2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 10 - Administration of Deposits; Trusteed Assets of Alien Insurer
Section 59A-10-12 - Purpose and duration.

Universal Citation: NM Stat § 59A-10-12 (2017)

59A-10-12. Purpose and duration.

The deposit of an alien insurer provided for in Section 171 [59A-10-11 NMSA 1978] of this article shall be held in trust for the benefit, security and protection of the policyholders, or policyholders and creditors, of the insurer in the United States, and shall be maintained as long as there is outstanding in the United States any liability of the insurer arising out of its insurance transactions therein.

History: Laws 1984, ch. 127, 172.

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