reglab/housing_qa huggingface dataset:
NM Stat § 59A-8A-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 8A - Standard Valuation|Section 59A-8A-7 - Minimum standards for accident and health insurance contracts.

For an accident and health insurance contract issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required by Subsection B of Section 59A-8A-3 NMSA 1978. For an accident and health insurance contract issued on or after the operative date of Section 59A-20-31 NMSA 1978 and prior to the operative date of the valuation manual, the minimum standard of valuation is the standard adopted by the superintendent by rule. History: 1978 Comp., § 59A-8A-7, enacted by Laws 2014, ch. 59, § 21. ANNOTATIONSCompiler's notes. — Pursuant to Laws 2014, ch. 59, § 55, the effective date of Laws 2014, ch. 59, §§ 15 through 27 was January 1, 2017. On June 30, 2016, the superintendent of insurance certified to the New Mexico compilation commission and the director of the legislative council service that: (1) the most recent version of the manual of valuation instructions adopted by the national association of insurance commissioners has been adopted by the national association of insurance commissioners by an affirmative vote of at least forty-two members or three-fourths of the members voting, whichever is greater; (2) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by states that collectively represent more than seventy-five percent of written direct premiums, as reported in the life, accident and health annual statements, the health annual statements and the fraternal annual statements submitted for 2008; and (3) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by at least forty-two of the following fifty-five jurisdictions: (a) the fifty states of the United States; (b) American Samoa; (c) the Virgin Islands of the United States; (d) the District of Columbia; (e) Guam; and (f) Puerto Rico. Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 59A-8A-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 8A - Standard Valuation|Section 59A-8A-10 - Experience reporting for policies in force on or after operative date of valuation manual.

For policies in force on or after the operative date of the valuation manual, a company shall submit mortality, morbidity, policyholder behavior or expense experience and other data as prescribed in the valuation manual. History: 1978 Comp., § 59A-8A-10, enacted by Laws 2014, ch. 59, § 24. ANNOTATIONSCompiler's notes. — Pursuant to Laws 2014, ch. 59, § 55, the effective date of Laws 2014, ch. 59, §§ 15 through 27 was January 1, 2017. On June 30, 2016, the superintendent of insurance certified to the New Mexico compilation commission and the director of the legislative council service that: (1) the most recent version of the manual of valuation instructions adopted by the national association of insurance commissioners has been adopted by the national association of insurance commissioners by an affirmative vote of at least forty-two members or three-fourths of the members voting, whichever is greater; (2) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by states that collectively represent more than seventy-five percent of written direct premiums, as reported in the life, accident and health annual statements, the health annual statements and the fraternal annual statements submitted for 2008; and (3) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by at least forty-two of the following fifty-five jurisdictions: (a) the fifty states of the United States; (b) American Samoa; (c) the Virgin Islands of the United States; (d) the District of Columbia; (e) Guam; and (f) Puerto Rico. Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 59A-8A-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 8A - Standard Valuation|Section 59A-8A-12 - Single state exemption.

A. The superintendent may exempt from the requirements of Section 59A-8A-8 NMSA 1978 the specific product forms or product lines of a domestic company that is licensed and doing business only in New Mexico if: (1) the superintendent has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and (2) the company computes reserves using the assumptions and methods used prior to the operative date of the valuation manual and using any requirements established by the superintendent and promulgated by rule. B. For a company granted an exemption pursuant to this section, Sections 59A-8A-4, 59A-8A-6 and 59A-8A-7 NMSA 1978 apply. For a company that applies this exemption, a reference to Section 59A-8A-8 NMSA 1978 that is found in Sections 59A-8A-4, 59A-8A-6 and 59A-8A-7 NMSA 1978 does not apply. History: 1978 Comp., § 59A-8A-12, enacted by Laws 2014, ch. 59, § 26. ANNOTATIONSCompiler's notes. — Pursuant to Laws 2014, ch. 59, § 55, the effective date of Laws 2014, ch. 59, §§ 15 through 27 was January 1, 2017. On June 30, 2016, the superintendent of insurance certified to the New Mexico compilation commission and the director of the legislative council service that: (1) the most recent version of the manual of valuation instructions adopted by the national association of insurance commissioners has been adopted by the national association of insurance commissioners by an affirmative vote of at least forty-two members or three-fourths of the members voting, whichever is greater; (2) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by states that collectively represent more than seventy-five percent of written direct premiums, as reported in the life, accident and health annual statements, the health annual statements and the fraternal annual statements submitted for 2008; and (3) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by at least forty-two of the following fifty-five jurisdictions: (a) the fifty states of the United States; (b) American Samoa; (c) the Virgin Islands of the United States; (d) the District of Columbia; (e) Guam; and (f) Puerto Rico. Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 59A-9-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-1 - Scope.

This article [Chapter 59A, Article 9 NMSA 1978], with exception of Section 160 [59A-9-27 NMSA 1978], applies only to domestic insurers. History: Laws 1984, ch. 127, § 134.
NM Stat § 59A-9-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-2 - Eligible investments.

A. Insurers shall invest in or lend their funds on security of, and shall hold as invested assets, only eligible investments as prescribed in this article. B. Any particular investment held by an insurer on effective date of the Insurance Code, which was a legal investment at time made and which the insurer was legally entitled to possess immediately prior to such effective date, shall be deemed an eligible investment. C. Eligibility of an investment shall otherwise be determined as of date of making or acquisition. D. Any investment limitation based upon the amount of the insurer's assets or particular funds shall relate to such assets or funds as shown by the insurer's annual statement as of December 31 next preceding date of acquisition of the investment, or as shown by a more recent financial statement resulting from merger of another insurer, bulk reinsurance or change of capitalization. E. No insurer shall pay any commission or brokerage for purchase or sale of property in excess of that usual and customary at the time and in the locality where the purchase or sale is made. History: Laws 1984, ch. 127, § 135. ANNOTATIONSCompiler's notes. — The phrase "effective date of the Insurance Code" means January 1, 1985, the effective date of Laws 1984, Chapter 127. Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 C.J.S. Insurance § 110.
NM Stat § 59A-9-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-4 - Authorization and record of investments.

A. An insurer shall not make any particular investment or loan (other than policy loans or annuity contract loans of a life insurer) unless the same is authorized or ratified by the insurer's board of directors, or other appropriate governing body if a reciprocal or Lloyd's insurer, or by a committee thereof charged with supervision of investments and loans. The minutes of any such committee shall be recorded and a report submitted to the board of directors or such other appropriate governing body, at the next meeting thereof. B. The insurer shall maintain a full record of each investment showing, among other pertinent information, the name of any officer, director or principal stockholder or security holder of the insurer having any direct, indirect or contingent interest in the securities, loan or property constituting the investment, or in the person in whose behalf the investment is made, and the nature of such interest. History: Laws 1984, ch. 127, § 137.
NM Stat § 59A-9-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-5 - Diversification.

An insurer shall invest in or hold as assets categories of investments only within applicable limits as follows: A. one person: an insurer shall not at any one time have any combination of investments in or loans upon the security of obligations, property or securities of any one person (other than its lawful subsidiary) aggregating over ten percent of the insurer's assets. This shall not apply as to general obligations of the United States or of any state or of Canada or province thereof, or include policy loans made under Section 148 [59A-9-15 NMSA 1978] of this article, or bank deposits or certificates of deposit issued by banks. For purposes of this provision a corporation or other lawful entity together with its subsidiaries and affiliates shall constitute one person; B. voting stock: an insurer shall not invest in or hold at any one time more than ten percent of the outstanding voting stock of any corporation, except as to voting rights of preferred stock during default of dividends. This subsection does not apply to stock of the insurer's subsidiary acquired under Section 145 [59A-9-12 NMSA 1978] of this article; C. minimum capital: an insurer shall invest and maintain invested funds not less in amount than the minimum paid-in capital stock required under the Insurance Code of a domestic stock insurer transacting like kinds of insurance, only in cash and the securities provided for under the following sections of this article: Sections 139 [59A-9-6 NMSA 1978] (public obligations), 140 [59A-9-7 NMSA 1978] (obligations, stock of certain federal and international agencies), 141 [59A-9-8 NMSA 1978] (corporate obligations), and 147 [59A-9-14 NMSA 1978] (equipment trust certificates); D. revenue bonds: an insurer shall not have invested at any time more than twenty percent of its assets in revenue bonds described in Sections 139 and 141 [59A-9-6 and 59A-9-8 NMSA 1978] of this article; E. equipment trust certificates: an insurer shall not have invested at any time more than fifteen percent of its assets in equipment trust certificates described in Section 147 [59A-9-14 NMSA 1978] of this article; F. real property encumbrances: an insurer shall not at any one time have more than thirty-five percent of its assets invested in obligations secured by real property mortgages, trust deeds, contracts of purchase or other similar encumbrances of real property; and G. other specific limits: limits as to investments in real property shall be as provided in Section 154 [59A-9-21 NMSA 1978] of this article; and other specific limits shall apply as stated in this article dealing with other respective kinds of investments. History: Laws 1984, ch. 127, § 138. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-9-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-6 - Public obligations.

A. Subject to Subsection B, below, an insurer may invest in bonds or other evidences of indebtedness, not in default as to principal or interest, which are valid and legally authorized obligations issued, assumed or guaranteed by the United States government or by any state thereof, or by Canada or any of the provinces thereof; or by any county, city, town, village, municipality or district therein or political subdivision thereof, or public instrumentality of one or more of the foregoing, if by statutory or other legal requirements applicable thereto such obligations are payable as to both principal and interest, from: (1) taxes levied or required to be levied upon all taxable property or all taxable income within the jurisdiction of such governmental unit; or (2) adequate special revenues pledged or otherwise appropriated or by law required to be provided for the purpose of such payment; but not including any obligation payable solely out of special assessments on properties benefited by local improvements unless adequate security is evidenced by the ratio of assessment to value of the property or the obligation is additionally secured by an adequate guaranty fund or adequate source of revenue required by law. B. No such investment shall be made in any bond or evidence of indebtedness rated lower than BAA by Moody's Investment Service, Inc. or BBB by Standard & Poors, Inc. C. Bonds and similar obligations issued by any such governmental unit payable solely from revenues from special projects undertaken for air pollution control, exploitation of energy and other resources, transportation by pipeline or other means, and other similar projects, to be operated under lease or otherwise by one or more nongovernmental business entities, and such bonds or obligations guaranteed as to payment of principal and interest by such entities, are not deemed public obligations for purposes of this section. They shall be treated as obligations of the guarantors, and as to eligibility for investment of insurer funds are governed by Section 141 [59A-9-8 NMSA 1978] of this article. History: Laws 1984, ch. 127, § 139.
NM Stat § 59A-9-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-7 - Obligations, stock of certain federal and international agencies.

An insurer may invest in the obligations, and stock where stated, issued, assumed or guaranteed by the following agencies of the United States government, or in which such government is a participant, whether or not the obligations are guaranteed by it: A. farm loan bank; B. commodity credit corporation; C. federal intermediate credit banks; D. federal land banks; E. central bank for cooperatives; F. federal home loan banks, and stock thereof; G. federal national mortgage association, and stock thereof when acquired in connection with sale of mortgage loans to such association; H. international bank for reconstruction and development; I. inter-American development bank; J. Asian development bank; K. African development bank; and L. any other similar agency of, or participated in by, the United States government and of similar financial quality. History: Laws 1984, ch. 127, § 140; 1988, ch. 22, § 2.
NM Stat § 59A-9-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-8 - Corporate obligations.

A. An insurer may invest in the bonds, debentures or secured obligations of any solvent corporation organized and existing under the laws of any state, or of Canada or province thereof, which has been in existence and active business operation for not less than five (5) years, and which has not defaulted in payment of interest or principal of any of its obligations during the five (5) years prior to investment. B. No insurer shall invest in any such bonds or evidences of indebtedness in excess of ten percent of any issue and related issues thereof or one hundred thousand dollars ($100,000), whichever is the larger, subject to Paragraph A of Section 138 [59A-9-5 NMSA 1978] (diversification) of this article. History: Laws 1984, ch. 127, § 141.
NM Stat § 59A-9-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-9 - Preferred or guaranteed stocks.

A. An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or Canada, or any state or province thereof. B. No insurer shall invest in any such preferred or guaranteed stock in an amount in excess of ten percent of any issue and related issues thereof, subject to Paragraph A of Section 138 [59A-9-5 NMSA 1978] (diversification) of this article, and subject to the limit of the insurer's investments in preferred, guaranteed and common stocks as stated in Subsection B of Section 143 [59A-9-10 NMSA 1978] (common stocks) of this article. History: Laws 1984, ch. 127, § 142.
NM Stat § 59A-9-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-10 - Common stocks.

A. An insurer may invest in nonassessable (except as to bank or trust company stocks, and except for taxes) common stocks, other than insurance stocks, of any solvent corporation organized and existing under the laws of the United States or Canada, or of any state or province thereof, which has been in existence and active business operation for at least five (5) years prior to the investment; and if such corporation has had net earnings available for dividends on such stock in each of such five (5) years. If the issuing corporation has not been in legal existence for the whole of such five (5) years but was formed as a consolidation or merger of two or more businesses of which at least one was in operation on a date five (5) years prior to the investment, the test of eligibility of the common stock under this section shall be based upon consolidated pro forma statements of the predecessor or constitutuent [constituent] institutions. B. An insurer shall not at any time have invested in preferred or guaranteed stocks or common stocks an aggregate of more than ten percent of its assets if a life insurer, or thirty-five percent of its assets if transacting kinds of insurance other than life insurance. History: Laws 1984, ch. 127, § 143.
NM Stat § 59A-9-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-11 - Insurance stocks.

A. An insurer may invest in the stocks of other solvent insurers formed under the laws of this or another state, which stocks meet the applicable requirements of Section 142 [59A-9-9 NMSA 1978] (preferred or guaranteed stocks) or 143 [59A-9-10 NMSA 1978] (common stocks) of this article. B. With the superintendent's advance written consent an insurer may acquire and hold controlling interest in or all outstanding voting stock of another such insurer. The superintendent shall not consent to any such acquisition if he finds it not in the best interests of the insurers involved, or of their respective policyholders or stockholders, or that the acquisition would materially tend to lessen competition or to result in any monopoly in the insurance business in this state. C. Stock so acquired shall be included with other stock investments for the purpose of the limit of aggregate investments stated in Subsection B of Section 143 of this article. History: Laws 1984, ch. 127, § 144.
NM Stat § 59A-9-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-13 - Common trust funds, mutual funds.

A. An insurer may invest in: (1) a bank's common trust fund as defined in Section 584 of the United States Internal Revenue Code of 1954; and (2) the securities of any open-end or closed-end management type investment company or investment trust registered under the federal Investment Company Act of 1940, as from time to time amended, if such investment company or trust has assets of not less than ten million dollars ($10,000,000) at date of the investment. B. All such investments shall be considered as investment in common stocks for the purpose of the limit on aggregate investments imposed by Subsection B of Section 143 [59A-9-10 NMSA 1978] of this article. History: Laws 1984, ch. 127, § 146. ANNOTATIONSCross references. — For Section 584 of the United States Internal Revenue Code of 1954, see 26 U.S.C. § 584. For the federal Investment Company Act of 1940, see 15 U.S.C. § 80a-1 et seq.
NM Stat § 59A-9-14 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-14 - Equipment trust certificates.

An insurer may invest in equipment trust obligations or certificates adequately secured and evidencing an interest in transportation equipment, wholly or in part within or principally based within, the United States or Canada, which obligations or certificates carry the right to receive determined portions of rental, purchase or other fixed obligatory payments to be made for use or purchase of such transportation equipment. History: Laws 1984, ch. 127, § 147.
NM Stat § 59A-9-15 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-15 - Policy loans.

A life insurer may lend to its policyholder or annuity contract holder, upon pledge of the policy or contract as collateral security, any sum not exceeding the cash surrender value of the policy or contract, or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, so long as the loan is adequately secured by such pledge or assignment. History: Laws 1984, ch. 127, § 148.
NM Stat § 59A-9-16 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 9 - Investments|Section 59A-9-16 - Collateral loans.

An insurer may invest in loans secured by deposits of collateral consisting of securities in which the insurer may otherwise invest under this article, if the current market value of such collateral is not less than twenty percent in excess of the amount of the loan. The amount so loaned shall be included pro rata in determining the maximum of funds permitted under this article to be invested in the respective categories of securities so pledged. The superintendent may by rule or regulation place reasonable limit upon such loans to a parent corporation, subsidiary or affiliate of the insurer. History: Laws 1984, ch. 127, § 149.