Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 3436 Criminal Penalties
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3436. Criminal Penalties. (a) Whenever, by reason of an investigation under section 3431 of this Act or otherwise, the Board has reason to believe that any person or firm has knowingly engaged in acts or practic…
4 CMC § 3437 Single Act Evidence of Practice
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3437. Single Act Evidence of Practice. In any action brought under sections 3432, 3435, or 3436 of this Act, evidence of the commission of a single act prohibited by this Act shall be sufficient to justify a pen…
4 CMC § 3438 Privity of Contract
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3438. Privity of Contract. (a) This section applies to all causes of action of the type specified herein filed on or after the effective date. (b) This section governs any action based on negligence brought agai…
4 CMC § 3439 Uniform Statute of Limitations
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3439. Uniform Statute of Limitations. (a) This section applies to all causes of action of the type specified herein filed on or after the effective date. (b) This section governs any action based on negligence o…
4 CMC § 3440 Proportionate Liability
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3440. Proportionate Liability. (a) This section applies to all causes of action of the type specified herein filed on or after the effective date. (b) This section governs any claim for money damages brought aga…
4 CMC § 4321 Corporate Name
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4321. Corporate Name. (a) A corporate name: (1) Must contain the word “corporation,” “incorporated,” “company,” or “limited,” or the abbreviation “corp.,” “inc.,” “co.,” or “ltd.,” or words or a…
4 CMC § 4322 Reserved Name
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4322. Reserved Name. (a) A person may reserve the exclusive use of a corporate name, including a fictitious name for a foreign corporation whose corporate name is not available, by delivering an…
4 CMC § 4323 Registered Name
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4323. Registered Name. (a) A foreign corporation may register its corporate name, or its corporate name with any addition required by 4 CMC § 4646, if the name is distinguishable upon the record…
4 CMC § 4851 Form of Contribution
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4851. Form of Contribution. A contribution of a member of a limited liability company may consist of tangible or intangible property or other benefit to the company, including money, promissory …
4 CMC § 4852 Member's Liability for Contributions
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4852. Member’s Liability for Contributions. (a) A member’s obligation to contribute money, property, or other benefit to, or to perform services for, a limited liability company is not excused b…
4 CMC § 4853 Member's and Manager's Rights to Payments and Reimbursement
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4853. Member’s and Manager’s Rights to Payments and Reimbursement. (a) A limited liability company shall reimburse a member or manager for payments made and indemnify a member or manager for lia…
4 CMC § 4854 Management of Limited Liability Company
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4854. Management of Limited Liability Company. (a) In a member-managed company: (1) Each member has equal rights in the management and conduct of the company’s business; and (2) Except as otherw…
4 CMC § 4855 Sharing of and Right to Distributions
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4855. Sharing of and Right to Distributions. (a) Any distributions made by a limited liability company before its dissolution and winding up must be in equal shares. (b) A member has no right to…
4 CMC § 4856 Limitations on Distributions
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4856. Limitations on Distributions. (a) A distribution may not be made if: (1) The limited liability company would not be able to pay its debts as they become due in the ordinary course of busin…
4 CMC § 4857 Liability for Unlawful Distributions
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4857. Liability for Unlawful Distributions. (a) A member of a member-managed company or a member or manager of a manager-managed company who votes for or assents to a distribution made in violat…
4 CMC § 4858 Member's Right to Information
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4858. Member’s Right to Information. (a) A limited liability company shall provide members and their agents and attorneys access to its records, if any, at the company’s principal office or othe…
4 CMC § 4859 General Standards of Member's and Manager's Conduct
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4859. General Standards of Member’s and Manager’s Conduct. (a) The only fiduciary duties a member owes to a member-managed company and its other members are the duty of loyalty and the duty of c…
4 CMC § 4860 Actions by Members
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4860. Actions by Members. (a) A member may maintain an action against a limited liability company or another member for legal or equitable relief, with or without an accounting as to the company…
4 CMC § 4861 Continuation of Term Company After Expiration of Specified Term
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4861. Continuation of Term Company After Expiration of Specified Term. (a) If a term company is continued after the expiration of the specified term, the rights and duties of the members and man…
4 CMC § 5411 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5411. Definitions. When used in this chapter: (a) “Commodity in package form” means a commodity put up or packaged in any manner in advance of sale in units suitable for either wholesale or retail sale, exclusive, howe…
4 CMC § 5412 System of Weights and Measures
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5412. System of Weights and Measures. The system of weights and measures in customary use in the United States and the metric system of weights and measures are jointly recognized, and one or the other of these systems…
4 CMC § 5413 Definitions of Special Units of Measure
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5413. Definitions of Special Units of Measure. (a) “Barrel,” when used in connection with fermented liquor, means a unit of 31 gallons. (b) “Cord,” when used in connection with wood intended for fuel purposes, means th…
4 CMC § 5414 Standards of Weight and Measure
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5414. Standards of Weight and Measure. Such weights and measures in conformity with the standards of the United States as have been supplied to the Commonwealth for use as standards shall, upon being certified as satis…
4 CMC § 5415 Field Standards and Equipment
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5415. Field Standards and Equipment. In addition to the standards provided for in 4 CMC § 5414, the Governor shall supply such field standards and equipment as may be found necessary to carry out this chapter. The fiel…
4 CMC § 5421 Governor: Power and Duties
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5421. Governor: Power and Duties. The Governor shall have custody of the standards of weights and measures and other equipment provided for by this chapter, shall keep accurate records of the same, and shall enforce th…
4 CMC § 5422 Governor: Specific Powers and Duties; Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5422. Governor: Specific Powers and Duties; Regulations. (a) The Governor shall issue reasonable regulations for the enforcement of this chapter, which regulations shall have the force and effect of law. (b) These regu…
4 CMC § 5423 General Testing
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5423. General Testing. (a) When not otherwise provided by law, the Governor may inspect and test, to ascertain if they are correct, all weights and measures kept, offered, or exposed for sale. The Governor shall, at le…
4 CMC § 5424 Investigations
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5424. Investigations. The Governor shall investigate complaints concerning violations of this chapter, and may, upon the Governor’s own initiative, conduct such investigations as are deemed appropriate and advisable to…
4 CMC § 5425 Inspection of Packages
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5425. Inspection of Packages. (a) The Governor shall, from time to time, weigh or measure and inspect packages or amounts of commodities kept, offered, or exposed for sale, sold, or in the process of delivery to determ…
4 CMC § 5426 Stop-Use, Stop-Removal, and Removal Orders
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5426. Stop-Use, Stop-Removal, and Removal Orders. (a) The Governor may issue stop-use orders, stop-removal orders, and removal orders with respect to weights and measures being commercially used, and issue stop-removal…
4 CMC § 5427 Disposition of Correct and Incorrect Apparatus
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5427. Disposition of Correct and Incorrect Apparatus. The Governor shall approve for use and seal or mark with appropriate devices such weights and measures as the Governor finds upon inspection and test to be “correct…
4 CMC § 5428 Right of Entry and Inspection
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5428. Right of Entry and Inspection. In performance of official duties, the Governor may enter and go into or upon, at any reasonable time, without formal warrant, any structure or premise, or any other place where com…
4 CMC § 5429 Delegation of Power and Duties
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5429. Delegation of Power and Duties. The Governor may delegate any of his powers and duties as the Governor deems necessary and proper to carry out this chapter. Source: DL 5-20, § 14. Commission Comment: See the comm…
4 CMC § 5430 Duties of Owners of Incorrect Apparatus
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5430. Duties of Owners of Incorrect Apparatus. Weights and measures that have been rejected under authority of the Governor shall remain subject to the control of the rejecting authority until such time as suitable rep…
4 CMC § 5431 Hindering or Obstructing Officer; Penalties
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5431. Hindering or Obstructing Officer; Penalties. Any person who hinders or obstructs any person in any way in the performance of his or her official duties under this chapter shall be guilty of a misdemeanor, and upo…
4 CMC § 5432 Offenses and Penalties
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5432. Offenses and Penalties. Any person who, personally or by a servant or agent, or as the servant or agent of another person, performs any of the acts enumerated in subsections (a) through (i) of this section shall …
4 CMC § 5433 Injunction
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5433. Injunction. In addition to any other remedy provided by law, the Governor may apply to the Commonwealth Trial Court for, and the court upon hearing, and for cause shown may grant, a temporary or permanent injunct…
4 CMC § 5441 Metric System Authorized; Conversion Tables
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5441. Metric System Authorized; Conversion Tables. The metric system of measurement of lengths and areas may be employed within the Commonwealth. No contract or dealing, or pleading in any court shall be deemed invalid…
4 CMC § 5442 Markers: Payment
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5442. Markers: Payment. The Chief of Lands and Surveys shall collect and deposit with the Commonwealth Treasurer the reasonable cost of land markers furnished by the Department of Natural Resources. Source: 57 TTC § 25…
4 CMC § 5443 Markers: Removal
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TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5443. Markers: Removal. (a) It is unlawful for any person to willfully and maliciously deface, alter or remove any marker, monument or reference point which marks or determines the configuration or contour of any lot o…
4 CMC § 6411 Required Reports
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6411. Required Reports. (a) Annual Report. The director may examine the condition of any bank conducting banking business from within the Commonwealth at any time. Each bank shall annually submit consoli…
4 CMC § 6412 Notice of Sale of Stock
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6412. Notice of Sale of Stock. Every bank shall within 60 days notify the director of any sale or transfer of 10 percent or more of the voting stock in the bank and shall provide the information required…
4 CMC § 6413 Audit Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6413. Audit Fees. The director shall charge an examination fee based on cost per hour per examiner and other related reasonable expenses for any banks examined by the director or his staff. These fees sh…
4 CMC § 6414 Powers and Duties of Director in Connection with Examinations
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6414. Powers and Duties of Director in Connection with Examinations. (a) In the performance of his functions under this law and subject to the provisions of subsection (b) of this section, the director s…
4 CMC § 6415 Penalties for Violation of 4 CMC §§ 6411-6414
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6415. Penalties for Violation of 4 CMC §§ 6411-6414. Any person who knowingly and wilfully fails to comply with any requirement of 4 CMC §§ 6411 through 6414 may be found guilty of a misdemeanor punishab…
4 CMC § 6416 Preservation of Bank Records
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6416. Preservation of Bank Records. (a) Every bank shall retain its business records for such periods as are or may be prescribed by or in accordance with the terms of this section. (b) Each bank shall r…
4 CMC § 6451 Confidentiality of Information
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6451. Confidentiality of Information. All information not required to be published elsewhere by any other authority to whose jurisdiction a licensee shall be subject, and all information other than that …
4 CMC § 6452 Disclosure by the Director
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6452. Disclosure by the Director. The director shall make the following disclosure of information supplied to it by an applicant or a licensee: (a) The annual audited financial statements of each bank by…
4 CMC § 6453 Right to Privacy
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6453. Right to Privacy. The right to privacy and the right to financial privacy protected by the Covenant, incorporating the terms of Constitution of the United States, and N.M.I. Const. art. I, § 10, of…
4 CMC § 6454 Financial Privacy Act Adopted
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TITLE 4: ECONOMIC RESOURCES DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS § 6454. Financial Privacy Act Adopted. (a) Financial Privacy Act Adopted. The United States Right to Financial Privacy Act of 1978 (12 U.S.C. §§ 3401 et seq.), is adopted as a statute of the Commonwealth i…