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New Mexico Statutes Chapter 73. Special Districts § 73-27-8. Acceptance of assets and liabilities of existing water service providers; acquisition of water rights

Current as of January 01, 2024 | Updated by Findlaw Staff

A. The authority may accept a transfer of assets and liabilities upon the request, and following the legal dissolution, of an entity that is listed below or formed pursuant to one of the following statutes and that provides water service, subject to any other statutory requirements for such dissolution and transfer:

(1) the Water and Sanitation District Act  1;

(2) a water and natural gas association formed pursuant to Sections 3-28-1 through 3-28-22 NMSA 1978;

(3) a water users' association formed pursuant to Sections 73-5-1 through 73-5-9 NMSA 1978;

(4) the Nonprofit Corporation Act  2;

(5) the Public Improvement District Act  3;

(6) a corporation formed pursuant to Sections 62-2-1 through 62-2-22 NMSA 1978, the Business Corporation Act  4 or the Cooperative Association Act  5; or

(7) an association or mutual domestic water consumers association organized pursuant to Laws 1947, Chapter 206, Laws 1949, Chapter 79 or Laws 1951, Chapter 52, as well as any association organized under the provisions of the Sanitary Projects Act  6.

B. Upon the transfer of the assets and liabilities of an entity listed in Subsection A of this section to the authority, the area within the boundaries of the authority serviced by the dissolved entity shall become part of the authority's service area.

C. When a water right is included in the assets and liabilities of an entity listed in Subsection A of this section that are transferred to the authority, or upon the acquisition of a water right by the authority, the authority shall file a change of ownership form with the state engineer and shall apply to the state engineer to combine and commingle the transferred or acquired water right with the authority's existing water rights and contract rights to water.

1 NMSA 1978, § 73-21-1 et seq.
2 NMSA 1978, § 53-8-1 et seq.
3 NMSA 1978, § 5-11-1 et seq.
4 NMSA 1978, § 53-11-1 et seq.
5 NMSA 1978, § 53-4-1 et seq.
6 NMSA 1978, § 3-29-1 et seq.
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Cite this article: FindLaw.com - New Mexico Statutes Chapter 73. Special Districts § 73-27-8. Acceptance of assets and liabilities of existing water service providers; acquisition of water rights - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-73-special-districts/nm-st-sect-73-27-8/

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