There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 55: Risk Retention and Purchasing Groups, 59A-55-1 through 59A-55-26
Section 59A-55-12: Prohibition on ownership by an insurance company.
NM Stat § 59A-55-12 (1996 through 1st Sess 50th Legis) What's This?
59A-55-12. Prohibition on ownership by an insurance company.
No risk retention group shall be allowed to do business in this state if an insurance company is directly or indirectly a member or owner of such risk retention group, other than in the case of a risk retention group all of whose members are insurance companies.
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