2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 13 - Adjusters
Section 59A-13-16 - Escrow or trust accounts.

Universal Citation: NM Stat § 59A-13-16 (2017)

59A-13-16. Escrow or trust accounts.

A public adjuster who receives, accepts or holds any funds on behalf of an insured toward the settlement of a claim for loss or damage shall deposit the funds in a non-interest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster's home state or where the loss occurred.

History: Laws 2017, ch. 76, 10.

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