2021 New Mexico Statutes
Chapter 59A - Insurance Code
Article 41 - Conservation, Rehabilitation and Liquidation
Section 59A-41-2 - Scope of article.

The provisions of Chapter 59A, Article 41 NMSA 1978 as applicable shall apply as to:

A. all insurers that are transacting or have transacted insurance in this state and against whom claims arising from that business may exist now or in the future;

B. all insurers that purport to do insurance business in this state;

C. all insurers having insureds resident in this state;

D. all persons in process of organization, or holding themselves out as organizing, or proposing to organize in this state for the purpose of becoming an insurer;

E. all nonprofit health care plans and fraternal benefit societies;

F. all title insurance companies;

G. all health maintenance organizations and prepaid dental or other prepaid health care delivery plans;

H. all Lloyds insurers, mandatory state pooling plans, mutual assessment companies, insurance exchanges, stipulated premium insurance companies, prearranged funeral plans, motor clubs, reciprocal insurers, surplus lines insurers, alien insurers or reinsurers with assets in trust or located in New Mexico, multiple employer welfare arrangements, risk retention groups, risk purchasing groups or surety companies; and

I. all other persons to whom such provisions may otherwise be made expressly applicable by law.

History: Laws 1984, ch. 127, § 693; 1991, ch. 125, § 29.

The 1991 amendment, effective April 3, 1991, substituted "Chapter 59A, Article 41 NMSA 1978" for "this article" in the introductory paragraph; rewrote Subsection A, which read "all insurers authorized to transact insurance in this state"; rewrote Subsection B, which read "all nonprofit health care plans, prepaid dental plans, motor clubs and similar organizations and plans authorized to transact business in this state; and for the purpose of such applicability all such plans, clubs and organizations may in this article be referred to as 'insurers' "; substituted "insureds" for "policyholders" in Subsection C; deleted former Subsection D, which read "all insurers against whom a claim under an insurance contract may arise in this state"; redesignated former Subsection E as Subsection D; added Subsections E to H; and redesignated former Subsection F as Subsection I.

Severability. — Laws 1991, ch. 125, § 30 provides for the severability of the act if any part or application thereof is held invalid.