2015 New Mexico Statutes
Chapter 59A - Insurance Code
Section 5 Authorization of Insurers and General Requirements
Section 59A-5-15 Insuring power combinations.
59A-5-15. Insuring power combinations.
An insurer which otherwise qualifies therefor shall be authorized to transact any one kind or combination of kinds of insurance as defined in Sections 107 through 115 [59A-7-1 through 59A-7-9 NMSA 1978] (kinds of insurance) of the Insurance Code, except:
A. a life insurer may grant annuities and may be authorized to transact in addition only health insurance;
B. a reciprocal insurer or Lloyds insurer shall not transact life insurance; and
C. a title insurer shall be a stock or mutual corporation, and shall not transact any additional kind of insurance.
History: Laws 1984, ch. 127, 82.
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