New Mexico § 59A-21-25 Coverage under group policy issued in another state

New Mexico Statutes

§ 59A-21-25 — Coverage under group policy issued in another state

New Mexico § 59A-21-25

Ch. 59AInsurance Code

Art. 21Group Life Insurance

This text of New Mexico § 59A-21-25 (Coverage under group policy issued in another state) 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-21-25 (2026).

Text

A. No group life insurance coverage shall be offered in this state by an insurer under a policy issued in another state if the superintendent, or the appropriate insurance supervisory public official of another state, has determined that:

(1)issuance of the group policy was contrary to the best interests of the public;

(2)issuance of the group policy was not actuarially sound;

(3)issuance of the group policy did not result in economies of acquisition and administration; or (4) benefits provided under the group policy are not reasonable in relation to the premiums charged. B. Upon the superintendent's request the insurer shall promptly furnish to the superintendent a copy of any such group policy and of the certificate of insurance to be issued thereunder.

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A. No group life insurance coverage shall be offered in this state by an insurer under a policy issued in another state if the superintendent, or the appropriate insurance supervisory public official of another state, has determined that: (1) issuance of the group policy was contrary to the best interests of the public; (2) issuance of the group policy was not actuarially sound; (3) issuance of the group policy did not result in economies of acquisition and administration; or (4) benefits provided under the group policy are not reasonable in relation to the premiums charged. B. Upon the superintendent's request the insurer shall promptly furnish to the superintendent a copy of any such group policy and of the certificate of insurance to be issued thereunder.