New Mexico § 59A-43-5 Organization of association

New Mexico Statutes

§ 59A-43-5 — Organization of association

New Mexico § 59A-43-5

Ch. 59AInsurance Code

Art. 43Property and Casualty Insurance Guaranty Fund

This text of New Mexico § 59A-43-5 (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-43-5 (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 any appropriate form of legal entity available under the laws of this state and approved by the superintendent. For purposes of administration and assessment, the association shall be divided into three (3) separate accounts: A. the workmen's compensation insurance account; B. the automobile insurance account; and C. the account for all other insurance to which this article applies.

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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 any appropriate form of legal entity available under the laws of this state and approved by the superintendent. For purposes of administration and assessment, the association shall be divided into three (3) separate accounts: A. the workmen's compensation insurance account; B. the automobile insurance account; and C. the account for all other insurance to which this article applies.