New Mexico § 59A-39-15 Financial condition; method of determining

New Mexico Statutes

§ 59A-39-15 — Financial condition; method of determining

New Mexico § 59A-39-15

Ch. 59AInsurance Code

Art. 39Reciprocal Insurers

This text of New Mexico § 59A-39-15 (Financial condition; method of determining) 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-39-15 (2026).

Text

In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules: A. he shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis; B. the surplus deposits of subscribers shall be allowed as assets except that any premium deposits delinquent for ninety (90) days shall first be charged against such surplus deposit; C. the surplus deposits of subscribers shall not be charged as a liability; D. all premium deposits delinquent less than ninety (90) days shall be allowed as assets; E. an assessment levied upon subscribers, and not collected, shall not be allowed as an asset; F. the contingent liability of subscribers shall not be allowed as an asset; and G. the computat

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In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules: A. he shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis; B. the surplus deposits of subscribers shall be allowed as assets except that any premium deposits delinquent for ninety (90) days shall first be charged against such surplus deposit; C. the surplus deposits of subscribers shall not be charged as a liability; D. all premium deposits delinquent less than ninety (90) days shall be allowed as assets; E. an assessment levied upon subscribers, and not collected, shall not be allowed as an asset; F. the contingent liability of subscribers shall not be allowed as an asset; and G. the computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.