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2020 New Mexico Statutes
Chapter 59A - Insurance Code
Article 39 - Reciprocal Insurers
Section 59A-39-11 - Deposit in lieu of bond.
Universal Citation: NM Stat § 59A-39-11 (2020)
In lieu of the bond required under Section 667 [59A-39-10 NMSA 1978] of this article, the attorney may maintain on deposit through the superintendent, a like amount in cash or in market value of United States government bonds, subject to the same conditions as the bond.
History: Laws 1984, ch. 127, § 668.
ANNOTATIONSCompiler's notes. — Laws 1984, ch. 127, § 993, provides that any deposit or surety bond filed in lieu thereof with or through the superintendent or state treasurer by any insurer in conjunction with authority to transact business in the state immediately prior to the effective date of the act (January 1, 1985) shall be given effect to the extent it complies with similar bonds required by the act after that date.
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