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 66-5-208 - Evidence of financial responsibility; amounts and conditions.

Universal Citation: NM Stat § 66-5-208 (2017)

66-5-208. Evidence of financial responsibility; amounts and conditions.

"Evidence of financial responsibility," as used in the Mandatory Financial Responsibility Act, means evidence of the ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of the evidence, arising out of the ownership, maintenance or use of a vehicle of a type subject to registration under the laws of New Mexico, in the following amounts:

A. twenty-five thousand dollars ($25,000) because of bodily injury to or death of one person in any one accident;

B. subject to this limit for one person, fifty thousand dollars ($50,000) because of bodily injury to or death of two or more persons in any one accident;

C. ten thousand dollars ($10,000) because of injury to or destruction of property of others in any one accident; and

D. if evidence is in the form of a surety bond or a cash deposit, the total amount shall be sixty thousand dollars ($60,000).

History: 1953 Comp., 64-5-206, enacted by Laws 1978, ch. 35, 282; 1978 Comp., 66-5-206, recompiled as 1978 Comp., 66-5-208 by Laws 1983, ch. 318, 7, 9.

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