2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 44: Fraternal Benefit Societies, 59A-44-1 through 59A-44-46
Section 59A-44-12: Institutions.
59A-44-12. Institutions.
A. A society may create, maintain and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by Paragraph (2) of Subsection A of Section 59A-44-5 NMSA 1978. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but shall not be allowed as an admitted asset of such society.
B. No society shall own or operate funeral homes or any establishments related to undertaking.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
