There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 39: Reciprocal Insurers, 59A-39-1 through 59A-39-26
Section 59A-39-3: Insuring powers of reciprocals.
NM Stat § 59A-39-3 (1996 through 1st Sess 50th Legis) What's This?
59A-39-3. Insuring powers of reciprocals.
A. A reciprocal insurer may, upon qualifying therefor as provided for by the Insurance Code, transact any kind or kinds of insurance defined by the Insurance Code other than life or title insurances.
B. Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is authorized to transact direct.
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