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-42-5: Organization of association; participation.
59A-42-5. Organization of association; participation.
All insurers shall organize and remain members of the association as a condition of their authority to transact insurance business covered by Section 752 [59A-42-3 NMSA 1978] of this article. The association may take any appropriate form of legal entity available under the laws of this state and approved by the superintendent. The association shall perform its functions under the plan of operation established and approved pursuant to this article and shall exercise its powers through a board of directors. For purposes of assessment and administration the association shall maintain three (3) accounts:
A. the health insurance account;
B. the life insurance account; and
C. the annuity account.
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