Statutes > New Mexico Statutes > Chapter 62 - Electric, Gas and Water Utilities. > Article 2 - Incorporation and Powers of Waterworks, 62-2-1 through 62-2-22. > Section 62-2-12 - Commencement of business within one year.

Section 62-2-12 - Commencement of business within one year.

62-2-12. [Commencement of business within one year.]

If any corporation formed under this article shall not organize and commence the transaction of its business within one year from the time of filing its articles of incorporation, its corporate powers shall cease.