N.M. Admin. Code § 19.2.13.14
Current through Register Vol. 35, No. 23, December 10, 2024
The highest and successful bidder shall sign the regular New Mexico state land office timber agreement form, as may be amended or changed in the best interest of the trust. Before the commissioner executes the contract, the successful bidder shall post a corporate surety bond (in such an amount as may be required by the commissioner) countersigned by an authorized New Mexico resident agent of a bonding company authorized to do business in the state of New Mexico. Such bond shall be conditioned upon faithful performance by the purchaser of the terms and provisions of the timber sale contract.
N.M. Admin. Code § 19.2.13.14