New Mexico LLC Operating Agreement

Set out who owns your New Mexico LLC, who manages it, and how profits are split — and download a print-ready PDF. Single-member or multi-member. Free, no signup. The preview updates as you type.

Reflects current New Mexico rules · 2026 Official source linked Free PDF · no signup · nothing uploaded

Maintained by Rapi Stack · Every state-specific figure on this page is cited to its statute or official agency page · Dataset last verified 2026 · Not legal advice.

New Mexico LLC act rules · as of 2026

Required by law?: No — but strongly recommended
Recognized form: Written only — NMSA 1978, § 53-19-2(O): "'operating agreement' means a written agreement providing for the conduct of the business and affairs of a limited liability company and that agreement as amended in writing". New Mexico's statutory definition does not recognize oral or implied operating agreements.
Governing act: New Mexico Limited Liability Company Act (NMSA 1978, §§ 53-19-1 to 53-19-74)

Without an agreement: If neither the articles of organization nor an operating agreement provides for allocation, profits and losses "shall be allocated among the members in proportion to the value of their respective contributions to capital, adjusted to reflect all withdrawals from capital" — NMSA 1978, § 53-19-22. Source: NMSA 1978, § 53-19-2(O) (definition) · verify ↗.

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Why your New Mexico LLC needs this — even single-member

It overrides the default rules. Without an agreement, the New Mexico Limited Liability Company Act (NMSA 1978, §§ 53-19-1 to 53-19-74) decides how profits are split and who can act for the company — not you.
It protects limited liability. A written agreement is core evidence that the LLC is a real, separate entity.
Banks and lenders ask for it. Opening a business account or getting a loan routinely requires it.

New Mexico law

No — New Mexico does not require an operating agreement (as of 2026): Not required. The act operates whether or not members adopt one; statutory defaults apply when the articles of organization and any operating agreement are silent.. But without one, the default rules of the New Mexico Limited Liability Company Act (NMSA 1978, §§ 53-19-1 to 53-19-74) decide ownership, management, and profit questions for you — which is why one is strongly recommended even for single-member LLCs. Source: NMSA 1978, § 53-19-2(O) (definition). Check the current New Mexico LLC rules before relying on any default.

Frequently asked questions

Is an operating agreement required in New Mexico?

Does the operating agreement get filed with the state?

No. Unlike the formation certificate (articles of organization), the operating agreement is an internal document — you sign it, keep it with your records, and give each member a copy. Banks, lenders, and courts may ask to see it, but no New Mexico agency records it.

Can the agreement be oral in New Mexico?

New Mexico's statute recognizes: Written only — NMSA 1978, § 53-19-2(O): "'operating agreement' means a written agreement providing for the conduct of the business and affairs of a limited liability company and that agreement as amended in writing". New Mexico's statutory definition does not recognize oral or implied operating agreements. (NMSA 1978, § 53-19-2(O) (definition)). Even where oral or implied agreements count, put yours in writing — proving an oral term in a dispute between members is exactly the fight the document exists to prevent.

How does New Mexico compare? See which states actually require an operating agreement, every claim cited to the state LLC act.

How New Mexico compares

Computed from our 51-jurisdiction dataset (as of 2026). Source for New Mexico: NMSA 1978, § 53-19-2(O) (definition) ↗.

New Mexico is one of 47 of 51 jurisdictions that leave the operating agreement optional (statutory default rules apply without one) (4 require an LLC to have an operating agreement).

The rest of what New Mexico requires

The figures below are New Mexico's, not national averages — each one is the value we verified for this state, with the statute it comes from. Follow a row to the full New Mexico page for that document.

Security deposit cap · as of 2026: 1 month's rent (leases under 1 yr; no cap on longer) N.M. Stat. §47-8-18 ↗
Deposit return deadline · as of 2026: 30 days after move-out N.M. Stat. §47-8-18 ↗
Notice to end a month-to-month tenancy · as of 2026: 30 days N.M. Stat. §47-8-18 ↗
Notice for unpaid rent · as of 2026: 3 days to pay or quit N.M. Stat. Ann. § 47-8-33; § 47-8-37 ↗
Notice to cure a lease violation · as of 2026: 7 days N.M. Stat. Ann. § 47-8-33; § 47-8-37 ↗
Small claims limit · as of 2026: $10,000 NMSA 1978 § 35-3-3 (Magistrate Court); NMSA 1978 § 34-8A-3 (Metropolitan Court) ↗
Where you file · as of 2026: Magistrate Court (Bernalillo County Metropolitan Court in Albuquerque) · filing fee $77 civil filing fee in Bernalillo County Metropolitan Court (metro.nmcourts.gov); magistrate courts charge approximately the same — secondary sources report $77–$87 statewide NMSA 1978 § 35-3-3 (Magistrate Court); NMSA 1978 § 34-8A-3 (Metropolitan Court) ↗
Rental application fee · as of July 2026: Capped at $50 screening fee (eff. 9/20/2025) New Mexico Legislature ↗
Bill of sale notarization · as of 2026: Not required New Mexico MVD (Form MVD-10009) ↗
Power of attorney signing · as of 2026: Notarization recommended N.M. Stat. §45-5B-105 (form §45-5B-301) ↗
Recording a deed · as of 2026: County Clerk · no witnesses NMSA 1978, § 14-8-4 ↗

LLC operating agreement in other states

More New Mexico legal forms

Different state? See LLC operating agreements by state →