reglab/housing_qa huggingface dataset:
NM Stat § 59A-40-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-1 - May be licensed to write certain insurance effective in Mexico.

A. Any insurer lawfully organized under the laws of the republic of Mexico, or under the laws of any state thereof, and duly authorized by such laws and by its charter or articles of association and by current license of the appropriate insurance regulatory authority of such republic or any state thereof to underwrite risks of the kinds and in the circumstances hereinafter mentioned, may issue in New Mexico, under license of the superintendent, policies of insurance affording any and all kinds of automobile insurance coverage, health insurance and other casualty insurance coverage, upon persons and personal property, to be in force only while such persons and personal property shall be physically within the boundaries of the republic of Mexico, by complying with the requirements of this article. B. For the purposes of general provisions of the Insurance Code such license shall be deemed to be a "certificate of authority" to transact such insurance in this state, but subject to the provisions of this article. History: Laws 1984, ch. 127, § 684. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 38.
NM Stat § 59A-40-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-2 - Application for license.

A. Such insurer shall file with the superintendent its written application for license to do business in this state, accompanied by a correct English translation of its charter and bylaws, duly certified by two (2) of its principal officers and by the insurance regulatory officials under whose supervision it operates in the republic of Mexico, and all of its policy forms, application forms, claim forms and other forms of every nature which it uses or expects to use in underwriting the coverage hereby authorized to be written in New Mexico, all of which shall be subject to the approval of the superintendent. B. Before licensing and annually thereafter, the insurer shall also file with the superintendent a copy of its current license or licenses to operate in the republic of Mexico, and shall file a copy of its latest financial reports or statements, and of the latest examination reports of its affairs and financial condition by the insurance regulatory authorities under which it operates in Mexico, with money amounts therein shown, or accompanied by statement of the amounts thereof, in United States dollars, together with statement of the basis on and date as of which pesos were so converted to dollars. History: Laws 1984, ch. 127, § 685. 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.
NM Stat § 59A-40-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-3 - Deposit or bond.

A. Before license is issued the insurer shall deposit with the treasurer of the state of New Mexico through the superintendent at least twenty-five thousand dollars ($25,000) in lawful money of the United States or in securities eligible for investment of funds of domestic casualty insurers and approved by the superintendent, which deposit shall be liable for all lawful claims and final judgments against such insurer, including taxes due New Mexico, and policy claims and other debts and obligations incurred in the course of operations as provided herein, and such deposit shall be kept replenished from time to time with like cash or approved securities to maintain a minimum total deposit of twenty-five thousand dollars ($25,000). B. In lieu of such deposit of cash or securities, the insurer may file with the superintendent and thereafter maintain in force a surety bond in like amount and for like purposes issued by a surety insurer authorized to transact such business in this state and acceptable to the superintendent. C. Such deposit or the unincumbered [unencumbered] balance thereof shall be returned to the insurer with approval of the superintendent, or such bond may be terminated, upon withdrawing from the business authorized hereby and upon a showing to the superintendent that all of its policies written in New Mexico hereunder have expired or have been cancelled and that all of the claims against such deposits or bond have been satisfied. D. The superintendent, upon the approval of the court, shall pay from the deposit required herein, or require payment by the surety under such bond, any unsatisfied final judgment obtained against the insurer in any court of competent jursidiction [jurisdiction] in New Mexico based upon service of process as authorized in this article. History: Laws 1984, ch. 127, § 686. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 59A-40-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-4 - Service of process.

Prior to issuance of license, the insurer shall file with the superintendent a power of attorney, in a form designated by the superintendent, designating the superintendent and his successors in office as attorney-in-fact for such insurer upon whom service of process may be had upon suits for any alleged liability incurred in operations of the insurer pursuant to this article, with like effect as if such process had been served personally upon the appropriate persons, representatives or officials of such insurer within its home jurisdiction in Mexico. In [the] event process is served upon the superintendent, as provided above, he shall immediately give written notice thereof to such insurer and shall forward such process by registered mail, postage prepaid, and properly addressed to the president of such insurer at its home office as furnished to the superintendent; and no judgment by default shall be taken in any such cause until after the expiration of forty (40) days after the process and notice have been received at such home office. Until rebutted, the presumption shall obtain that such notice and process was received at the home office of the insurer on the tenth (10th) day after being deposited in the mail at Santa Fe, New Mexico, as herein provided. History: Laws 1984, ch. 127, § 687. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 59A-40-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-5 - Reports.

The insurer shall pay any applicable fees and charges as are required under the Insurance Code to be paid by other authorized insurers transacting in New Mexico the same kind of insurance. The insurer shall make the same reports to the superintendent and the national association of insurance commissioners as are required of such other authorized insurers, but in such adapted forms as may for the purpose be prescribed by the superintendent. History: Laws 1984, ch. 127, § 688; 2018, ch. 57, § 23. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.The 2018 amendment, effective January 1, 2020, made conforming changes as a result of the transfer of the collection of insurance premium tax from the superintendent of insurance to the taxation and revenue department; in the catchline, deleted "Fees, taxes and", deleted "The insurer shall pay to New Mexico annually a premium tax based solely upon its gross premium receipts from insurance policies issued by it in New Mexico which cover residents of New Mexico or property or risk principally domiciled or located in this state, as shown by reports of the insurer filed with the superintendent each year, upon the same percentage rate and in the same manner as apply to authorized insurers transacting in New Mexico the same kinds of insurance.", after "The insurer shall", deleted "also", after "pay", deleted "such other" and added "any", after "applicable fees", added "and", after "charges", deleted "and taxes", and after "authorized insurers", added "transacting in New Mexico the same kind of insurance". Temporary provisions. — Laws 2018, ch. 57, § 30 provided that: A. On January 1, 2020, all personnel directly involved with the audit and collection of the taxes imposed pursuant to the New Mexico Insurance Code prior to the effective date of this act, functions, appropriations, money, records, furniture, equipment and other property of, or attributable to, the financial audit bureau of the office of superintendent of insurance shall be transferred to the taxation and revenue department. B. On January 1, 2020, no contractual obligations of the office of superintendent of insurance shall be binding on the taxation and revenue department.
NM Stat § 59A-40-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-6 - Premium rates.

Premiums charged by insurers licensed under this article shall be at rates filed with the superintendent and not disapproved by him, in the same manner as to premium rates of authorized insurers transacting in this state the same kinds of insurance. History: Laws 1984, ch. 127, § 689.
NM Stat § 59A-40-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-7 - Examination.

The superintendent may examine at any and all times, at the expense of the insurer, the affairs and conditions and all books and records of the insurer for the purpose of ascertaining its financial condition and solvency, and its compliance with applicable laws of this state and of its home jurisdiction. Any such examination shall be conducted, as far as reasonably possible, in the same manner and subject to the same requirements of the insurer and staff and matters related to the examination, as provided by the Insurance Code as to examination of insurers in general. History: Laws 1984, ch. 127, § 690. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-40-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-8 - Acceptance of laws; suspension, revocation, nonrenewal of license.

Prior to issuance of license under this article the insurer shall file with the superintendent a document in English as prescribed by the superintendent and executed by the insurer's appropriate officials expressly accepting the terms of this article and agreeing that the superintendent may at any time in his lawful discretion suspend, revoke or refuse to grant or continue the license of the insurer to do business in this state as in this article authorized, upon a determination by the superintendent that the insurer is insolvent or in dangerous financial condition, or that it has violated any law of this state or of its home jurisdiction. History: Laws 1984, ch. 127, § 691.
NM Stat § 59A-40-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 40 - Mexican Casualty Insurers|Section 59A-40-9 - Licensed agents required.

The insurer shall write business in New Mexico only through its resident United States agents duly appointed by it in writing and duly licensed by the superintendent under provisions of the Insurance Code applicable to insurance agents of authorized insurers. The appointment of agents shall specifically authorize the licensee to write for the Mexican insurer the insurance coverages as specified in Chapter 59A, Article 40 NMSA 1978. History: Laws 1984, ch. 127, § 692; 1999, ch. 272, § 21; 1999, ch. 289, § 31. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. The 1999 amendment, effective June 18, 1999, substituted "resident United States agents" for "resident New Mexico agents thereunto" in the first sentence, deleted "such" preceding "agents" in the second sentence, and updated the statutory reference in the last sentence. Laws 1999, ch. 272, § 21 and by Laws 1999, ch. 289, § 31, both effective June 18, 1999, enacted identical amendments to this section. The section was set out as amended by Laws 1999, ch. 289, § 31. See 12-1-8 NMSA 1978.
NM Stat § 59A-41-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-1 - Short title.

This article [Chapter 59A, Article 41 NMSA 1978] constitutes and may be cited as the Insurers Conservation, Rehabilitation, and Liquidation Law. History: Laws 1984, ch. 127, § 694. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 88 to 107. What constitutes insolvency of insurance company justifying state dissolution proceedings and the like, 17 A.L.R.4th 16. 44 C.J.S. Insurance § 135 et seq.
NM Stat § 59A-41-2 (2021)
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. ANNOTATIONSThe 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.
NM Stat § 59A-41-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-3 - Definitions.

As used in this article and unless context otherwise requires, the words and terms defined in Sections 696 through 708 [59A-41-4 to 59A-41-16 NMSA 1978] of this article shall have the meanings ascribed to them respectively in such sections. History: Laws 1984, ch. 127, § 695. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 129, 143. Validity, construction and effect of Uniform Insurers Liquidation Act, 46 A.L.R.2d 1185.
NM Stat § 59A-41-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-4 - "Ancillary state" defined.

Ancillary state means any state other than a domiciliary state. History: Laws 1984, ch. 127, § 696.
NM Stat § 59A-41-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-5 - "Creditor" defined.

Creditor means a person having a claim, whether matured or unmatured, liquidated or unliquidated, secured or unsecured, or absolute, fixed or contingent. History: Laws 1984, ch. 127, § 697.
NM Stat § 59A-41-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-6 - "Delinquency proceeding" defined.

Delinquency proceeding means any proceeding commenced against an insurer pursuant to this article for the purpose of conserving, rehabilitating, reorganizing or liquidating the insurer. History: Laws 1984, ch. 127, § 698.
NM Stat § 59A-41-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-7 - "Domiciliary state" defined.

Domiciliary state means the state in which an insurer is incorporated or organized or, as to an alien insurer, the state in which at commencement of delinquency proceedings the larger amount of the insurer's assets are held in trust or on deposit for the benefit of its policyholders and creditors in the United States. History: Laws 1984, ch. 127, § 699.
NM Stat § 59A-41-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-8 - "Foreign country" defined.

Foreign country means territory not in any state. History: Laws 1984, ch. 127, § 700.
NM Stat § 59A-41-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-9 - "General assets" defined.

General assets means all property, real, personal or otherwise, not specifically mortgaged, pledged, deposited or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons, and as to such specifically encumbered property the term includes all such property or its proceeds in excess of the amount necessary to discharge the sums secured thereby. Assets held in trust or on deposit for the security or benefit of all policyholders or all policyholders and creditors in the United States are deemed general assets. History: Laws 1984, ch. 127, § 701.
NM Stat § 59A-41-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-10 - "Impairment" defined.

Impairment exists as to: A. a stock, mutual, reciprocal, or foreign Lloyds insurer, when its basic capital is less than that required to be maintained by it under Section 83 [59A-5-16 NMSA 1978] of the Insurance Code; B. a domestic Lloyds insurer, when its surplus is less than as required under Section 83 or Article 38 [Chapter 59A, Article 38 NMSA 1978] of the Insurance Code; C. a nonprofit health care plan, when its assets are in amount less than the sum of its required trust deposit, required reserves and other liabilities; D. a prepaid dental care plan, when its assets are in amount less than the sum of its required bond or deposit in lieu thereof, its required reserves, and its other liabilities; E. a motor club, when its assets are in amount less than the sum of its required bond or deposit in lieu thereof, its required reserves, and its other liabilities; and F. any other corporation, when its assets are in amount less than the sum of its surplus required, if any, to be maintained, its paid-in capital stock, if any, and its other liabilities. History: Laws 1984, ch. 127, § 702.
NM Stat § 59A-41-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-11 - "Insolvency" defined.

Insolvency exists as to: A. any organization, when it is unable to meet its obligations as they mature; or B. a stock insurer or other stock corporation, when its assets are in amount less than its liabilities, exclusive of paid-in capital stock; or C. a mutual, reciprocal, or foreign Lloyds insurer, when its assets are in amount less than its liabilities exclusive of the minimum paid-in basic capital required under Section 83 [59A-5-16 NMSA 1978] of the Insurance Code for its authority to transact insurance; or D. a domestic Lloyds insurer, nonprofit health care plan, prepaid dental care plan, motor club, or other corporation other than any referred to in Subparagraphs B or C, above, when its assets are in amount less than its liabilities, exclusive of surplus, guaranty fund or deposit required to be maintained under the Insurance Code for its authority to transact insurance in this state. History: Laws 1984, ch. 127, § 703. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. Am. Jur. 2d, A.L.R. and C.J.S. references. — What constitutes insolvency of insurance company justifying state dissolution proceedings and the like, 17 A.L.R.4th 16.
NM Stat § 59A-41-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-12 - "Preferred claim" defined.

Preferred claim means any claim accorded priority of payment from the insurer's or organization's general assets under applicable law. History: Laws 1984, ch. 127, § 704.
NM Stat § 59A-41-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-13 - "Receiver" defined.

Receiver means a receiver, liquidator, rehabilitator or conservator, as context may require. History: Laws 1984, ch. 127, § 705.
NM Stat § 59A-41-14 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-14 - "Reciprocal state" defined.

Reciprocal state means any state other than this state in which in substance and effect the provisions of the Uniform Insurers Liquidation Act [59A-41-17 to 59A-41-23 NMSA 1978] are in force, including provisions requiring that the commissioners, director, superintendent of insurance or the equivalent insurance supervisory officer be the receiver of a delinquent insurer; and in which effective provisions exist for avoidance of fraudulent conveyances and unlawful preferential transfer. History: Laws 1984, ch. 127, § 706.
NM Stat § 59A-41-15 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-15 - "Secured claim" defined.

Secured claim means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow or otherwise, but not including special deposit claims or claims against general assets. "Secured claims" also include claims which more than four (4) months prior to commencement of delinquency proceedings in the state of the insurer's domicile have become liens upon specific assets through judicial process and not invalidated. History: Laws 1984, ch. 127, § 707.
NM Stat § 59A-41-16 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-16 - "Special deposit claim" defined.

Special deposit claim means any claim secured by a deposit made under a statute for the security or benefit of a limited class or classes of persons, but not including any general assets. History: Laws 1984, ch. 127, § 708.