2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 42: Life and Health Insurance Guaranty Fund, 59A-42-1 through 59A-42-16
Section 59A-42-3: Scope of article.

59A-42-3. Scope of article.

A. Chapter 59A, Article 42 NMSA 1978 applies to direct life insurance policies, health insurance policies, annuity contracts and contracts supplemental to life and health insurance policies and annuity contracts, issued or assumed by an authorized insurer, or assumed by an unauthorized insurer directly or indirectly from an authorized insurer.

B. Chapter 59A, Article 42 NMSA 1978 shall not apply as to:

(1) that portion or part of a variable life insurance or variable annuity contract not guaranteed by an insurer;

(2) that portion or part of any policy or contract under which the risk is borne by the policyholder;

(3) any policy or contract or part thereof assumed by the impaired or insolvent insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued to policyholders;

(4) any such policy or contract issued or assumed by:

(a) fraternal benefit societies;

(b) health care plans whether or not nonprofit;

(c) prepaid dental plans;

(d) health maintenance organizations; or

(e) any insurer which was insolvent or unable to fulfill its contractual obligations as of April 9, 1975; or

(5) any policy or contract otherwise excluded under provisions of that article.