N.M. Stat. § 53-19-37
Voluntary withdrawal of members.
A. Unless the articles of organization or an operating agreement provide otherwise,
a member of a limited liability company with perpetual existence has the right to
voluntarily withdraw from such limited liability company at any time by giving thirty days
prior written notice to the other members, or such other notice as a provision in the
articles of organization or an operating agreement requires.
B. Unless the articles of organization or an operating agreement provide otherwise,
a member of a limited liability company for a definite term or particular undertaking has
no right to withdraw voluntarily before the expiration of that term or the achievement of
that undertaking. If a member of a limited liability company for a definite term or
particular undertaking attempts to withdraw voluntarily without a right to do so, such
attempt shall be ineffective except that such member shall be deemed to have
relinquished by such attempt all of his right and power to vote or to otherwise participate
thereafter, in any way, in management or control of the limited liability company.
C. Unless the articles of organization or an operating agreement provide otherwise,
a member who elects voluntarily to withdraw pursuant to a right to do so shall be
entitled to receive, within a reasonable time following the effective date of such
withdrawal, the fair market value of his limited liability company interest. From and after
the effective date of such withdrawal he shall cease to be a member and shall be
deemed to have relinquished all right and power to vote or to otherwise participate in
any way in the management or control of the limited liability company or to participate in
distributions or otherwise to receive a return of capital from the limited liability company.