New Mexico Statutes 5-18-9. Appointment of directors; qualifications; terms; resumption of governance by governing body
A. The governing body, at its option, may authorize the appointment of a separate district board. In the case of an appointed district board, the directors shall serve an initial term of six years. If a vacancy occurs on the district board because of death, resignation or inability of a director to discharge the duties of director, the governing body shall appoint a director to fill the vacancy, who shall hold office for the remainder of the unexpired term until the appointed director’s successor is appointed or elected.
Terms Used In New Mexico Statutes 5-18-9
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
B. At the end of the appointed director’s initial term, the governing body shall resume governance of the district as its board, or, at its option, shall hold an election of directors by majority vote of the property owners in the district, pursuant to Section 10 [5-18-10 N.M. Stat. Ann.] of the Renewable Energy Financing District Act.