N.M. Stat. § 53-19-20
Contributions to capital; certificates of membership
interest.
A. A membership interest in a limited liability company may be issued in exchange
for a contribution of cash or property received by the limited liability company or
services rendered to the limited liability company, the value of which shall be
established and recorded as of the date the contribution was made by the persons in
whom management of the limited liability company is vested. If permitted by the articles
of organization or an operating agreement, a membership interest in a limited liability
company may be issued in exchange for such member's promissory note or other
written promise to contribute cash or property or perform services, the value of which
shall be determined by the persons in whom management of the limited liability
company is vested.
B. The articles of organization or an operating agreement may:
(1)
provide that a membership interest in a limited liability company may be
evidenced by a certificate of membership interest issued by the limited liability company;
(2)
provide for the assignment or transfer of a membership interest
represented by such a certificate by transfer of the certificate; and
(3)
make other provisions for such certificates.