Filing of application for certificate of authority.
Section 53-17-7 - Application for readmission.
Section 53-17-8 - Effect of [certificate of] authority.
Section 53-17-9 - Registered office and registered agent of foreign corporation.
Section 53-17-10 - Change of registered office or registered agent of foreign corporation.
Section 53-17-11 - Service of process on foreign corporation.
Section 53-17-14 - Amended certificate of authority.
Section 53-17-15 - Withdrawal of foreign corporation.
Section 53-17-16 - Filing of application for withdrawal.
Section 53-17-17 - Revocation of certificate of authority.
Section 53-17-18 - Issuance of certificate of revocation; reinstatement.
Section 53-17-20 - Transacting business without certificate of authority.