reglab/housing_qa huggingface dataset:
NM Stat § 59A-41-47 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-47 - Levy of assessment; domestic mutual, reciprocal insurers.

A. Upon the basis of the report provided for in Section 738 [59A-41-46 NMSA 1978] of this article including any amendments thereof, the court, ex parte, may levy one or more assessments against all persons who, as shown by the record of the insurer, were members (if a mutual insurer) or subscribers (if a reciprocal insurer) at any time within one year prior to the date of issuance of the court's order under Section 725 [59A-41-33 NMSA 1978] of this article. B. Such assessment shall cover the excess of the probable liabilities over the reasonable value of the assets, together with the estimated cost of collection and percentage of incollectibility thereof. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this article or pursuant to any other provisions of the laws of New Mexico, shall be for no greater amount than specified in the policy or policies of the member or subscriber and as limited under the laws of New Mexico; except that if the court finds that the policy was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, the court may determine the upper limit of such assessment upon the basis of such minimum rate. C. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with the Insurance Code. D. Where the insurer has levied an assessment prior to the court's order under the proceeding in Section 725 of this article and the superintendent has ratified such assessment with the court's approval such ratification shall in no way be deemed an assessment as set out in Subsections A, B and C of this section. History: Laws 1984, ch. 127, § 739. 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 §§ 597, 598, 600.
NM Stat § 59A-41-48 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-48 - Order for payment of assessment; domestic mutual, reciprocal insurers.

After levy of assessment as provided in Section 739 [59A-41-47 NMSA 1978] of this article, upon the filing of a further detailed report by the superintendent, the court shall issue an order directing each member (if a mutual insurer) or each subscriber (if a reciprocal insurer) if he shall not pay the amount assessed against him to the superintendent on or before the day to be specified in the order, to show cause why he should not be held liable to pay such assessment together with costs as set out in Section 742 [59A-41-50 NMSA 1978] of this article and why the superintendent should not have judgment therefor. History: Laws 1984, ch. 127, § 740.
NM Stat § 59A-41-49 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-49 - Assessment order, publication and transmittal.

The superintendent shall cause a notice of an assessment order, issued pursuant to Section 740 [59A-41-48 NMSA 1978] of this article, setting forth a brief summary of the contents of such order to be: A. published in such manner as shall be directed by the court; and B. enclosed in a sealed envelope, addressed and mailed postage prepaid to each member or subscriber liable thereunder at his address last of record with the insurer, at least twenty (20) days before the return day of the order to show cause provided for in Section 740 of this article. History: Laws 1984, ch. 127, § 741.
NM Stat § 59A-41-50 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-50 - Judgment upon the assessment.

A. On the return day of the order to show cause provided for in Section 740 [59A-41-48 NMSA 1978] of this article if the member or subscriber does not appear and serve verified objections upon the superintendent, the court shall make an order adjudging that such member or subscriber is liable for the amount of the assessment against him together with ten dollars ($10) costs, and that the superintendent may have judgment against the member or subscriber therefor. B. If on such return day the member or subscriber shall appear and serve verified objections upon the superintendent there shall be a full hearing before the court or a referee to hear and determine, who, after such hearing, shall make an order either negating or affirming his liability to pay the whole or some part thereof together with twenty-five dollars ($25) costs and the necessary disbursements incurred at such hearing, and directing that the superintendent in the latter case may have judgment therefor. C. A judgment upon any such order shall have the same force and effect, and may be entered and docketed, and may be appealed from as if it were a judgment in an original action brought in the court in which the proceeding is pending. History: Laws 1984, ch. 127, § 742. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 607 to 611. 44 C.J.S. Insurance § 180 et seq.
NM Stat § 59A-41-51 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-51 - Summary proceedings; superintendent's corrective orders authorized.

A. If the superintendent determines after a hearing that any insurer has committed or engaged in, or is committing or engaging in, or is about to commit or engage in any act, practice or transaction that would subject it to formal delinquency proceedings under this article, he shall make and serve upon the insurer and other persons involved, such orders (other than seizure orders under Sections 746 and 747 [59A-41-54 and 59A-41-55 NMSA 1978] of this article) as he deems reasonably necessary to correct, eliminate, or remedy such conduct, condition or ground. Orders to cure impairment of capital or surplus are subject to Section 92 [59A-5-25 NMSA 1978] of the Insurance Code. B. If the superintendent believes that irreparable harm to the insurer or its policyholders, creditors or the public may occur unless his order is issued with immediate effect, he may make and serve his order without notice and before hearing, and shall simultaneously therewith serve upon the insurer and other persons involved a notice of hearing. C. The superintendent's order and notice of hearing shall be served by personal service in any manner provided by the New Mexico Rules of Civil Procedure. D. This section, and Sections 744 through 749 [59A-41-52 to 59A-41-57 NMSA 1978] of this article, are supplemental to and not in contradiction or modification of Sections 716 through 718 [59A-41-24 to 59A-41-26 NMSA 1978] or any other sections of this article as to insurers in hazardous financial condition. History: Laws 1984, ch. 127, § 743. ANNOTATIONSCross references. — For Rules of Civil Procedure, see Rule 1-001 NMRA et seq.
NM Stat § 59A-41-52 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-52 - Summary proceedings; appeal from superintendent's order.

If the superintendent has issued a summary order before hearing as provided in Subsection B of Section 743 [59A-41-51 NMSA 1978] of this article, any person upon whom such order is served may waive the superintendent's hearing and apply for an immediate judicial relief available under law and without first exhausting his administrative remedies. History: Laws 1984, ch. 127, § 744.
NM Stat § 59A-41-53 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-53 - Summary proceedings; enforcement; penalty.

A. The superintendent may apply for and the district court for Santa Fe county or the county in which the insurer has its principal office may grant such restraining orders, temporary and permanent injunctions and other orders as may be deemed necessary to enforce the superintendent's order. B. Violation of any order of the superintendent issued under Section 59A-41-51 NMSA 1978 by any person as to whom the order is in effect shall subject such person to a penalty of not more than ten thousand dollars ($10,000), to be collected in a civil action brought by the attorney general in the name of the state of New Mexico. The attorney general shall deposit all funds so collected with the state treasurer for credit as provided for insurance department receipts in general under Section 59A-6-5 NMSA 1978. History: Laws 1984, ch. 127, § 745; 1987, ch. 259, § 25.
NM Stat § 59A-41-54 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-54 - Summary proceedings; seizure under court order.

A. Upon filing by the superintendent in the district court for Santa Fe county or the county in which the insurer has its principal office of his verified petition alleging any ground for a formal delinquency proceeding against an insurer under this article and that the interests of the insurer's policyholders or creditors or the public will be jeopardized by delay, and setting forth the order deemed necessary by the superintendent, the court shall, ex parte and without notice or hearing, issue the requested order. The requested order may: (1) direct the superintendent to take possession and control of all or part of the property, books, accounts and records of the insurer and the premises occupied by it for transaction of its business in this state; and (2) until further order of the court, enjoin the insurer and its officers, managers, agents and employees from removal, concealment or other disposition of its property, and from transaction of its business, except with the superintendent's written consent. B. The court's order shall be for such duration, specified in the order, as the court deems necessary to enable the superintendent to ascertain the insurer's condition. On motion of any party or on its own motion, the court may hold such hearings as it deems desirable after such notice as it deems appropriate, and extend or shorten the duration or modify the terms of the order. The court shall vacate the seizure order if the superintendent fails to commence a formal proceeding under this article after reasonable opportunity to do so; and a seizure order is automatically terminated by issuance of the court's order pursuant to formal delinquency proceedings under this article. C. Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer. History: Laws 1984, ch. 127, § 746.
NM Stat § 59A-41-55 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-55 - Summary proceedings; seizure under superintendent's order.

A. If it appears to the superintendent that the interests of policyholders, creditors or the public will be jeopardized by delay incident to requesting a court seizure order, then on any ground which would justify a court seizure order under Section 59A-41-54 NMSA 1978, and without notice and without applying to the court, the superintendent may issue a seizure order which must contain a statement verified by him of the grounds for his action. As directed by the seizure order, the superintendent's representatives shall forthwith take possession and control of all or part of the property, books, accounts and records of the insurer and of the premises in this state occupied by the insurer for transaction of its business. The superintendent shall retain possession and control until the order is vacated or is replaced by an order of court pursuant to Subsection B of this section, or pursuant to a formal proceeding under Chapter 59A, Article 41 NMSA 1978. B. At any time after seizure under Subsection A of this section, the insurer may apply to the district court for Santa Fe county. The court shall thereupon order the superintendent to appear forthwith and shall thereafter proceed as if the order were a court seizure order issued under Section 59A-41-54 NMSA 1978. C. Every peace officer of this state shall assist the superintendent in making and enforcing any such seizure, and every sheriff and police department shall furnish the superintendent with such deputies, patrolmen or officers as may be necessary for the purpose. D. Entry of a seizure order under this section does not constitute an anticipatory breach of any contract of the insurer. History: Laws 1984, ch. 127, § 747; 1987, ch. 259, § 26.
NM Stat § 59A-41-56 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-56 - Summary proceedings; conduct of administrative and judicial hearings.

A. The superintendent shall hold all hearings in summary proceedings privately unless the insurer requests a public hearing, in which case the hearing shall be public. B. The court may hold all hearings in summary proceedings and judicial reviews thereof privately in chambers, and shall do so on request of the insurer proceeded against. C. In all summary proceedings and judicial reviews thereof, all records of the insurer, other documents, and all insurance department files and court records and papers, so far as they pertain to or are part of the record of the summary proceedings, shall be and remain confidential except as necessary to obtain compliance therewith, unless the court after hearing arguments by the parties in chambers, orders otherwise, or unless the insurer requests that the matter be made public. Until the court otherwise orders, all papers filed with the clerk of the court in the matter shall be held by him in a confidential file. D. If at any time it appears to the court that any person whose interest is or will be substantially affected by an order did not appear at the hearing and has not been served, the court may order that notice be given and the proceedings be adjourned to give such person an opportunity to appear, on such terms as may be reasonable. History: Laws 1984, ch. 127, § 748.
NM Stat § 59A-41-57 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 41 - Conservation, Rehabilitation and Liquidation|Section 59A-41-57 - Summary proceedings; penalty for refusal to deliver property, records.

Any person having possession or custody of and refusing to deliver to the superintendent or his representative upon request any of the property, books, accounts, documents or other records of an insurer against which a seizure order has been issued by the superintendent or by the court, as provided in Sections 743 through 748 [59A-41-51 to 59A-41-56 NMSA 1978] of this article, unless a greater monetary or other applicable penalty is provided by other law, is upon conviction thereof guilty of a misdemeanor punishable by a fine not to exceed five hundred dollars ($500). History: Laws 1984, ch. 127, § 749.
NM Stat § 59A-42-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 42 - Life and Health Insurance Guaranty Association|Section 59A-42-1 - Short title.

Chapter 59A, Article 42 NMSA 1978 may be cited as the "Life and Health Insurance Guaranty Association Act". History: Laws 1984, ch. 127, § 750; 2012, ch. 9, § 4. ANNOTATIONSThe 2012 amendment, effective July 1, 2012, deleted "This Article" and added "Chapter 59A, Article 42 NMSA 1978"; and after "Insurance Guaranty", deleted "Law" and added "Association Act". Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 1, 9, 103, 173; 44 Am. Jur. 2d Insurance §§ 1653, 2038. 44 C.J.S. Insurance §§ 111, 126.
NM Stat § 59A-42-2 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 42 - Life and Health Insurance Guaranty Association|Section 59A-42-2 - Purpose.

The purpose of the Life and Health Insurance Guaranty Association Act is to provide a mechanism to facilitate continuation of coverage and the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and avoid financial loss to claimants or policyholders because of insolvency of an insurer, to assist in detection and prevention of insurer insolvencies and to provide an association to assess the cost of such protection among insurers. History: Laws 1984, ch. 127, § 751; 2012, ch. 9, § 5. ANNOTATIONSThe 2012 amendment, effective July 1, 2012, after "The purpose of", deleted "this article" and added "the Life and Health Insurance Guaranty Association Act". Temporary provisions. Laws 2012, ch. 9, § 21, provided that: A. The accounts maintained pursuant to the Life and Health Insurance Guaranty Law and in effect on July 1, 2012 shall continue in full force as the accounts maintained pursuant to the Life and Health Insurance Guaranty Association Act, modified as necessary to comply with that act. B. The life insurance guaranty association existing pursuant to the Life and Health Insurance Guaranty Law on July 1, 2012 is the life and health insurance guaranty association organized pursuant to the Life and Health Insurance Guaranty Association Act, subject to the provisions of that act. C. The insurer members of the board of directors of the life insurance guaranty association serving pursuant to the Life and Health Insurance Guaranty Law on July 1, 2012 shall serve as the insurer members of the board of directors of the life and health insurance guaranty association pursuant to the provisions of the Life and Health Insurance Guaranty Association Act. D. The plan of operation in effect pursuant to the Life and Health Insurance Guaranty Law on July 1, 2012 shall serve as the plan of operation required pursuant to the Life and Health Insurance Guaranty Association Act, modified as necessary to comply with that act. E. An action, including an assessment, or an obligation of the life insurance guaranty association, board of directors of the life insurance guaranty association or superintendent of insurance initiated or created but not completed pursuant to the Life and Health Insurance Guaranty Law prior to July 1, 2012, shall continue until completed pursuant to the provisions of the Life and Health Insurance Guaranty Law.
NM Stat § 59A-42-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 42 - Life and Health Insurance Guaranty Association|Section 59A-42-5 - Organization of association; participation.

A. All insurers shall organize and remain members of the association as a condition of their authority to transact insurance business covered by Section 59A-42-4 NMSA 1978. The association may take any appropriate form of legal entity available under the laws of this state and approved by the superintendent. The association shall perform its functions under the plan of operation established and approved pursuant to Section 59A-42-9 NMSA 1978 and shall exercise its powers through the board. For purposes of assessment and administration, the association shall maintain two accounts: (1) the life insurance and annuity account, which includes the following subaccounts: (a) a life insurance account; (b) an annuity account, which includes annuity contracts owned by a governmental retirement benefit plan, or its trustee, established pursuant to Section 401, 403(b) or 457 of the federal Internal Revenue Code of 1986, but otherwise excludes unallocated annuities; and (c) an unallocated annuity account, which excludes contracts owned by a governmental retirement benefit plan, or its trustee, established pursuant to Section 401, 403(b) or 457 of the federal Internal Revenue Code of 1986; and (2) the health insurance account. B. The association shall be supervised by the superintendent and shall be subject to the applicable provisions of the insurance laws of New Mexico. Meetings or records of the association may be opened to the public upon majority vote of the board of the association. History: Laws 1984, ch. 127, § 754; 2012, ch. 9, § 8. ANNOTATIONSCross references. — For Sections 401, 403(b) and 457 of the federal Internal Revenue Code of 1986, see 26 U.S.C.§§ 401, 403(b) and 457, respectively. The 2012 amendment, effective July 1, 2012, created the accounts of the association; provided for the supervision of the association; provided for the opening of meetings and records to the public; in Subsection A, in the third sentence, after "approved pursuant to", deleted "this article" and added "Section 59A-42-9 NMSA 1978"; and in the fourth sentence, after "shall maintain", deleted "three (3)" and added "two"; after "accounts", deleted "A. the health insurance account", "B. the life insurance account; and", and "C. the annuity account" and added Paragraph (1), including Subparagraphs (a) through (c), and Paragraph (2); and added Subsection B.
NM Stat § 59A-42-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 42 - Life and Health Insurance Guaranty Association|Section 59A-42-6 - Board of directors.

A. The board of directors of the association shall consist of not less than five nor more than nine member insurers serving terms as established in the plan of operation. The insurer members of the board shall be selected by member insurers subject to the approval of the superintendent. In addition, two persons who are public representatives shall be appointed by the superintendent to the board. A public representative shall not be an officer, director or employee of an insurance company or a person engaged in the business of insurance. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members for member insurers, subject to approval of the superintendent, and by the superintendent for public representatives. B. In approving insurer member selections, the superintendent shall consider among other things whether all member insurers are fairly represented. C. Members of the board may be reimbursed from the assets of the association for reasonable and necessary expenses incurred by them as members of the board, but the amount of that reimbursement shall not exceed the guidelines provided by the approved plan of operation. History: Laws 1984, ch. 127, § 755; 1993, ch. 320, § 100; 2012, ch. 9, § 9. ANNOTATIONSThe 2012 amendment, effective July 1, 2012, required the appointment of two public members of the board of directors, one of whom must be associated with an insurance company or engaged in the insurance business; in Subsection A, in the first sentence, after "nor more than nine", deleted "persons" and added "member insurers", in the second sentence, after "The", added "insurer", added the third and fourth sentences, in the fifth sentence, after "remaining board members", added "for member insurers", and after "approval of the superintendent", added the remainder of the sentence; and in Subsection B, after "In approving", added "insurer member". The 1993 amendment, effective June 18, 1993, in Subsection A, made stylistic changes in the first sentence, and inserted "board" preceding "members" in the second sentence; and, in Subsection C, substituted "approved plan of operation" for "Per Diem and Mileage Act (10-8-1 to 10-8-7 NMSA 1978)".