New Mexico § 59A-8A-12 Single state exemption

New Mexico Statutes

§ 59A-8A-12 — Single state exemption

New Mexico § 59A-8A-12

Ch. 59AInsurance Code

Art. 8AStandard Valuation

This text of New Mexico § 59A-8A-12 (Single state exemption) 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-8A-12 (2026).

Text

A. The superintendent may exempt from the requirements of Section 59A-8A-8 NMSA 1978 the specific product forms or product lines of a domestic company that is licensed and doing business only in New Mexico if:

(1)the superintendent has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) the company computes reserves using the assumptions and methods used prior to the operative date of the valuation manual and using any requirements established by the superintendent and promulgated by rule. B. For a company granted an exemption pursuant to this section, Sections 59A-8A- 4, 59A-8A-6 and 59A-8A-7 NMSA 1978 apply. For a company that applies this exemption, a reference to Section 59A-8A-8 NMSA 1978 that is found in Sections 59A- 8A-4, 59

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A. The superintendent may exempt from the requirements of Section 59A-8A-8 NMSA 1978 the specific product forms or product lines of a domestic company that is licensed and doing business only in New Mexico if: (1) the superintendent has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) the company computes reserves using the assumptions and methods used prior to the operative date of the valuation manual and using any requirements established by the superintendent and promulgated by rule. B. For a company granted an exemption pursuant to this section, Sections 59A-8A- 4, 59A-8A-6 and 59A-8A-7 NMSA 1978 apply. For a company that applies this exemption, a reference to Section 59A-8A-8 NMSA 1978 that is found in Sections 59A- 8A-4, 59A-8A-6 and 59A-8A-7 NMSA 1978 does not apply.