2015 New Mexico Statutes
Chapter 59A - Insurance Code
Section 39 Reciprocal Insurers
Section 59A-39-5 Attorney.
59A-39-5. Attorney.
A. "Attorney," as used in this article, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm or corporation.
B. The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of the discharge of its duties as such attorney with respect to the insurer's transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons, firms or corporations.
C. The subscribers and the attorney-in-fact comprise a reciprocal insurer and single entity for the purposes of Sections 102 to 106 [59A-6-2 to 59A-6-6 NMSA 1978] (premium tax and related provisions), inclusive, of the Insurance Code as to all operations under the insurer's certificate of authority.
History: Laws 1984, ch. 127, 662.
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