A. A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Paragraph (2) of Subsection A of Section 59A-44-5 NMSA 1978. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but shall not be allowed as an admitted asset of such society.
B. No society shall own or operate funeral homes or any establishments related to undertaking.
History: 1978 Comp., § 59A-44-12, enacted by Laws 1989, ch. 388, § 12.
ANNOTATIONSRepeals and reenactments. — Laws 1989, ch. 388, § 12, repealed 59A-44-12 NMSA 1978, as enacted by Laws 1984, ch. 127, § 797, relating to institutions, and enacted a new section, effective January 1, 1990.