N.M. Stat. § 53-11-34
Voting trusts and agreements among shareholders.
A. Any number of shareholders of a corporation may create a voting trust for the
purpose of conferring upon a trustee or trustees the right to vote or otherwise represent
their shares, for a period not to exceed ten years, by entering into a written voting trust
agreement specifying the terms and conditions of the voting trust, by depositing a
counterpart of the agreement with the corporation at its registered office, and by
transferring their shares to the trustee or trustees for the purposes of the agreement.
The trustee or trustees shall keep a record of the holders of voting trust certificates
evidencing a beneficial interest in the voting trust, giving the names and addresses of all
such holders and the number and class of the shares in respect of which the voting trust
certificates held by each are issued, and shall deposit a copy of such record with the
corporation at its registered office. Failure to keep or deposit the record as required by
this subsection does not affect the validity of the agreement or any action taken
pursuant to it. Any trustee or trustees who fail to keep or deposit the record as required
is liable to any holder of a voting trust certificate suffering damage on account of the
failure to the extent of the damage. The counterpart of the voting trust agreement
deposited with the corporation shall be subject to the same right of examination by a
shareholder of the corporation, in person or by agent or attorney, as are the books and
records of the corporation, and shall be subject to examination by any holder of record
of voting trust certificates, either in person or by agent or attorney, at any reasonable
time for any proper purpose.
B. Agreements among shareholders regarding the voting of their shares, which
agreements are not voting trusts or purported voting trusts, shall not be subject to the
provisions of Subsection A of this section and shall be valid and specifically
enforceable.