Statutes > New Mexico Statutes > Chapter 53 - Corporations. > Article 8 - Nonprofit Corporations, 53-8-1 through 53-8-99. > Section 53-8-88 - Penalty imposed upon corporation.

Section 53-8-88 - Penalty imposed upon corporation.

53-8-88. Penalty imposed upon corporation.

Each corporation, domestic or foreign, that fails or refuses to file any report for any year within the time prescribed by the Nonprofit Corporation Act [Chapter 53, Article 8 NMSA 1978] shall be subject to a penalty of ten dollars ($10.00) to be assessed by the corporation commission [public regulation commission].