New Mexico § 59A-2-3 Superintendent; qualifications and bond

New Mexico Statutes

§ 59A-2-3 — Superintendent; qualifications and bond

New Mexico § 59A-2-3

Ch. 59AInsurance Code

Art. 2Office of Superintendent of Insurance

This text of New Mexico § 59A-2-3 (Superintendent; qualifications and bond) 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-2-3 (2026).

Text

The superintendent shall: A. be bonded as provided in the Surety Bond Act [10-2-13 to 10-2-16 NMSA 1978]; B. not have a direct financial interest in an insurer, insurance agency or insurance transaction except as a policyholder or a claimant under a policy or as an owner of less than one percent of the shares of an insurer that is a publicly traded corporation; and C. not have a spouse who:

(1)has a direct financial interest in an insurer or insurance agency regulated by the office of superintendent of insurance, except as an owner of less than one percent of the shares of an insurer that is a publicly traded corporation; or (2) is licensed as an individual by the office of superintendent of insurance.

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The superintendent shall: A. be bonded as provided in the Surety Bond Act [10-2-13 to 10-2-16 NMSA 1978]; B. not have a direct financial interest in an insurer, insurance agency or insurance transaction except as a policyholder or a claimant under a policy or as an owner of less than one percent of the shares of an insurer that is a publicly traded corporation; and C. not have a spouse who: (1) has a direct financial interest in an insurer or insurance agency regulated by the office of superintendent of insurance, except as an owner of less than one percent of the shares of an insurer that is a publicly traded corporation; or (2) is licensed as an individual by the office of superintendent of insurance.