Statutes > New Mexico Statutes > Chapter 46 - Fiduciaries and Trusts. > Article 6 - Surety Bonds, 46-6-1 through 46-6-9. > Section 46-6-5 - Suits against surety companies; estoppel to deny authority.

Section 46-6-5 - Suits against surety companies; estoppel to deny authority.

46-6-5. [Suits against surety companies; estoppel to deny authority.]

That any company who shall execute or guarantee any recognizance, stipulation, bond or undertaking shall be estopped in any proceeding to enforce the liability which it shall have assumed to incur, to deny its corporate power to execute or guarantee such instrument or assume such liability.