A. If any state fair commissioner changes his residence to any place outside the state, such change of residence shall operate ipso facto to vacate the office he holds.
B. The secretary and treasurer shall qualify by furnishing the commission with a good and sufficient bond pursuant to the Surety Bond Act [10-2-13 to 10-2-16 NMSA 1978], conditioned for the faithful performance of his duties as secretary and treasurer and that he will faithfully account for and pay over to the person entitled thereto all money that comes into his hands as such officer. The secretary and treasurer shall hold office for a period of one year and until his successor is elected and qualified.
History: Laws 1913, ch. 46, § 3; Code 1915, § 5007; C.S. 1929, § 127-103; 1941 Comp., § 48-2103; 1953 Comp., § 45-20-3; 1994, ch. 143, § 5.
ANNOTATIONSCross references. — For corporations authorized to issue surety bonds, see 46-6-1 NMSA 1978 et seq.
The 1994 amendment, effective July 1, 1994, added the section heading; subdivided the section; in Subsection A, inserted "state fair" and made stylistic changes; and, in Subsection B, substituted "pursuant to the Surety Bond Act" for "in the sum of twenty thousand dollars in some surety company authorized to do business in this state", deleted "which said bond shall be filed with the secretary of state" following "officer" at the end of the first sentence, and made stylistic changes.