New Mexico § 59A-44-16 Benefits

New Mexico Statutes

§ 59A-44-16 — Benefits

New Mexico § 59A-44-16

Ch. 59AInsurance Code

Art. 44Fraternal Benefit Societies

This text of New Mexico § 59A-44-16 (Benefits) 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-44-16 (2026).

Text

A. A society authorized to do business in this state may provide the following contractual benefits in any form:

(1)life insurance, endowment benefits and annuity benefits as defined in Section 59A-7-2 NMSA 1978;

(2)health insurance benefits as defined in Section 59A-7-3 NMSA 1978;

(3)monument or tombstone benefits to the memory of deceased members; and (4) such other benefits as authorized for life, accident and health insurers and which are not inconsistent with Chapter 59A, Article 44 NMSA 1978, as approved by the superintendent. B. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in Subsection A of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives

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A. A society authorized to do business in this state may provide the following contractual benefits in any form: (1) life insurance, endowment benefits and annuity benefits as defined in Section 59A-7-2 NMSA 1978; (2) health insurance benefits as defined in Section 59A-7-3 NMSA 1978; (3) monument or tombstone benefits to the memory of deceased members; and (4) such other benefits as authorized for life, accident and health insurers and which are not inconsistent with Chapter 59A, Article 44 NMSA 1978, as approved by the superintendent. B. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in Subsection A of this section, consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person having an insurable interest as defined in Section 59A-18-4 NMSA 1978.