Reservation of power.

  1. Law
  2. New Mexico Statutes
  3. Corporations
  4. Business Corporations; Miscellaneous Provisions
  5. Reservation of power.

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The legislature reserves power to amend, repeal or modify all or any part of the Business Corporation Act at any time and such changes shall be binding upon all corporations subject to the provisions of the Business Corporation Act.

History: 1953 Comp., § 51-31-11, enacted by Laws 1967, ch. 81, § 132.

ANNOTATIONS

Severability. — Laws 1967, ch. 81, § 134, provided for the severability of the act if any part or application thereof is held invalid.

Compiler's notes. — This section is derived from Section 149 of the ABA Model Business Corporation Act.


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