New Mexico § 59A-34-12 Assets to be kept in state; exceptions

New Mexico Statutes

§ 59A-34-12 — Assets to be kept in state; exceptions

New Mexico·Ch. 59A Insurance Code·Art. 34 Domestic Stock and Mutual Insurers

A.Every domestic insurer shall keep its assets within this state except as requisite for normal transaction of business.

B.An insurer may maintain in or in connection with its branch office located outside this state furniture, fixtures, supplies and funds normally required for operation of the branch office.

C.An insurer may maintain on deposit with or through the insurance supervisory officer of another state, province or country securities as required for authority to transact insurance therein.

D.An insurer may have on deposit temporarily with established securities brokerage firms outside this state securities as required for purchase or sale of securities on the insurer's account, and shall have in its records adequate written receipt evidencing such deposit.

E.An insurer may be

Free access — add to your briefcase to read the full text and ask questions with AI

A. Every domestic insurer shall keep its assets within this state except as requisite for normal transaction of business. B. An insurer may maintain in or in connection with its branch office located outside this state furniture, fixtures, supplies and funds normally required for operation of the branch office. C. An insurer may maintain on deposit with or through the insurance supervisory officer of another state, province or country securities as required for authority to transact insurance therein. D. An insurer may have on deposit temporarily with established securities brokerage firms outside this state securities as required for purchase or sale of securities on the insurer's account, and shall have in its records adequate written receipt evidencing such deposit. E. An insurer may be owner of book-entry securities of the Federal Reserve Bank.

New Mexico § 59A-34-12 (Assets to be kept in state; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.