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2017 New Mexico Statutes
Chapter 66 - Motor Vehicles
Article 5 - Licensing of Operators and Chauffeurs; Financial Responsibility; Uninsured Motorists' Insurance; Identification Cards
Part 3 - FINANCIAL RESPONSIBILITY
Section 66-5-207.1 - Self-insurers.
Universal Citation: NM Stat § 66-5-207.1 (2017)
66-5-207.1. Self-insurers.
A. The superintendent of insurance shall issue a certificate of self-insurance to any applicant with motor vehicles registered in his name in this state, provided that the applicant has met the same criteria for self-insurance as set by the superintendent of insurance for workmen's compensation liability.
B. Upon not less than five days' notice and a hearing pursuant to such notice, the superintendent upon reasonable grounds may cancel a certificate of self-insurance. Failure to pay any judgment within thirty days after the judgment is final constitutes a reasonable ground for the cancellation of a certificate of self-insurance.
History: 1978 Comp., 66-5-207.1, enacted by Laws 1986, ch. 111, 2.
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