New Mexico § 59A-45-5 Exemptions

New Mexico Statutes

§ 59A-45-5 — Exemptions

New Mexico § 59A-45-5

Ch. 59AInsurance Code

Art. 45Premium Financing

This text of New Mexico § 59A-45-5 (Exemptions) 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-45-5 (2026).

Text

A. The provisions of this article shall not limit the authority of the following institutions to engage in insurance premium financing or apply to:

(1)any life insurer authorized to do business in the state;

(2)any national banking institution;

(3)any state bank;

(4)any savings and loan association;

(5)any small loan company; or (6) any credit union. B. The licensing and bonding provisions of this article shall not apply to:

(1)any insurer, other than those exempt from this article pursuant to Paragraph A(1); and (2) any insurance agent licensed by this state. C. This article shall not apply to the financing of insurance premiums in connection with a transaction under the Motor Vehicle Sales Finance Act [58-19-1 to 58-19-12 NMSA 1978], or under Sections 56-1-1 to 56-1-15 NMSA 1978.

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A. The provisions of this article shall not limit the authority of the following institutions to engage in insurance premium financing or apply to: (1) any life insurer authorized to do business in the state; (2) any national banking institution; (3) any state bank; (4) any savings and loan association; (5) any small loan company; or (6) any credit union. B. The licensing and bonding provisions of this article shall not apply to: (1) any insurer, other than those exempt from this article pursuant to Paragraph A(1); and (2) any insurance agent licensed by this state. C. This article shall not apply to the financing of insurance premiums in connection with a transaction under the Motor Vehicle Sales Finance Act [58-19-1 to 58-19-12 NMSA 1978], or under Sections 56-1-1 to 56-1-15 NMSA 1978.