Section 53-8-70 - Effect of [certificate of] authority.
53-8-70. Effect of [certificate of] authority.
Unless the corporation commission [public regulation commission] disapproves pursuant to Subsection A of Section 53-8-91 NMSA 1978, upon delivery of the application for a certificate of authority to the corporation commission [public regulation commission], the corporation shall be authorized to conduct affairs in New Mexico for those purposes set forth in its application, subject, however, to the right of this state to suspend or to revoke such authority as provided in the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978].