reglab/housing_qa huggingface dataset:
NM Stat § 59A-33-9.1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-9.1 - Policyholders' duty to disclose; ratings experience.

A. Failure or refusal by any rejected risk to make full disclosure to the pool, servicing carrier or insurer writing a policy of information concerning the policyholder's true ownership, change of ownership, operations or payroll or any other failure to disclose fully any records pertaining to workers' compensation insurance, shall be sufficient grounds for the pool to terminate the insurance of the policyholder as one not in good faith. B. Incurred experience shall be used in future ratings regardless of a change in ownership, control, management or operations, and leasing companies shall adopt the incurred experience of the insured, so that no employer shall evade the burdens imposed by an unfavorable or high-cost experience. History: 1978 Comp., § 59A-33-9.1, enacted by Laws 1990 (2nd S.S.), ch. 2, § 102.
NM Stat § 59A-33-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-11 - Safety rules prescribed by the pool.

Any servicing carrier shall administer and enforce reasonable regulations adopted by the board, subject to the superintendent's approval, for the prevention of injuries to employees of its assigned policyholders or any applicant for assignment for workers' compensation insurance. For this purpose, the representatives of any servicing carrier shall have free access to the premises of any assigned policyholder or applicant for assignment during regular working hours. The failure or refusal by any policyholder or applicant to comply with the safety regulations or to permit such access shall be sufficient grounds for determining whether the policyholder or applicant is, in good faith, entitled to workers' compensation insurance or to a surcharge or restrospective [retrospective] rate for continued coverage. History: Laws 1984, ch. 127, § 543; 1989, ch. 42, § 11; 1990 (2nd S.S.), ch. 2, § 104. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and it is not part of the law.
NM Stat § 59A-33-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-12 - Appeal to superintendent.

Any person aggrieved by any ruling or decision of the pool with respect to any assigned risk policy of workers' compensation insurance may file a written appeal to the superintendent, within thirty days following the ruling or decision. Upon receipt of an appeal, the superintendent shall schedule and hold a full hearing, on at least ten days' written notice to the parties affected, of the subject matter of the appeal, and after consideration of all matters presented at the hearing, as well as information available to him from the records of the insurance department, the superintendent may affirm, annul or modify the appealed ruling or decision, or take any other action with respect thereto determined by him to be fair, reasonable and nondiscriminatory, under all the circumstances. All testimony and other evidence on which the superintendent bases any decision under the Workers' Compensation Assigned Risk Pool Law shall be in writing, directed to the parties affected and filed of record in the insurance department. History: Laws 1984, ch. 127, § 544; 1989, ch. 42, § 12; 1990 (2nd S.S.), ch. 2, § 105.
NM Stat § 59A-33-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-13 - Action by superintendent; review.

Any action by the superintendent pursuant to the Workers' Compensation Assigned Risk Pool Law shall be subject to the review and appeal as provided in Chapter 59A, Article 4 NMSA 1978. History: Laws 1984, ch. 127, § 545; 1989, ch. 42, § 13.
NM Stat § 59A-33-14 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-14 - Workers' compensation policies to provide for deductible provision at option of insured.

Any workers' compensation insurance policy issued to cover a risk in this state shall include provisions giving the insured employer the option of choosing a deductible based upon the employer's financial ability to repay the insurer any amounts expended by the insurer on behalf of the employer. The deductible may be an amount ranging from five hundred dollars ($500) to two thousand five hundred dollars ($2,500), in increments of five hundred dollars ($500), or the amount of five thousand dollars ($5,000) or ten thousand dollars ($10,000). In exercising his authority to approve the form of the policy to be issued, the superintendent of insurance shall not approve any policy form that permits, directly or indirectly, any part of the deductible to be charged to or passed on to the worker. History: Laws 1989, ch. 257, § 1; 1990 (2nd S.S.), ch. 2, § 106.
NM Stat § 59A-33-15 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 33 - Workers' Compensation Insurance Contracts and Assigned Risks|Section 59A-33-15 - Pool policyholder liability.

No policyholder in the assigned risk pool shall be liable for any deficit incurred by the pool for the calendar year 1991 unless that policyholder's policy is issued or renewed in 1991. A policyholder in the pool as of January 1, 1991, shall not, therefore, be liable for any deficit incurred by the pool for 1991 unless that policyholder's policy is renewed with the pool in calendar year 1991. History: Laws 1990 (2nd S.S.), ch. 2, § 107.
NM Stat § 59A-34-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-1 - Scope of article.

This article [Chapter 59A, Article 34 NMSA 1978] applies as to domestic stock insurers and domestic mutual insurers as defined in Sections 71, 74, and 76 [59A-5-4, 59A-5-7, 59A-5-9 NMSA 1978] of the Insurance Code. History: Laws 1984, ch. 127, § 547. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 60 to 76. 44 C.J.S. Insurance § 104 et seq.
NM Stat § 59A-34-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-2 - Application of general corporation statutes.

The applicable statutes of this state relating to the powers and procedures of domestic private corporations formed for profit shall also apply to domestic stock insurers and to domestic mutual insurers except where in conflict with the express provisions of the Insurance Code and the reasonable implications of such provisions. History: Laws 1984, ch. 127, § 548. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-34-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-3 - Insurance business exclusive; exceptions.

A. Except as provided in this section, no domestic insurer shall engage in any business other than the insurance business and in business activities reasonably and necessarily incidental to such insurance business. B. A title insurer may also engage in business as an escrow agent. C. Any insurer may also engage in business activities reasonably related to the management, supervision, servicing of and protection of its interests as to its lawful investments, and to full utilization of its facilities. D. An insurer may own subsidiaries which may engage in such businesses as are provided for in Section 145 [59A-9-12 NMSA 1978] of the Insurance Code. History: Laws 1984, ch. 127, § 549.
NM Stat § 59A-34-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-4 - Incorporation.

A. Seven (7) or more individuals who have reached the age of majority may incorporate a stock insurer; ten (10) or more such individuals may incorporate a mutual insurer. Not less than two-thirds of the incorporators shall be citizens of the United States and residents of New Mexico. The articles of incorporation shall be signed by all incorporators and acknowledged by not less than three (3) of the incorporators as deeds are required to be acknowledged. B. The articles of incorporation shall state: (1) the name of the corporation; if a mutual, the word "mutual" shall be part of the name; (2) the duration of its existence, which may be perpetual; (3) if a stock corporation, the number of shares of authorized capital stock and the par value of each such share; authorized capital stock shall consist solely of one class of common stock with par value of not less that five dollars ($5) per share, and shares without par value shall not be authorized; the extent, if any, to which each share shall be liable to assessment; (4) if a mutual corporation, the maximum contingent liability of each member for payment of losses and expenses incurred, which liability shall be prominently stated in the articles of incorporation, and such conditions applicable to nonassessable policies as may be consistent with law; (5) the limitations, if any, on the corporation's indebtedness; (6) designation of the superintendent as an agent of the corporation upon whom may be served all process in any action or proceeding against the corporation; (7) the kinds of insurance the corporation is formed to transact, according to the definitions set forth in Article 7 [Chapter 59A, Article 7 NMSA 1978] of the Insurance Code; (8) the number of directors, not less than five (5), who shall conduct the corporation's affairs, and the names and addresses of the corporation's first directors and officers for a stated term of office of not less than six (6) months or more than one year's duration from date of incorporation; (9) the date and time of the annual meeting of stockholders or members; (10) the city or town in New Mexico in which is to be located the corporation's principal place of business; (11) such other provisions, not inconsistent with law, as deemed appropriate by the incorporators; and (12) the names and addresses of the incorporators. History: Laws 1984, ch. 127, § 550. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 105, 107, 303. 44 C.J.S. Insurance § 115.
NM Stat § 59A-34-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-5 - Filing, recording of articles; authority to raise capital or transact insurance required.

A. When executed and acknowledged by the incorporators, the articles of incorporation shall be filed with the secretary of state, and copies thereof certified by the secretary of state shall be filed with the superintendent and recorded in the office of the county clerk in the county of New Mexico wherein the corporation proposes to have its principal place of business. B. Upon completion of such filings and recording, the secretary of state shall issue to the corporation a certificate of incorporation, and incorporation shall be deemed effective as of date of issuance of such certificate. C. The corporation shall not raise any capital through sale of shares or otherwise except in compliance with Chapter 59A, Article 35 NMSA 1978, and shall not transact business as an insurer until it has applied for and received from the superintendent a certificate of authority as provided for under Chapter 59A, Article 5 NMSA 1978. History: Laws 1984, ch. 127, § 551; 2013, ch. 75, § 20. ANNOTATIONSThe 2013 amendment, effective July 1, 2013, required that articles of incorporation be filed with the secretary of state; in Subsection A, after "shall be filed", deleted "in the office of the corporation commission" and added "with the secretary of state" and after "certified by the", deleted "corporation commission" and added "secretary of state"; in Subsection B, after "filings and recording, the", deleted "corporation commission" and added "secretary of state"; and in Subsection C, after "compliance with", added "Chapter 59A", after "Article 35" deleted "(sale of insurance securities) of the insurance code" and added "NMSA 1978", after "provided for under", added "Chapter 59A", and after "Article 5", deleted "(authorization of insurers and general requirements) of the Insurance Code" and added "NMSA 1978".
NM Stat § 59A-34-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-6 - Amendment of articles of incorporation.

A. The articles of incorporation of a stock insurer may be amended in accordance with the general statutes of New Mexico applying to corporations formed for profit. A copy of the amendment, certified by the secretary of state, shall be filed with the superintendent, and a copy likewise certified shall be recorded in the county clerk's office of the county of the corporation's principal place of business. No amendment shall reduce authorized capital below the amount of paid-in capital stock required under Section 59A-5-16 NMSA 1978 for the certificate of authority covering the kinds of insurance immediately thereafter to be transacted by the insurer. B. The articles of incorporation of a mutual insurer may be amended by the affirmative vote of two-thirds of its members present in person or by proxy at a regular or special meeting of its members of which notice in writing of the proposed amendment was mailed to all members at least thirty days in advance, unless notice shall otherwise be provided for as approved by the superintendent. A certificate of the amendment, signed and acknowledged by the president and attested by the secretary of the corporation, shall be filed and recorded as required of original articles of incorporation. History: Laws 1984, ch. 127, § 552; 2013, ch. 75, § 21. ANNOTATIONSThe 2013 amendment, effective July 1, 2013, required the secretary of state to certify amendments of articles of incorporation of stock insurers; and in Subsection A, in the second sentence after "certified by the", deleted "corporation commission" and added "secretary of state", and in the third sentence, after "Section", deleted "83 of the Insurance Code" and added "59A-5-16 NMSA 1978". Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 104. 44 C.J.S. Insurance § 117.
NM Stat § 59A-34-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-7 - Nonuser of corporate charter.

A. Any domestic insurer which within one year from date of incorporation has not completed its organization and obtained a certificate of authority from the superintendent to transact insurance, shall unless granted an extension as hereinafter provided, forfeit its corporate charter, and the superintendent shall thereupon commence a proceeding for liquidation and dissolution of the corporation pursuant to the applicable provisions of Article 41 [Chapter 59A, Article 41 NMSA 1978] (conservation, rehabilitation, liquidation) of the Insurance Code. Upon written request by the corporation filed with him prior to the expiration of one year from its date of incorporation and for good cause shown, the superintendent may extend for an additional year the period within which the corporation shall qualify for and secure its certificate of authority as an insurer. B. Any insurer which ceases to write and issue new insurance business for a continuous period of two years shall forfeit its right to resume the writing of new business except with the prior written approval of the superintendent granted upon reasonable grounds. Unless such approval is granted, the superintendent shall commence a proceeding pursuant to Article 41 (conservation, rehabilitation, liquidation) of the Insurance Code to liquidate and dissolve the insurer. History: Laws 1984, ch. 127, § 553. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 125. 44 C.J.S. Insurance § 19.
NM Stat § 59A-34-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-8 - Prohibited interest of officers, directors and employees in certain transactions.

A. No officer or director of an insurer, or any employee of the insurer shall accept, except for the insurer, or be beneficiary of, any fee, brokerage, gift or other emolument in addition to fixed salary or compensation, because of any investment, loan, deposit, purchase, sale, exchange, reinsurance or other similar transaction made by or for the insurer, or be pecuniarily interested therein in any capacity except on behalf of the insurer. B. No insurer shall guarantee the financial obligation of any of its officers, directors, or employees. C. This section shall not prohibit such a director, officer, or employee from: (1) being a policyholder of the insurer and enjoying the rights customarily provided for holders of such policies; (2) participating as beneficiary in any pension or deferred compensation plan, profit-sharing plan, stock option plan or similar plan authorized by the insurer and to which he may be eligible; (3) receiving a fee in reasonable amount, if a director and not a salaried officer or employee, for special services rendered to the insurer in the usual independent practice of the profession of the director as attorney, accountant or physician; or (4) owning shares in a mutual fund or similar pooled investment through which he possesses an indirect interest in other corporations with which the insurer may directly or indirectly transact business, so long as such investment is in kind or amount not material to such transactions of the insurer. History: Laws 1984, ch. 127, § 554. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 107. 44 C.J.S. Insurance §§ 119 to 122.
NM Stat § 59A-34-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-9 - Salaries of officers, directors.

No insurer shall pay any salary, compensation or emolument to any officer or director thereof unless such payment has been duly authorized by the insurer's board of directors. History: Laws 1984, ch. 127, § 555.
NM Stat § 59A-34-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-10 - Records and accounts.

A. Every domestic insurer shall keep at its principal place of business in this state its original books, records, documents, accounts and vouchers in such manner that its financial condition can be ascertained, its financial statements filed with the superintendent readily verified, and its compliance with law determined. A domestic insurer the records of which on January 1, 1983 and on the effective date of the Insurance Code were being lawfully maintained outside this state shall for good cause shown be allowed by the superintendent a reasonable period, not to exceed one (1) year after such effective date, to return such records to its principal place of business in this state. B. The insurer may destroy records which have become obsolete in accordance with such classifications and schedule for destruction as may be adopted by the insurer and approved in writing by the superintendent. C. This section shall not be deemed to prohibit safekeeping arrangements for computerized and other records of the insurer outside such principal place of business and in the same general locality of this state so long as readily available to the insurer, and, for purposes of examination, to the superintendent. History: Laws 1984, ch. 127, § 556. ANNOTATIONSCompiler's notes. — Laws 1984, ch. 127, § 999 made the Insurance Code effective January 1, 1985.
NM Stat § 59A-34-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-11 - Vouchers for expenditures.

No insurer shall make any disbursement of one hundred dollars ($100) or more unless evidenced by a voucher or other document correctly describing the consideration for the payment and supported by a check or receipt endorsed or signed by or on behalf of the recipient. If the disbursement is for services and reimbursement the voucher or document or other writing referred to therein shall describe the services and itemize the expenditures. If the disbursement is in connection with any matter pending before any legislature or public body or public officer, the voucher or other document shall also correctly describe the nature of the matter and of the insurer's interest therein. History: Laws 1984, ch. 127, § 557.
NM Stat § 59A-34-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-12 - Assets to be kept in state; exceptions.

A. Every domestic insurer shall keep its assets within this state except as requisite for normal transaction of business. B. An insurer may maintain in or in connection with its branch office located outside this state furniture, fixtures, supplies and funds normally required for operation of the branch office. C. An insurer may maintain on deposit with or through the insurance supervisory officer of another state, province or country securities as required for authority to transact insurance therein. D. An insurer may have on deposit temporarily with established securities brokerage firms outside this state securities as required for purchase or sale of securities on the insurer's account, and shall have in its records adequate written receipt evidencing such deposit. E. An insurer may be owner of book-entry securities of the Federal Reserve Bank. History: Laws 1984, ch. 127, § 558.
NM Stat § 59A-34-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 34 - Domestic Stock and Mutual Insurers|Section 59A-34-13 - Removal, concealment of records, assets.

A. No person shall remove all or any material part of the records or assets of a domestic insurer from this state except pursuant to a plan of merger, consolidation or bulk reinsurance approved by the superintendent under this article, or for such other reasonable purposes and periods of time as may be permissible under Section 558 [59A-34-12 NMSA 1978] of this article, or as may have been approved by the superintendent in writing in advance of such removal. B. No person shall conceal any such records or assets from the superintendent. C. Any person who unlawfully removes or attempts to remove such records or assets or such material part thereof from its lawful location, or who unlawfully conceals or attempts to conceal the same from the insurer or superintendent, is upon conviction thereof guilty of a felony. D. Upon any unlawful removal or attempted removal of such records or assets, or upon retention of such record [records] or assets or material part thereof outside this state in violation of this section, or upon any unlawful concealment of or attempt to conceal records or assets the superintendent may, in his discretion, institute delinquency proceedings against the insurer pursuant to Article 41 [Chapter 59A, Article 41 NMSA 1978] (conservation, rehabilitation, liquidation) of the Insurance Code. History: Laws 1984, ch. 127, § 559. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.