New Mexico § 59A-34-3 Insurance business exclusive; exceptions

New Mexico Statutes

§ 59A-34-3 — Insurance business exclusive; exceptions

New Mexico § 59A-34-3

Ch. 59AInsurance Code

Art. 34Domestic Stock and Mutual Insurers

This text of New Mexico § 59A-34-3 (Insurance business exclusive; exceptions) 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-34-3 (2026).

Text

A.Except as provided in this section, no domestic insurer shall engage in any business other than the insurance business and in business activities reasonably and necessarily incidental to such insurance business.

B.A title insurer may also engage in business as an escrow agent.

C.Any insurer may also engage in business activities reasonably related to the management, supervision, servicing of and protection of its interests as to its lawful investments, and to full utilization of its facilities.

D.An insurer may own subsidiaries which may engage in such businesses as are provided for in Section 145 [59A-9-12 NMSA 1978] of the Insurance Code.

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A. Except as provided in this section, no domestic insurer shall engage in any business other than the insurance business and in business activities reasonably and necessarily incidental to such insurance business. B. A title insurer may also engage in business as an escrow agent. C. Any insurer may also engage in business activities reasonably related to the management, supervision, servicing of and protection of its interests as to its lawful investments, and to full utilization of its facilities. D. An insurer may own subsidiaries which may engage in such businesses as are provided for in Section 145 [59A-9-12 NMSA 1978] of the Insurance Code.