Securities voidable unless approved.

  1. Law
  2. New Mexico Statutes
  3. Electric, Gas and Water Utilities
  4. Powers and Duties of Commission
  5. Securities voidable unless approved.

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All securities issued, assumed or guaranteed without application to and approval of the commission, except the securities mentioned in Sections 62-6-8 and 62-6-8.1 NMSA 1978, are voidable with the consent of the commission.

History: Laws 1941, ch. 84, § 23; 1941 Comp., § 72-511; 1953 Comp., § 68-5-11; Laws 1979, ch. 50, § 2; 2005, ch. 339, § 3.

ANNOTATIONS

The 2005 amendment, effective July 1, 2005, deleted the former provision that securities are void and provides that securities are voidable with the consent of the commission.


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