Definitions
- Statute:
- New Mexico §53-8-2 · Article NP (New Mexico Nonprofit Corporation Act (NMSA Chapter 53 Article 8))
- Topic:
- Definitions · Glossary
- Applies to:
- Nonprofit associations
Defines nonprofit corporation (no part of income or profit distributable to members, directors, or officers), member, board of directors, articles, bylaws, and the other corporate words this Act uses. In an HOA, membership is typically automatic with lot ownership under the declaration.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Definitions
SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model.
See the feature → Start freeFrequently asked
- What does New Mexico §53-8-2 require?
- Defines nonprofit corporation (no part of income or profit distributable to members, directors, or officers), member, board of directors, articles, bylaws, and the other corporate words this Act uses. In an HOA, membership is typically automatic with lot ownership under the declaration.
- Who does New Mexico §53-8-2 apply to?
- New Mexico §53-8-2 applies to Nonprofit associations in New Mexico.
- What happens if our nonprofit corporation doesn't comply with §53-8-2?
- 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 §53-8-2?
- 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 Definitions?
- SoShiny implements these statutory definitions across the platform — when a section refers to "unit owner," "member," "voting interest," or "official record," SoShiny uses the same definition in the data model. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §53-8-2 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.
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