New Mexico § 59A-39-17 Subscribers' advisory committee

New Mexico Statutes

§ 59A-39-17 — Subscribers' advisory committee

New Mexico § 59A-39-17

Ch. 59AInsurance Code

Art. 39Reciprocal Insurers

This text of New Mexico § 59A-39-17 (Subscribers' advisory committee) 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-39-17 (2026).

Text

A. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. B. Not less than two-thirds of such committee shall be subscribers other than the attorney, or any person employed by, representing or having a financial interest in the attorney. C. The committee shall:

(1)supervise the finances of the insurer;

(2)supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and the power of attorney;

(3)procure the audit of the accounts and records of the insurer and of attorney at the expense of the insurer; and (4) have such additional powers and functions as may be conferred in the subscribers' agreement.

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A. The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. B. Not less than two-thirds of such committee shall be subscribers other than the attorney, or any person employed by, representing or having a financial interest in the attorney. C. The committee shall: (1) supervise the finances of the insurer; (2) supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and the power of attorney; (3) procure the audit of the accounts and records of the insurer and of attorney at the expense of the insurer; and (4) have such additional powers and functions as may be conferred in the subscribers' agreement.