New Mexico Statutes 46-6-4. [Surety companies; failure to pay judgment; forfeiture of right to do business.]
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That if any company authorized to do business in this state shall neglect or refuse to pay any final judgment or decree rendered against it upon any such recognizance, stipulation, bond or undertaking made or guaranteed by it under the provisions of Sections 46-6-1, 46-6-2 or 46-6-3 N.M. Stat. Ann., from which no appeal, writ of error or supersedeas has been taken, for thirty days after the rendition of such judgment or decree, it shall forfeit all right to do business.
Terms Used In New Mexico Statutes 46-6-4
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.