2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 10: Administration of Deposits; Trusteed Assets of Alien Insurer, 59A-10-1 through 59A-10-19
Section 59A-10-5: Depositories designated by treasurer.
59A-10-5. Depositories designated by treasurer.
The state treasurer may designate any solvent trust company or other solvent financial institution having trust powers and with offices located in this state, as the state treasurer's depository to receive and hold any general, special or excess deposit of an insurer under Chapter 59A, Article 10 NMSA 1978. The deposit shall be so handled at the expense, if any, of the insurer, and the state of New Mexico shall not be responsible for safekeeping thereof.
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