Statutes > New Mexico Statutes > Chapter 21 - State and Private Education Institutions. > Article 21A - Educational Assistance, 21-21A-1 through 21-21A-23. > Section 21-21A-21 - Dissolution of corporation or foundation.

Section 21-21A-21 - Dissolution of corporation or foundation.

21-21A-21. Dissolution of corporation or foundation.

Upon termination or dissolution, all rights and properties of the corporation or foundation shall pass to and be vested in the state, subject to the rights of any bondholders, lienholders and other creditors.