N.M. Stat. » Chapter 53 — Corporations
New Mexico Statutes

N.M. Stat. § 53-8-4 (2026)

Purposes

✓ current as of May 2026
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Corporations may be organized under the Nonprofit Corporation Act for any lawful purpose or purposes, including, without being limited to, any one or more of the following purposes: charitable; benevolent; eleemosynary; educational; civic; patriotic; political; religious; social; fraternal; literary; cultural; athletic; scientific; agricultural; horticultural; animal husbandry; and professional, commercial, industrial or trade association.

History: 1953 Comp., § 51-14-46, enacted by Laws 1975, ch. 217, § 4.

ANNOTATIONS

Prepaid group visual care program. — It would be legal to organize a nonprofit organization for a prepaid group visual care program under the laws of the state of New Mexico, despite the fact that no specific authorization has as yet been granted by way of legislative enactment. 1959 Op. Att'y Gen. No. 59-156 (rendered under former law).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 15 Am. Jur. 2d Charities § 171, 173, 174, 176; 18A Am. Jur. 2d Corporations §§ 194, 195.

Implied power of corporation belonging to one of the three classes, religious, charitable or educational, to promote, or to accept gifts for, objects which more appropriately pertain to the purposes of those in one of the other classes, 121 A.L.R. 1526.

Nonprofit purposes and character which warrant creation of nonprofit corporation, 16 A.L.R.2d 1345.

10 C.J.S. Beneficial Associations § 7; 18 C.J.S. Corporations § 28.

Notes of Decisions
Cited in 1 case, 2002–2002 · leading case: Saylor v. Valles, 2003-NMCA-037, 63 P.3d 1152.
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Saylor v. Valles, 2003-NMCA-037, 63 P.3d 1152. “§ 53-8-4. The complaint does not allege that either the Neighborhood Association Defendants or the Individual Defendants sell, lease, rent or loan goods or services or are engaged in “trade” or “commerce” as defined in Section 57-12-2.”
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