corporate meetings

regarding an S corp in New Mexico, can the quarterly reports serve in lieu of face to face meetings?

Definitely not. If you do not hold whatever meetings the state code requires, you can possibly be held personally liable for the corporate debts down the road. That is the case if you omit any of the corporate formalities.

If you want a more informal arrangement and still want limited liability, you could consider converting your corporation to a limited liability company.

Thank you for your reply. Any suggestions as to where I can view the state codes (for NM) on line?

The following link is to the NM law on LLCs http://198.187.128.12/newmexico/lpext.dll?f=templates&fn=fs-main.htm&2.0

The following link is to the NM Corporations Code, which includes the LLC provisions: http://198.187.128.12/newmexico/lpext.dll?f=templates&fn=fs-main.htm&2.0