2019 New Mexico Statutes
Chapter 59A - Insurance Code
Article 18 - The Insurance Contract
Section 59A-18-21 - Validity, construction of noncomplying forms.
A. A policy delivered or issued for delivery after the effective date of the Insurance Code [Chapter 59A NMSA 1978] to any person in this state in violation of the Insurance Code but otherwise binding on the insurer, shall be held valid, but shall be construed as provided in the Insurance Code.
B. Any condition, omission or provision not in compliance with the requirements of the Insurance Code and contained in any policy, rider or endorsement issued after the effective date of the Insurance Code and otherwise valid shall not thereby be rendered invalid but shall be interpreted and applied in accordance with such condition, omission or provision as would have applied had the same been in full compliance with the Insurance Code.
History: Laws 1984, ch. 127, § 350.
ANNOTATIONSEffective dates. — Laws 1984, ch. 127, § 999 made the Insurance Code effective January 1, 1985.
Cross references. — For existing forms and filings, see notes following 59A-5-21 NMSA 1978.
Where unsigned insurance policy enforceable. — Insurance policy was not void or otherwise unenforceable because the insured did not sign the application or consent to the policy in writing. If the insured consents to, and even directs, procurement of an insurance policy on his life and believes that he is thereby insured, permitting the insurance company to avoid liability when the insured dies would not further the purpose of 59A-18-8 NMSA 1978, which is to protect the insurer against speculation on his life and foul play. Jackson Nat'l Life Ins. Co. v. Receconi, 1992-NMSC-019, 113 N.M. 403, 827 P.2d 118.
