New Mexico § 59A-44-12 Institutions

New Mexico Statutes

§ 59A-44-12 — Institutions

New Mexico § 59A-44-12

Ch. 59AInsurance Code

Art. 44Fraternal Benefit Societies

This text of New Mexico § 59A-44-12 (Institutions) 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-44-12 (2026).

Text

A.A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Paragraph (2) of Subsection A of Section 59A-44-5 NMSA 1978. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but shall not be allowed as an admitted asset of such society.

B.No society shall own or operate funeral homes or any establishments related to undertaking.

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A. A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Paragraph (2) of Subsection A of Section 59A-44-5 NMSA 1978. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but shall not be allowed as an admitted asset of such society. B. No society shall own or operate funeral homes or any establishments related to undertaking.