N.M. Stat. § 63-2-12
[Aiding other roads; operating jointly; assent of
stockholders.]
Any railroad company organized under the laws of this state, may at any time by
means of subscription to the capital of any other company or otherwise aid such
company in the construction of its railroad within or without the state, for the purpose of
forming a connection with the said last mentioned road with the road owned by the
company furnishing such aid, or any railroad organized in pursuance of law, either
within this state or any other state or territory, may lease or purchase any part or all of
any railroad constructed, owned or leased by any other company, upon such terms and
conditions as may be agreed on between such companies respectively, or any two or
more railroad companies may enter into any arrangement for their common benefit
consistent with, and calculated to promote the objects for which they were created:
provided, that no such aid shall be furnished, nor any purchase, lease, subletting or
arrangements be perfected until a meeting of stockholders of such company of this
state, party to such agreement, shall have been called by the directors thereof, at such
time and place and in such manner as they shall designate, and the holders of at least
two-thirds of the stock of such company represented at such meeting, in person or by
proxy, and voting thereat, shall have assented thereto.