New Mexico Statutes 72-6-2. Definitions
Current as of: 2024 | Check for updates
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As used in the Water-Use Leasing Act:
Terms Used In New Mexico Statutes 72-6-2
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A. “owner” means a person who owns a valid water right;
B. “lessee” means a person who leases the use of water from an owner;
C. “person” means the state or any agency, institution or political subdivision thereof, any public or private corporation, individual, partnership, association or other entity, and includes any officer or governing or managing body of any political subdivision or public or private corporation; and
D. “engineer” means the state engineer as appointed in Section 72-2-1 N.M. Stat. Ann..