New Mexico § 59A-5A-8 Challenge hearings

New Mexico Statutes

§ 59A-5A-8 — Challenge hearings

New Mexico § 59A-5A-8

Ch. 59AInsurance Code

Art. 5ARisk-Based Capital

This text of New Mexico § 59A-5A-8 (Challenge hearings) 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-5A-8 (2026).

Text

Any insurer or health organization has the right to a confidential administrative hearing of record in accordance with Chapter 59A, Article 4 NMSA 1978 at which the insurer or health organization may challenge any determination or action by the superintendent pursuant to the Risk-Based Capital Act. A. The insurer or health organization shall file and serve on the superintendent its request for hearing within five days after any of the following events:

(1)the superintendent's notification to the insurer or health organization of an adjusted risk-based capital report;

(2)the superintendent's notification to the insurer or health organization that:

(a)the insurer's or health organization's risk-based capital plan or revised risk-based capital plan is unsatisfactory; and (b) such notificat

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Any insurer or health organization has the right to a confidential administrative hearing of record in accordance with Chapter 59A, Article 4 NMSA 1978 at which the insurer or health organization may challenge any determination or action by the superintendent pursuant to the Risk-Based Capital Act. A. The insurer or health organization shall file and serve on the superintendent its request for hearing within five days after any of the following events: (1) the superintendent's notification to the insurer or health organization of an adjusted risk-based capital report; (2) the superintendent's notification to the insurer or health organization that: (a) the insurer's or health organization's risk-based capital plan or revised risk-based capital plan is unsatisfactory; and (b) such notification constitutes a regulatory action level event with respect to the insurer or health organization; (3) the superintendent's notification to the insurer or health organization that the insurer or health organization has failed to adhere to its risk-based capital plan or revised risk-based capital plan and that such failure has had or will have a substantial adverse effect on the ability of the insurer or health organization to eliminate the company action level event; or (4) the superintendent's notification to an insurer or health organization of a corrective order with respect to the insurer or health organization. B. Upon receipt of the insurer's or health organization's request for hearing, the superintendent shall set a hearing date, which shall be not less than ten nor more than thirty days after the date of the insurer's or health organization's request.