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New Mexico Corporate Bylaws Template

New Mexico corporate bylaws are provisions set in place by a corporation's board of directors to govern the entity's internal structure and management policies. The bylaws should identify the board members and describe their rights, responsibilities, qualifications, and terms of membership.
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Updated June 10, 2024

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Laws

  • Annual Meetings – The initial bylaws of a corporation must be adopted by its board of directors. The power to alter, amend, or repeal the bylaws or adopt new bylaws shall be vested in the board of directors unless reserved to the shareholders by the articles of incorporation.[2]
  • Corporate Bylaws – The directors or incorporators must adopt the initial set of bylaws, with business-related provisions in accordance with state law and the articles of incorporation.[3]
  • Issuance of Stock – Subject to any restrictions in the articles of incorporation, shares may be issued for consideration as authorized by the board of directors.[4]

Sources

  1. § 53-11-27
  2. § 53-11-28(B)
  3. § 53-11-27
  4. § 53-11-18