Surety bonds accepted by the secretary as security in compliance with the provisions of Sections 7-1-54 and 7-1-55 NMSA 1978 shall be payable to the state of New Mexico upon demand by the secretary or the secretary's delegate and a showing to the surety that the principal debtor is a delinquent taxpayer. History: 1953 Comp., § 72-13-70, enacted by Laws 1965, ch. 248, § 58; 1970, ch. 15, § 1; 1975, ch. 251, § 4; 1979, ch. 144, § 51; 2001, ch. 56, § 16. ANNOTATIONSThe 2001 amendment, effective July 1, 2001, substituted 'secretary' for 'director' and 'secretary or the secretary's delegate' for 'director or his delegate'.
New Mexico Legal Code