2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 32: Motor Vehicle Insurance, 59A-32-1 through 59A-32-23
Section 59A-32-8: Failure to file plan; assigned risk plan prescribed.
59A-32-8. Failure to file plan; assigned risk plan prescribed.
If no plan which meets the requirements of Section 523 [59A-32-5 NMSA 1978] of this article above has been filed with the superintendent within ninety (90) days after June 30, 1959, or within the period stated in any order which disapproves an existing plan, the superintendent may formulate and prescribe a plan which does meet such requirements, after hearing or consultation with insurers authorized to transact in this state the business of automobile and motor vehicle bodily injury and property damage liability insurance. When any plan or plans or amendment thereto has or have been approved or prescribed, no insurer to which such plan is applicable shall thereafter issue any policy of such insurance, or undertake to transact such business in this state, unless the insurer participates in such plan.
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