The articles of incorporation may be altered or amended at any regular meeting or any special meeting called for that purpose. An amendment must first be approved by two-thirds of [the] directors, and then adopted by a vote representing two-thirds of all members present at such meeting. Amendments to the articles of incorporation when adopted shall be filed in the same manner as provided for the filing of the original articles.
History: Laws 1937, ch. 152, § 9; 1941 Comp., § 48-1309; 1953 Comp., § 45-14-9.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Cross references. — For filing of original articles, see 76-12-8 NMSA 1978.
For similar provision in earlier act, see Laws 1925, ch. 99, § 4.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 13.
Benefits: validity and enforceability of bylaws amendment reducing benefits available to members, 61 A.L.R.3d 976.
3 C.J.S. Agriculture § 140.
Structure New Mexico Statutes
Article 12 - Cooperative Marketing Associations
Section 76-12-1 - Short title.
Section 76-12-2 - Declaration of policy.
Section 76-12-3 - Definitions.
Section 76-12-4 - Who may organize.
Section 76-12-7 - Articles of incorporation.
Section 76-12-8 - Filing and recording articles of incorporation.
Section 76-12-9 - Amendments to articles of incorporation.
Section 76-12-12 - Issuance of membership certificates and stock.
Section 76-12-13 - General and special meeting; how called.
Section 76-12-14 - Directors; election.
Section 76-12-16 - Contracts between associations and members.
Section 76-12-17 - Associations heretofore organized may adopt the provisions of this act.
Section 76-12-18 - Associations are not in restraint of trade.
Section 76-12-19 - Quo warranto to test validity of incorporation.
Section 76-12-21 - Application of general corporation laws.