HOUSE BILL 472

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Brian F. Egolf

AN ACT

RELATING TO CORPORATIONS; CLARIFYING THE LIMITED LIABILITY COMPANY ACT TO PROVIDE THAT ATTORNEYS AT LAW MAY FORM A LIMITED LIABILITY COMPANY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 53-19-6 NMSA 1978 (being Laws 1993, Chapter 280, Section 6) is amended to read:

     "53-19-6. NATURE AND DURATION OF BUSINESS.--A limited liability company may conduct or promote any lawful business or purpose, including the practice of law or operation of a law firm. If the purpose for which a limited liability company is organized makes it subject to provisions of other laws, the limited liability company shall also be subject to such provisions. The duration of existence of a limited liability company may be perpetual or may be limited to a definite term or until completion of a particular undertaking."

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