N.M. Stat. § 54-2A-406
Management rights of general partner.
A. Each general partner has equal rights in the management and conduct of the
limited partnership's activities. Except as expressly provided in the Uniform Revised
Limited Partnership Act, any matter relating to the activities of the limited partnership
may be exclusively decided by the general partner or, if there is more than one general
partner, by a majority of the general partners.
B. The consent of each partner is necessary to:
(1)
amend the partnership agreement; and
(2)
sell, lease, exchange or otherwise dispose of all, or substantially all, of the
limited partnership's property, with or without the goodwill, other than in the usual and
regular course of the limited partnership's activities.
C. A limited partnership shall reimburse a general partner for payments made and
indemnify a general partner for liabilities incurred by the general partner in the ordinary
course of the activities of the partnership or for the preservation of its activities or
property.
D. A limited partnership shall reimburse a general partner for an advance to the
limited partnership beyond the amount of capital the general partner agreed to
contribute.
E. A payment or advance made by a general partner that gives rise to an obligation
of the limited partnership pursuant to Subsection C or D of this section constitutes a
loan to the limited partnership, which accrues interest from the date of the payment or
advance.
F. A general partner is not entitled to remuneration for services performed for the
partnership.