Any dealer in new or used aircraft, or both, who holds such aircraft for resale and operates them primarily for purposes incident to a resale, or owner or lessee of specialized-use aircraft, may apply to the division for a dealer's or a specialized-use license. Upon such application, the division shall issue an aircraft dealer's or a specialized-use license to the applicant for an annual fee of fifty dollars ($50.00). The dealer's or the specialized-use license shall be in lieu of all other licenses and personal property taxes upon such aircraft owned or held for resale by the dealer or specialized-use operator within this state so long as they are kept for specialized use or for resale. This does not prohibit the registering of all such aircraft as otherwise provided in the Aircraft Registration Act.
History: 1953 Comp., § 44-5-12, enacted by Laws 1965, ch. 122, § 12; 1970, ch. 50, § 9; 1977, ch. 250, § 30.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 8A Am. Jur. 2d Aviation §§ 31, 32.
2A C.J.S. Aeronautics and Aerospace § 25.
Structure New Mexico Statutes
Article 4 - Registration of Aircraft
Section 64-4-2 - Purpose of act.
Section 64-4-4 - Aircraft registration.
Section 64-4-5 - Time of registration; penalty.
Section 64-4-5.1 - Unpaid registration fees; lien; hearing; seizure.
Section 64-4-6 - Action on application.
Section 64-4-7 - Division duties.
Section 64-4-8 - Rules and regulations.
Section 64-4-9 - Duplicate certificates.
Section 64-4-10 - Transfer of registration.
Section 64-4-11 - Registration fees.
Section 64-4-12 - Aircraft dealer's and specialized-use license.
Section 64-4-13 - Fraudulent applications.