Statutes > New Mexico Statutes > Chapter 56 - Commercial Instruments and Transactions. > Article 9 - Transfers to Prefer Creditors  - Voluntary Assignments, 56-9-1 through 56-9-55. > Section 56-9-23 - Old bond is valid until new bond approved.

Section 56-9-23 - Old bond is valid until new bond approved.

56-9-23. [Old bond is valid until new bond approved.]

Such bond shall be valid until such new bond be given and approved, notwithstanding its rejection by the court, and such new bond, when approved, shall relate back and operate from the date of assignment.