New Mexico § 59A-30A-5 Organization of association

New Mexico Statutes

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

New Mexico § 59A-30A-5

Ch. 59AInsurance Code

Art. 30ATitle Insurance Guaranty

This text of New Mexico § 59A-30A-5 (Organization of association) 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-30A-5 (2026).

Text

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.

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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.