2020 New Mexico Statutes
Chapter 59A - Insurance Code
Article 58 - Service Contract Regulation
Section 59A-58-10.1 - Automatic renewal; notice.
A. A provider shall not include an automatic renewal provision within a service contract offered in this state unless the provider discloses the terms of the automatic renewal provision in a clear and conspicuous manner, or in the case of an offer conveyed by voice, in temporal proximity, to the request for consent to the offer and the consumer consents to the terms of the automatic renewal provision.
B. A provider shall provide notice to a holder specifying, in a clear and conspicuous manner, the procedure by which the holder may cancel the service contract, and such notice shall be provided at least thirty days before the last day on which the holder may give notice of the holder's intention not to renew the service contract but not sooner than sixty days before the last day on which the holder may give notice of the holder's intention not to renew.
C. The notice required by Subsection B of this section may be provided by United States mail, postage prepaid, or electronic mail if the consumer consents to receive notice via electronic mail at the inception of the service contract.
History: Laws 2019, ch. 254, § 3.
ANNOTATIONSEffective dates. — Laws 2019, ch. 254 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 14, 2019, 90 days after the adjournment of the legislature.
