2017 New Mexico Statutes
Chapter 52 - Workers' Compensation
Article 8 - Self-Insurers' Guarantee Fund Act
Section 52-8-10 - Withdrawal of certification; grounds.
52-8-10. Withdrawal of certification; grounds.
A. If certification of a self-insurer is withdrawn by the director, the private employer shall not be considered a self-insurer during any appeal of that determination. The private employer shall therefore obtain any necessary coverage from other sources pending resolution of the appeal.
B. Certification of a self-insurer may be withdrawn by the director in accordance with regulations he adopts. The regulations shall consider the following as grounds for termination:
(1) the employer no longer meets the requirements, financial or otherwise, of being a qualified self-insurer;
(2) the self-insurer engages in or induces workers to engage in fraudulent practices;
(3) the self-insurer fails to comply with rules and regulations of the director; or
(4) the self-insurer fails to maintain a sufficient fund balance, in which event certification shall be withdrawn effective the date that the fund balance is insufficient.
History: Laws 1990 (2nd S.S.), ch. 2, 118.
