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