§ 59A-30A-5 — Organization of association

All member insurers shall remain members of the association as a condition of their authority to transact insurance in this state. The association may take the form of any appropriate legal entity under New Mexico law, including a corporation, partnership or unincorporated association, as approved by the superintendent. For purposes of administration and assessment, the association shall have two separate accounts: A. the administrative account; and B. the title guaranty account.

Legislative History

Laws 1999, ch. 60, § 5.