2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 20 - Life Insurance and Annuity Contracts
Section 59A-20-14 - Payment of claims.

Universal Citation: NM Stat § 59A-20-14 (2017)

59A-20-14. Payment of claims.

There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer's option, surrender of the policy or proof of the interest of the claimant. If an insurer shall specify a particular period prior to the expiration of which settlement shall be made, such period shall not exceed two months from the receipt of such proofs.

History: Laws 1984, ch. 127, 379.

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