Section 64-4-5 - Time of registration; penalty. - New Mexico Statutes

64-4-5. Time of registration; penalty.

A.     The owner or lessee of an aircraft, whichever is in possession, shall register the aircraft prior to March 1 of each year.   

B.     Any person who purchases, leases or otherwise acquires an aircraft or brings one into the state after March 1 shall register the aircraft within fifteen days after purchase, lease, acquisition or entering the state.   

C.     Any owner or lessee who fails to comply with Subsection A or any person who fails to comply with Subsection B shall pay a fine equal to ten percent of the regular registration fee times each month or portion of a month the registration fee is past due.