New Mexico § 59A-55-9 Examination regarding financial condition

New Mexico Statutes

§ 59A-55-9 — Examination regarding financial condition

New Mexico·Ch. 59A Insurance Code·Art. 55 Risk Retention and Purchasing Groups

Each risk retention group shall submit to an examination by the superintendent to determine its financial condition if the superintendent of the jurisdiction in which the group is chartered and licensed has not initiated an examination or does not initiate an examination within sixty days after a request by the New Mexico superintendent. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner and in accordance with the national association of insurance commissioner's handbook. All such examinations shall be paid for by the risk retention group pursuant to Section 59A-4-14 NMSA 1978.

Free access — add to your briefcase to read the full text and ask questions with AI

Each risk retention group shall submit to an examination by the superintendent to determine its financial condition if the superintendent of the jurisdiction in which the group is chartered and licensed has not initiated an examination or does not initiate an examination within sixty days after a request by the New Mexico superintendent. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner and in accordance with the national association of insurance commissioner's handbook. All such examinations shall be paid for by the risk retention group pursuant to Section 59A-4-14 NMSA 1978.

New Mexico § 59A-55-9 (Examination regarding financial condition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.