N.M. Stat. § 53-11-46
Liability of directors in certain cases.
A. In addition to any other liabilities, a director who votes for or assents to any
distribution contrary to the provisions of the Business Corporation Act or contrary to any
restrictions contained in the articles of incorporation shall, unless the director complies
with the standard provided in the Business Corporation Act for the performance of the
duties of directors, be liable to the corporation, jointly and severally with all other
directors so voting or assenting, for the amount of the dividend which is paid or the
value of the distribution in excess of the amount of the distribution which could have
been made without a violation of the provisions of the Business Corporation Act or the
restrictions in the articles of incorporation.
B. Any director against whom a claim is asserted under this section for the making
of a distribution and who shall be held liable thereon, shall be entitled to contribution
from the shareholders who accepted or received any such distribution, knowing the
distribution to have been made in violation of the Business Corporation Act, in
proportion to the amounts received by them.
C. Any director against whom a claim shall be asserted under or pursuant to this
section shall be entitled to contribution from any other director who voted for or
assented to the action upon which the claim is asserted and who did not comply with
the standard provided in the Business Corporation Act for the performance of the duties
of directors.