2011 New Mexico Statutes
Chapter 59A: Insurance Code
Article 39: Reciprocal Insurers, 59A-39-1 through 59A-39-26
Section 59A-39-12: Action on bond.
59A-39-12. Action on bond.
An action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.
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