Board members and officers; duties; budget
- Statute:
- New Mexico §47-16-7 · Article HOA (New Mexico Homeowner Association Act (NMSA 47-16-1 to 47-16-18))
- Topic:
- Governance · Board duties and budget
- Applies to:
- HOA associations
The board acts for the association except as the documents or this Act provide. Declarant-appointed officers and directors owe fiduciary care and loyalty; owner-elected ones owe ordinary and reasonable care free from any undisclosed conflict of interest. Within 90 days of election or appointment, each board member must certify in writing to the secretary that they have read the community documents and will uphold them; fail to file and they are suspended from the board until they do. Keep the certifications five years. Adopt a budget annually and send a copy to all lot owners within 30 calendar days, plus a statement of all fees and fines including the disclosure-certificate charge. A management contract must disclose vendor conflicts and list all fees charged to the association or lot owners.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Board members and officers; duties; budget
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does New Mexico §47-16-7 require?
- The board acts for the association except as the documents or this Act provide. Declarant-appointed officers and directors owe fiduciary care and loyalty; owner-elected ones owe ordinary and reasonable care free from any undisclosed conflict of interest. Within 90 days of election or appointment, each board member must certify in writing to the secretary that they have read the community documents and will uphold them; fail to file and they are suspended from the board until they do.
- Who does New Mexico §47-16-7 apply to?
- New Mexico §47-16-7 applies to HOA associations in New Mexico.
- What happens if our HOA doesn't comply with §47-16-7?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for New Mexico community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New Mexico §47-16-7?
- The official text is published by the New Mexico Legislature at nmonesource.com. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Board members and officers; duties; budget?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §47-16-7 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New Mexico-licensed attorney. For the official statutory text, see the link above.
Stay current on New Mexico association law.
Get the free quick-reference guide plus a heads-up when the statutes that govern your community change.
Don’t run your HOA on spreadsheets.
Start your community free →