New Mexico Statutes
§ 59A-16-15 — Discrimination; rebates and certain inducements
prohibited; life, health and annuity contracts. Except as otherwise expressly provided by law, no person shall directly or indirectly, as an inducement to any contract of life, annuity or health insurance: A. offer, pay or accept any special favor or advantage, any rebate of premiums or any valuable consideration or promise whatsoever; or B. promise any returns or profits, interest or dividends not specified in the contract.
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Legislative History
Laws 1984, ch. 127, § 281; 2021, ch. 108, § 9.
Nearby Sections
15
§ 59A-1-1
Short title§ 59A-1-10
"Person"; "individual"§ 59A-1-11
"State"§ 59A-1-12
Superintendent§ 59A-1-13
"Transacting insurance"§ 59A-1-14
Compliance required§ 59A-1-16
Exempted from code§ 59A-1-17
Particular provisions prevail§ 59A-1-18
General penalty§ 59A-1-2
Definitions§ 59A-1-3
"Insurance Code"§ 59A-1-4
Repealed§ 59A-1-5
"Insurance"