There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 8: Assets and Liabilities, 59A-8-1 through 59A-8-16
Section 59A-8-10: Unearned premium reserve, marine and transportation insurance.
NM Stat § 59A-8-10 (1996 through 1st Sess 50th Legis) What's This?
59A-8-10. Unearned premium reserve, marine and transportation insurance.
As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the superintendent may require the insurer to carry a reserve equal to one hundred percent of premiums on trip risks written during the month ended as of the date of statement.
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