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2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 30A - Title Insurance Guaranty
Section 59A-30A-2 - Purpose.
Universal Citation: NM Stat § 59A-30A-2 (2017)
59A-30A-2. Purpose.
The purpose of the Title Insurance Guaranty Act is to provide a mechanism for continuation of coverage and payment of covered claims under certain title insurance policies, to avoid excessive delay in payment and avoid financial loss to policyholders because of insolvency of a title insurer, to assist in detection and prevention of title insurer insolvencies and to provide an association to assess the cost of such protection among title insurers.
History: Laws 1999, ch. 60, 2.
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