New Mexico Statutes 60-13-51. Contractor’s bond; municipal requirement prohibited
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No municipality shall require any person or corporation licensed under the provisions of the Construction Industries Licensing Act to file or obtain as a condition of doing business as a licensed contractor within the municipality any additional license bond as proof of responsibility if the person or corporation has met the responsibility requirements of the commission.
Terms Used In New Mexico Statutes 60-13-51
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.