All persons who assume to act as a corporation without authority to do so are jointly and severally liable for all debts and liabilities incurred or arising as a result thereof.
History: 1953 Comp., § 51-31-8, enacted by Laws 1967, ch. 81, § 129.
Compiler's notes. — This section is derived from Section 146 of the ABA Model Business Corporation Act.
Law reviews. — Annual Survey of New Mexico Corporate Law, see 17 N.M.L. Rev. 253 (1987).
Structure New Mexico Statutes
Article 18 - Business Corporations; Miscellaneous Provisions
Section 53-18-1 - Powers of commission [secretary of state].
Section 53-18-2 - Appeal from commission [secretary of state].
Section 53-18-3 - Issuance of certificate of good standing and compliance.
Section 53-18-4 - Certificates and certified copies to be received in evidence.
Section 53-18-5 - Forms to be furnished by commission [secretary of state].
Section 53-18-6 - Greater voting requirements.
Section 53-18-6.1 - Voting requirements; existing corporations.
Section 53-18-7 - Waiver of notice.
Section 53-18-8 - Action by shareholders without a meeting.
Section 53-18-9 - Unauthorized assumption of corporate powers.
Section 53-18-10 - Application to existing corporations.
Section 53-18-11 - Application to foreign and interstate commerce.