NMSA 1978, § 7-24-5 — 7-24-5

[Assignment and transfer of license; effect.]
In case of the assignment and transfer of any license under the provisions of Section
702 (c) or 702 (f) of this act, no refund shall be made by any municipality or county to
the original licensee for the unexpired portion of such license, but such assignment and
transfer shall vest in the assignee and transferee the right to operate under the license
tax so paid by the original licensee for the period covered by the paid license tax and to
pay the balance of such license tax upon the same terms and conditions as if such
assignee or transferee were the original licensee.