New Mexico § 59A-10-7 Insurer's rights during solvency

New Mexico Statutes

§ 59A-10-7 — Insurer's rights during solvency

New Mexico § 59A-10-7

Ch. 59AInsurance Code

Art. 10Administration of Deposits; Trusteed Assets of Alien

This text of New Mexico § 59A-10-7 (Insurer's rights during solvency) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 59A-10-7 (2026).

Text

A. So long as the insurer remains solvent and is in compliance with the Insurance Code it may:

(1)demand, receive, and sue for and recover the income from the assets deposited;

(2)exchange and substitute eligible assets of equivalent or greater fair market value for the deposited assets; and (3) at any reasonable time inspect any such deposit. B. The superintendent may prescribe or approve reasonable arrangements and safeguards under which a solvent insurer may sell a particular deposited asset, immediately reinvest the proceeds of such sale in other assets eligible for deposit under this article, and deposit such other assets in lieu of that sold, in absence of excess deposit of the insurer adequate to cover such exchange.

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A. So long as the insurer remains solvent and is in compliance with the Insurance Code it may: (1) demand, receive, and sue for and recover the income from the assets deposited; (2) exchange and substitute eligible assets of equivalent or greater fair market value for the deposited assets; and (3) at any reasonable time inspect any such deposit. B. The superintendent may prescribe or approve reasonable arrangements and safeguards under which a solvent insurer may sell a particular deposited asset, immediately reinvest the proceeds of such sale in other assets eligible for deposit under this article, and deposit such other assets in lieu of that sold, in absence of excess deposit of the insurer adequate to cover such exchange.