reglab/housing_qa huggingface dataset:
NM Stat § 59A-37-30 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 37 - Insurance Holding Companies|Section 59A-37-30 - Enterprise risk filing.

The person who predominantly controls an insurer that is subject to registration shall file an enterprise risk report each year. The report shall reflect that person's knowledge and belief of the material risks within the insurance holding company system that pose enterprise risk to the insurer. The report shall be filed with the lead state insurance supervisory official of the insurance holding company system and in compliance with the relevant procedures outlined in the financial analysis handbook adopted by the national association of insurance commissioners. History: 1978 Comp., § 59A-37-30, enacted by Laws 2014, ch. 59, § 44. ANNOTATIONSEffective dates. — Laws 2014, ch. 59, § 55 made Laws 2014, ch. 59, § 44 effective July 1, 2014. 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-37-32 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 37 - Insurance Holding Companies|Section 59A-37-32 - Supervisory colleges.

A. In order to determine compliance with the Insurance Holding Company Law by an insurer registered pursuant to Section 59A-37-11 NMSA 1978, the superintendent may participate in a supervisory college for a domestic insurer that is part of an insurance holding company system with international operations. Concerning a supervisory college, the superintendent may: (1) initiate its establishment; (2) clarify its membership and the participation of other supervisors; (3) clarify its functions and the role of other regulators, including the establishment of a group-wide supervisor; (4) coordinate its ongoing activities, including planning meetings, supervision and processes for information sharing; and (5) establish a crisis management plan. B. A registered insurer subject to this section shall pay the reasonable expenses, including for travel, associated with the superintendent's participation in a supervisory college pursuant to Subsection C of this section. A supervisory college may be convened as a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates. The superintendent may establish a regular assessment to the insurer for the payment of these expenses. C. In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes of an insurer, and as part of the examination of individual insurers pursuant to Section 59A-37-23 NMSA 1978, the superintendent may participate in a supervisory college with other regulators charged with the supervision of the insurer or its affiliates, including other state, federal and international regulatory agencies. The superintendent may enter into agreements in accordance with Subsection C of Section 59A-37-24 NMSA 1978 that provide the basis for cooperation between the superintendent and the other regulatory agencies and the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the authority of the superintendent to regulate or supervise the insurer or its affiliates within its jurisdiction. History: 1978 Comp., § 59A-37-32, enacted by Laws 2014, ch. 59, § 46. ANNOTATIONSEffective dates. — Laws 2014, ch. 59, § 55 made Laws 2014, ch. 59, § 46 effective July 1, 2014. 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-38-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-1 - Lloyds Plan automobile insurance authorized.

A. Individuals, partnerships or associations of individuals, hereby designated underwriters, are authorized to make or write fire, theft, collision and comprehensive insurance on motor vehicles, on the Lloyds Plan, by executing articles of agreement expressing their purpose so to do and complying with the requirements of this article. B. Insurers formed under this article are authorized to transact vehicle insurance as defined in Section 113 [59A-7-7 NMSA 1978] of the Insurance Code if they meet the capital fund requirements specified in Section 83 [59A-5-16 NMSA 1978] of the Insurance Code and other reasonably applicable requirements for domestic stock vehicle insurers formed and qualified under the Insurance Code. History: Laws 1984, ch. 127, § 644. 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 §§ 21, 55. Combining or "stacking" of "no fault" or personal injury protection (PIP) coverages in automobile liability policy or policies, 29 A.L.R.4th 12. Combining or "stacking" medical payment provisions of automobile liability policy or policies issued by one or more insurers to one insured, 29 A.L.R.4th 49. Validity and construction of automobile insurance provision or statute automatically terminating coverage when insured obtains another policy providing similar coverage, 61 A.L.R.4th 1130. 46A C.J.S. Insurance § 1709 et seq.
NM Stat § 59A-38-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-2 - Approval of policies; attorney-in-fact.

All forms of policies proposed to be issued shall, before the issuance thereof, be approved by the superintendent. Such policies may be executed by an attorney-in-fact, which attorney-in-fact may be an individual, partnership or corporation, authorized by and acting for such underwriters under power of attorney. The principal office of the attorney-in-fact shall be located in New Mexico at such place as shall be designated by the underwriters in their articles of agreement. History: Laws 1984, ch. 127, § 645. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 44 Am. Jur. 2d Insurance § 1901. 46A C.J.S. Insurance §§ 1712, 1720, 1721.
NM Stat § 59A-38-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-3 - Application for certificate of authority.

The attorney-in-fact shall file with the superintendent an application for certificate of authority as provided in Section 88 [59A-5-21 NMSA 1978] of the Insurance Code and also accompanied by: A. the name of the attorney-in-fact, the name under which policies or contracts of insurance are to be made, and the title under which the business is to be conducted, which title shall contain the name of Lloyds; B. the location of the principal office of the attorney-in-fact; C. a copy of each form of policy or contract by which such insurance is to be effected; D. the classes of vehicle insurance to be issued; E. a copy of the articles of agreement entered into between underwriters themselves and the attorney-in-fact; F. the names and addresses of all underwriters, whose number shall not be less than five (5); G. a statement that executed contracts or bona fide applications to be concurrently effective have been made for the issuance of not less than one hundred (100) separate policies of insurance; and H. an instrument executed by each and all of the underwriters especially empowering the attorney-in-fact and the superintendent of insurance to accept service of process for each and all of the underwriters in any action on any policy or contract of insurance. History: Laws 1984, ch. 127, § 646. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 55. 46A C.J.S. Insurance §§ 1710, 1719, 1728.
NM Stat § 59A-38-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-4 - Cash or security deposit.

Prior to issuance of certificate of authority applied for, the attorney-in-fact or underwriters shall deposit with the state treasurer through the superintendent for the benefit of all policies and insurance contracts issued covering risks in this state, the sum of twenty-five thousand dollars ($25,000) in cash or securities of like value to be approved by the superintendent; or, in lieu of deposit of cash or securities, the attorney-in-fact may file with the state treasurer through the superintendent a surety bond issued by an authorized surety insurer, in penal sum of twenty-five thousand dollars ($25,000) and in form as prescribed by the attorney general of New Mexico, conditioned for the benefit of all such policies and insurance contracts. Any such deposit shall be subject to the applicable provisions of Article 10 [Chapter 59A, Article 10 NMSA 1978] (administration of deposits) of the Insurance Code. History: Laws 1984, ch. 127, § 647. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 52, 63; 44 Am. Jur. 2d Insurance §§ 1857, 1858. 46A C.J.S. Insurance § 1717.
NM Stat § 59A-38-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-5 - Surplus required.

The superintendent shall not issue or continue a certificate of authority as to a Lloyds Plan underwriters under this article unless it has initially and thereafter maintained a surplus, over all liabilities, of admitted assets in amount of not less than fifty thousand dollars ($50,000). The initial such surplus as contributed to the attorney-in-fact shall consist of cash or of securities approved by the superintendent, and shall include the amount of cash, securities, or surety bond deposited pursuant to Section 647 [59A-38-4 NMSA 1978] of this article. History: Laws 1984, ch. 127, § 648. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 62. 46A C.J.S. Insurance §§ 1710, 1719.
NM Stat § 59A-38-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-6 - Limit on volume of insurance written.

A. A Lloyds Plan underwriters shall not assume nor write insurance on risks in this state or for New Mexico residents which produces a net premium income in excess of ten (10) times the underwriters' surplus. If at any time insurance in force produces a net premium income greater than ten (10) times such surplus, the underwriters shall not write any new insurance business until they can do so without exceeding such limit of net premiums to surplus. B. While the underwriters' surplus is in amount not less than the minimum amount of capital funds (paid-in capital stock) required to be maintained under the Insurance Code by a domestic stock insurer transacting the same kind of insurance, the limit upon volume of business written otherwise applicable under this action shall not apply. C. If in the superintendent's judgment the underwriters have effected and maintain reinsurance or other contracts with insurers authorized to transact insurance in this state, and which reduces the net insurance risk retained by the underwriters so that their operations are safe and solvency not endangered, then the superintendent may continue the certificate of authority to the underwriters without regard to the limitation upon volume of insurance business in force otherwise provided for in this section. History: Laws 1984, ch. 127, § 649. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-38-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-7 - Determining solvency; investments.

A. In determining solvency of a Lloyds Plan underwriters there shall be considered all funds contributed to the guaranty fund by the underwriters and funds accumulated from insurance business transacted and held for the underwriters by the attorney-in-fact. Underwriters shall be deemed solvent when the admitted assets meet the requirements of this article, after deducting from gross admitted assets all outstanding liabilities, including reserve liabilities; and when the guaranty fund, at least to the minimum required amount, is unimpaired. B. Funds of underwriters shall be invested in such property and securities as are eligible under Article 9 [Chapter 59A, Article 9 NMSA 1978] (investments) of the Insurance Code for investment of funds of a domestic stock insurer authorized to transact the same kind of insurance. History: Laws 1984, ch. 127, § 650. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 126.
NM Stat § 59A-38-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-8 - Distribution of profits; how determined.

No profits out of a Lloyds Plan insurance operation shall accrue to an underwriter or underwriters except on the basis of his or their actual investment in cash or eligible securities, and no such profits shall be paid except out of surplus and in proportion to such investment. Such surplus shall be determined by the superintendent in the following manner: A. he shall charge as liabilities the same reserves as are required of authorized stock insurers transacting the same kind of insurance; B. he shall allow the surplus deposits of underwriters as an asset, except that if an underwriter's premium deposit is due and unpaid for ninety (90) days, the premium deposit shall first be charged against such surplus; C. the surplus deposits of underwriters shall not be charged as liabilities; D. all premium deposits due and unpaid for a period not exceeding ninety (90) days shall be allowed as assets; and E. the amount of surplus shall otherwise be determined in accordance with similar determination, as applicable, of the surplus of other authorized stock and mutual insurers. History: Laws 1984, ch. 127, § 651. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 57, 68. 44 C.J.S. Insurance § 85 et seq.; 46A C.J.S. Insurance §§ 1717, 1723.
NM Stat § 59A-38-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-9 - Impairment.

A. Whenever it is found by the superintendent that the minimum surplus required of a Lloyds Plan underwriters under this article has become impaired, the superintendent shall immediately give notice to the attorney-in-fact to appear and show cause why the certificate of authority of the attorney-in-fact should not be revoked; and if within thirty (30) days from the giving of such notice the impairment has not been made good by the underwriters or the attorney-in-fact or otherwise, the superintendent shall forthwith revoke the certificate of authority. B. If the attorney-in-fact or other person makes any advancement of funds to make good the impairment of surplus, the claim for funds so advanced shall as to assets be deferred to claims for losses under policies or insurance contracts. C. If the impairment of surplus is not made good within the time prescribed, the superintendent, in addition to revocation of the certificate of authority, shall commence delinquency proceedings against the underwriters as provided for as to insurers in general under Article 41 [Chapter 59A, Article 41 NMSA 1978] (conservation, rehabilitation, liquidation) of the Insurance Code. History: Laws 1984, ch. 127, § 652. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 68; 44 Am. Jur. 2d Insurance §§ 1857 to 1867.
NM Stat § 59A-38-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-10 - Withdrawal of underwriters.

If the underwriters of a Lloyds Plan insurance operation desire to withdraw from the insurance business they may do so if and when they have satisfied the superintendent that adequate provision has been made through reinsurance or otherwise for payment of all unpaid losses and for reinsurance of all outstanding risks of New Mexico residents or covering property located in New Mexico. Upon being so satisfied the superintendent shall release any bond of the attorney-in-fact and release to the underwriters the deposit and remaining assets. History: Laws 1984, ch. 127, § 653. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 68; 44 Am. Jur. 2d Insurance §§ 1857 to 1867.
NM Stat § 59A-38-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-11 - Lloyds Plan insurance producers; licensing.

The provisions of the Insurance Code as to qualifications, appointment, licensing and regulation of insurance producers apply neither to the attorney-in-fact at Lloyds nor to a salaried representative of Lloyds who receives no commission, but do apply to any insurance producer who receives any commission. History: Laws 1984, ch. 127, § 654; 2016, ch. 89, § 65. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. The 2016 amendment, effective July 1, 2017, replaced "agent" and "solicitor" with "insurance producer" throughout the section; and after "Lloyds nor to", deleted "the" and added "a". Severability. — Laws 2016, ch. 89, § 71 provided that if any part or application of Laws 2016, ch. 89 is held invalid, the remainder or its application to other situations or persons shall not be affected. Am. Jur. 2d, A.L.R. and C.J.S. references. — Agents or brokers, public regulation or control, 10 A.L.R.2d 950.
NM Stat § 59A-38-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-12 - Lloyds Plan an "insurer".

For the purposes of the Insurance Code a Lloyds Plan insurance operation is subject to applicable provisions of this code, and may be therein referred to as an "insurer". History: Laws 1984, ch. 127, § 655. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-38-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-13 - Illegal transactions; penalty.

Any attorney-in-fact of Lloyds Plan underwriters or representative of such attorney-in-fact who exchanges or solicits or negotiates the exchange of any automobile insurance contract without compliance by the attorney-in-fact with the provisions of this article, shall be deemed guilty of a misdemeanor and upon conviction shall be punished by a fine of not to exceed five thousand dollars ($5,000). History: Laws 1984, ch. 127, § 656. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 180.
NM Stat § 59A-38-14 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 38 - Lloyds Plan Automobile Insurance|Section 59A-38-14 - Venue of action.

Actions against the attorney-in-fact or underwriters of a domestic Lloyds Plan insurance operation may be brought either in the county in which the person or property insured is resident or located, or in which the attorney-in-fact has his principal office or place of business in this state. History: Laws 1984, ch. 127, § 657.
NM Stat § 59A-39-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 39 - Reciprocal Insurers|Section 59A-39-1 - "Reciprocal" insurance defined.

As used in the Insurance Code, "reciprocal" insurance is that resulting from an interchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interchange being effectuated through an attorney-in-fact common to all such persons. History: Laws 1984, ch. 127, § 658. 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 §§ 77 to 83.
NM Stat § 59A-39-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 39 - Reciprocal Insurers|Section 59A-39-2 - Scope of chapter; existing insurers.

A. All authorized reciprocal insurers shall be governed by those sections of this article not expressly made applicable to domestic reciprocals. B. After the effective date of the Insurance Code existing authorized reciprocal insurers shall comply with the provisions of this article, and shall make such amendments to their subscribers' agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance. History: Laws 1984, ch. 127, § 659. ANNOTATIONSCompiler's notes. — Laws 1984, ch. 127, § 999 made the Insurance Code effective January 1, 1985.
NM Stat § 59A-39-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 39 - Reciprocal Insurers|Section 59A-39-3 - Insuring powers of reciprocals.

A. A reciprocal insurer may, upon qualifying therefor as provided for by the Insurance Code, transact any kind or kinds of insurance defined by the Insurance Code other than life or title insurances. B. Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is authorized to transact direct. History: Laws 1984, ch. 127, § 660. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-39-4 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 39 - Reciprocal Insurers|Section 59A-39-4 - Name; suits.

A reciprocal insurer shall: A. have and use a business name. The name shall include the word "reciprocal" or "interinsurer," or "interinsurance," or "exchange," or "underwriters," or "underwriting," or "association"; and B. sue and be sued in its own name. History: Laws 1984, ch. 127, § 661.
NM Stat § 59A-39-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 39 - Reciprocal Insurers|Section 59A-39-5 - Attorney.

A. "Attorney", as used in Chapter 59A, Article 39 NMSA 1978, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm or corporation. B. The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of the discharge of its duties as such attorney with respect to the insurer's transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons, firms or corporations. C. The subscribers and the attorney-in-fact comprise a reciprocal insurer and single entity for the purposes of the Insurance Premium Tax Act [7-40-1 to 7-40-10 NMSA 1978] and Sections 59A-6-3 through 59A-6-6 NMSA 1978 as to all operations under the insurer's certificate of authority. History: Laws 1984, ch. 127, § 662; 2018, ch. 57, § 22. ANNOTATIONSThe 2018 amendment, effective January 1, 2020, provided that subscribers of reciprocal agreements and the attorney-in-fact of a reciprocal insurer comprise a single entity for purposes of the Insurance Premium Tax Act and certain sections of the NMSA 1978; in Subsection A, after "as used in", deleted "this article" and added "Chapter 59A, Article 39 NMSA 1978"; in Subsection C, after "for the purposes of", added "the Insurance Premium Tax Act", and after "Sections", deleted "102 to 106 (premium tax and related provisions), inclusive, of the Insurance Code" and added "59A-6-3 through 59A-6-6 NMSA 1978". 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.