N.M. Stat. § 53-6-12
Disqualification; dissolution.
If any officer, shareholder, agent or employee of a professional corporation who has
been rendering professional service to the public becomes legally disqualified to render
the professional service within this state, or is elected to a public office that, pursuant to
existing law, is a restriction or limitation upon rendering of a professional service, or
accepts employment that, pursuant to existing law, places restriction or limitations upon
his continued rendering of the professional service, he shall sever all employment with,
and financial interest in, the professional corporation forthwith. A professional
corporation's failure to require compliance with this section shall constitute a ground for
the forfeiture of its articles of incorporation and its dissolution. When a professional
corporation's failure to comply with this section is brought to the attention of the public
regulation commission [secretary of state], the commission [secretary of state] shall
certify to the attorney general that fact for appropriate action to dissolve the professional
corporation.