reglab/housing_qa huggingface dataset:
NM Stat § 59A-43-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-3 - Scope.

A. This article applies to all kinds of direct insurance except life, health, annuities, title guaranty, surety (other than fidelity), credit, mortgage guaranty, ocean marine, surplus line and other coverages written by insurers other than authorized insurers or written by Mexican casualty insurers pursuant to Article 40 [Chapter 59A, Article 40 NMSA 1978] of the Insurance Code. B. This article also does not apply as to motor club coverages or services nor as to any coverage issued by any person not organized under laws providing expressly for formation of insurers nor engaged in business as such an insurer. History: Laws 1984, ch. 127, § 769. ANNOTATIONSSelf-insured employer claiming against insolvent insurer. — A self-insured employer who has a claim against an insolvent insurer may qualify such claim as a covered claim within the scope of this article. In re Mission Ins. Co., 1991-NMSC-080, 112 N.M. 433, 816 P.2d 502. Excess workers' compensation insurance policies are not reinsurance policies or indemnity policies excluded from the Property and Casualty Insurance Guaranty Law (this article). In re Mission Ins. Co., 1991-NMSC-080, 112 N.M. 433, 816 P.2d 502. Excess workers' compensation policies are not excepted from coverage under 59A-43-4C NMSA 1978. In re Mission Ins. Co., 1991-NMSC-080, 112 N.M. 433, 816 P.2d 502.
NM Stat § 59A-43-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-5 - Organization of association.

All member insurers shall remain members of the association as a condition of their authority to transact insurance in this state. The association may take any appropriate form of legal entity available under the laws of this state and approved by the superintendent. For purposes of administration and assessment, the association shall be divided into three (3) separate accounts: A. the workmen's compensation insurance account; B. the automobile insurance account; and C. the account for all other insurance to which this article applies. History: Laws 1984, ch. 127, § 771. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 52. 44 C.J.S. Insurance § 15 et seq.
NM Stat § 59A-43-6 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-6 - Board of directors.

A. The board of directors of the association shall consist of not less than five (5) nor more than nine (9) persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the superintendent. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the superintendent. B. In approving selections to the board, the superintendent shall consider among other things whether all member insurers are fairly represented. C. Members of the board of directors may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors. History: Laws 1984, ch. 127, § 772.
NM Stat § 59A-43-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-8 - Plan of operation.

A. The association shall submit to the superintendent a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the superintendent. If at any time the association fails to submit suitable amendments to the plan, the superintendent shall, after notice and hearing, adopt rules necessary or advisable to effectuate the provisions of this article. The rules shall continue in force until modified by the superintendent or superseded by a plan or amendments submitted by the association and approved by the superintendent. B. All member insurers shall comply with the plan of operation. C. The plan of operation, among other things, shall establish all procedures for conducting the business of the association, for handling its assets, for receiving claims, for keeping records and for the conduct of other activities necessary for execution of the powers and duties of the association. D. The plan of operation may provide that any or all powers and duties of the association, except those under Paragraph (3) of Subsection A and Paragraph (2) of Subsection B of Section 773 [59A-43-7 NMSA 1978] of this article, are delegated to a corporation, association or other organization which performs or will perform functions similar to those of the association, or its equivalent, in two (2) or more states. Such a corporation, association or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this subsection shall take effect only with the approval of both the board of directors and the superintendent, and may be made only to a corporation, association or organization which extends protection not substantially less favorable and effective than that provided by this article. History: Laws 1984, ch. 127, § 774.
NM Stat § 59A-43-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-9 - Duties and powers of superintendent.

A. The superintendent shall: (1) serve on the association a copy of any complaint seeking an order of liquidation with a finding of insolvency against a member insurer at the same time that such complaint is filed with a court of competent jurisdiction; (2) notify the association of the existence of an insolvent insurer not later than three (3) days after he receives notice of the determination of the insolvency; and (3) upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer. B. The superintendent may: (1) require that the association, and agents of the insurer in New Mexico as to policyholders of the insurer in this state, notify the insureds of the insolvent insurer and any other interested parties of the determination of insolvency and of their rights under this article. Such notification shall be by mail at their last known address, where available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation shall be sufficient; (2) suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the superintendent may levy a civil penalty on any member insurer which fails to pay an assessment when due. The civil penalty shall not exceed five percent of the unpaid assessment per month, except that no civil penalty shall be less than one hundred dollars ($100) a month; and (3) revoke the designation of any servicing facility if he finds claims are being handled unsatisfactorily. History: Laws 1984, ch. 127, § 775. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 52. 44 C.J.S. Insurance § 15 et seq.
NM Stat § 59A-43-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-10 - Effect of paid claims.

A. Any person recovering under Chapter 59A, Article 43 NMSA 1978 shall be deemed to have assigned his rights under the policy to the association to the extent of his recovery from the association. Every insured or claimant seeking the protection of that article shall cooperate with the association to the same extent as he would have been required to cooperate with the insolvent insurer. The association shall have no cause of action against the insured of the insolvent insurer for any sums it has paid out except such causes of action as the insolvent insurer would have had if such sums had been paid by the insolvent insurer. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association do not operate to reduce the liability of the insured to the receiver, liquidator or statutory successor for unpaid assessments. B. The receiver, liquidator or statutory successor of an insolvent insurer is bound by settlements of covered claims by the association or a similar organization in another state. The association may make application to the court for reimbursement of such claims and expenses and upon proper application the court shall order appropriate disbursements to be made in accordance with the provisions of Chapter 59A, Article 41 NMSA 1978 in effect at the time the application is acted upon by the court. C. The association shall, within the time set by the receivership court, file with the receiver or liquidator of the insolvent insurer, statements of the covered claims paid by the association and estimates of anticipated claims on the association. History: Laws 1984, ch. 127, § 776; 1993, ch. 320, § 101. ANNOTATIONSThe 1993 amendment, effective June 18, 1993, in Subsection A, substituted "Chapter 59A, Article 43 NMSA 1978" for "this article" and made a stylistic change; and in Subsection B, deleted the former second sentence, relating to the priority of claims and expenses of the association in another state, and added the language beginning "in accordance with" at the end of the subsection. Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 Am. Jur. 2d Insurance § 1820.
NM Stat § 59A-43-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-11 - Nonduplication of recovery.

A. Any person having a claim against any insurer under any provision in an insurance policy including but not limited to uninsured motorist coverage other than a policy of an insolvent insurer which is also a covered claim, shall be required to exhaust first his rights under the policy. An insured of an insolvent insurer and possessing no other insurance coverage applicable to a specific claim shall be deemed to be "uninsured" for uninsured motorist coverage purposes. Any amount payable on a covered claim under this article shall be reduced by the amount of any recovery available under such insurance policy. No action against an insured of an insolvent insurer shall be tried prior to the exhaustion of all other available sources of recovery. B. Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that, if it is a first party claim for damage to property with a permanent location, he shall seek recovery first from the association of the location of the property, and, if it is a workmen's compensation claim, he shall seek recovery first from the association of the residence of the claimant. Any recovery under this article shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent. History: Laws 1984, ch. 127, § 777. ANNOTATIONSOffset of proceeds from another insurance policy. — Subsection A requires an offset of proceeds available to the claimant from another insurance policy that is not insolvent and does not constitute a "covered claim" under this article. In addition, the offset is applied against the insured's liability, or against the claimant's damages as the case may be, not against the statutory amount of liability of the association. Aztec Well Servicing Co. v. Property & Cas. Ins. Guar. Ass'n, 1993-NMSC-023, 115 N.M. 475, 853 P.2d 726. Am. Jur. 2d, A.L.R. and C.J.S. references. — Uninsured or underinsured motorist insurance: validity and construction of policy provision purporting to reduce recovery by amount of social security disability benefits or payments under similar disability benefits law, 24 A.L.R.5th 766. Validity, construction, and application of exclusion of government vehicles from uninsured motorist provision, 58 A.L.R.5th 511.
NM Stat § 59A-43-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-12 - Prevention of insolvencies.

To aid in the detection and prevention of insurance insolvencies: A. the board of directors shall, upon majority vote, notify the superintendent of any information indicating any member insurer may be insolvent or in a financial condition hazardous to the policyholders or the public; B. the board of directors may, upon majority vote, request that the superintendent order an examination of any member insurer which the board in good faith believes may be in a financial condition hazardous to the policyholders or the public. Within thirty (30) days of the receipt of such request, the superintendent shall begin the examination. The examination may be conducted as a national association of insurance commissioners examination or may be conducted by persons designated by the superintendent. The cost of the examination shall be paid by the association and the examination report shall be treated as are other examination reports. In no event shall the examination report be released to the board of directors prior to its release to the public, but this does not preclude the superintendent from complying with Subsection C of this section. The superintendent shall notify the board of directors when the examination is completed. The request for an examination shall be kept on file by the superintendent but it shall not be open to public inspection prior to the release of the examination report to the public; C. the superintendent shall report to the board of directors when he has reasonable cause to believe that any member insurer examined or being examined at the request of the board of directors may be insolvent or in a financial condition hazardous to the policyholders or the public; D. the board of directors may, upon majority vote, make reports and recommendations to the superintendent upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer. Such reports and recommendations shall not be considered public documents; E. the board of directors may, upon majority vote, make recommendations to the superintendent for the detection and prevention of insurers' insolvencies; and F. the board of directors shall, at the conclusion of any insurance insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of the insolvency based on information available to the association and submit such report to the superintendent. History: Laws 1984, ch. 127, § 778.
NM Stat § 59A-43-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-13 - Examination of association; financial reports.

The association is subject to examination and regulation by the superintendent. The board of directors shall submit, not later than June 30 each year, a financial report for the preceding calendar year in a form approved by the superintendent. History: Laws 1984, ch. 127, § 779.
NM Stat § 59A-43-14 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-14 - Appeals.

A. A claimant whose claim is denied in whole or in part by the association may, pursuant to Chapter 59A, Article 43 NMSA 1978, request the receivership court to review the decision of the association. A request for review shall be filed within thirty days of the denial. The receivership court shall have jurisdiction of all claims and the decision of the court shall be binding on both the claimant and the association. B. A member insurer may appeal to the superintendent from an action of the board of directors of the association by filing with the superintendent a notice of appeal within thirty days after the action appealed from. C. A final order of the superintendent on appeal is subject to judicial review by an action in the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978. History: Laws 1984, ch. 127, § 780; 1998, ch. 55, § 67; 1999, ch. 265, § 70. ANNOTATIONSCross references. — For procedures governing administrative appeals to the district court, see Rule 1-074 NMRA. For scope of review of the district court, see Zamora v. Village of Ruidoso Downs, 120 N.M. 778, 907 P.2d 182 (1995). The 1999 amendment, effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1" in Subsection C. The 1998 amendment, effective September 1, 1998, in Subsection A, substituted "Chapter 59A, Article 43 NMSA 1978" for "this article", deleted "(30)" following "thirty" in Subsections A and B, rewrote Subsection C, and made minor stylistic changes throughout the section.
NM Stat § 59A-43-15 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-15 - Recognition of assessment in rates.

The rates and premiums charged for insurance policies to which this article apply [applies] shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer, less any amounts returned to the member insurer by the association, and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer. History: Laws 1984, ch. 127, § 781. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 59A-43-16 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-16 - Immunity.

There shall be no liability on the part of and no cause of action of any nature shall arise against, any member insurer, the association or its agents or employees, the board of directors or the superintendent or his representative for any action taken by them in the performance of their powers and duties under this article. The meetings, activites [activities], recommendations and decisions of the board of directors of the association as required or permitted in this article shall not be open to public inspection, nor considered public documents, nor subject to Sections 10-15-1 through 10-15-4 NMSA 1978. History: Laws 1984, ch. 127, § 782. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 63C Am. Jur. 2d Public Officers and Employees §§ 301, 302. 67 C.J.S. Officers and Public Employees, § 206 et seq.
NM Stat § 59A-43-17 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-17 - Stay of proceedings; reopening of default judgments.

All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall be stayed for not to exceed six (6) months from the date the insolvency is determined to permit proper defense by the association of all pending causes of action. As to any covered claims arising from a judgment under any decision, verdict or finding based on the default of the insolvent insurer or its failure to defend an insured, the association either on its own behalf or on behalf of the insured may apply to have the judgment, order, decision, verdict or finding set aside by the same court or administrator that made it and may defend against the claim on the merits. History: Laws 1984, ch. 127, § 783.
NM Stat § 59A-43-18 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 43 - Property and Casualty Insurance Guaranty Fund|Section 59A-43-18 - Termination; distribution of funds.

A. The superintendent shall by order terminate the operation of the association as to any kind of insurance covered by this article with respect to which he has found, after hearing, that there is in effect a statutory or voluntary plan which: (1) is a permanent plan which is adequately funded or for which adequate funding is provided; and (2) extends, or will extend to the New Mexico policyholders and residents protection and benefits with respect to insolvent insurers not substantially less favorable and effective to the policyholders and residents than the protection and benefits provided with respect to such kinds of insurance under this article. B. The superintendent shall by the same order authorize discontinuance of future payments by insurers to the association with respect to the same kinds of insurance, but assessments and payments shall continue, as necessary, to liquidate covered claims of insurers adjudged insolvent prior to the order and the related expenses not covered by the other plan. C. If operation of the association is terminated as to all kinds of insurance otherwise within its scope, the association, as soon as possible thereafter, shall distribute the balance of money and assets remaining, after discharge of the functions of the association, with respect to prior insurer insolvencies not covered by another plan, together with related expenses, to the insurers which are then writing in this state policies of the kinds of insurance covered by this article and which had made payments to the association, pro rata upon the basis of the aggregate of such payments made by the respective insurers during the period of five (5) years next preceding the date of the order. Upon completion of the distribution with respect to all of the kinds of insurance covered by this article, this shall be deemed to have expired. History: Laws 1984, ch. 127, § 784.
NM Stat § 59A-44-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 44 - Fraternal Benefit Societies|Section 59A-44-1 - Fraternal benefit societies.

Any incorporated society, order or supreme lodge, without capital stock, including one exempted under the provisions of Paragraph (2) of Subsection A of Section 59A-44-40 NMSA 1978, whether incorporated or not, conducted solely for the benefit of its members and their beneficiaries and not for profit, operated on a lodge system with ritualistic form of work, having a representative form of government, and which provides benefits in accordance with Chapter 59A, Article 44 NMSA 1978, is hereby declared to be a fraternal benefit society. History: 1978 Comp., § 59A-44-1, enacted by Laws 1989, ch. 388, § 1. ANNOTATIONSRepeals and reenactments. — Laws 1989, ch. 388, § 1, repealed 59A-44-1 NMSA 1978, as enacted by Laws 1984, ch. 127, § 786, relating to the definition of fraternal benefit societies, and enacted a new section, effective January 1, 1990. Insurance only incidental part of organization's purpose. — The fraternal benefit societies and the insurance available to a member of such fraternal society is contemplated in the law to be an incidental part of the operation of a lodge or fraternal organization. It is not contemplated that a lodge or fraternal organization set itself up with the sole purpose of insuring members. This would be in direct contravention of the statutes relating to the fraternal benefit societies and lodges, which organizations and lodges frequently provide insurance for the members of that organization as an additional service to the members. 1953 Op. Att'y Gen. No. 53-5671. Am. Jur. 2d, A.L.R. and C.J.S. references. — 36 Am. Jur. 2d Fraternal Orders and Benefit Societies § 1. Benefit or fraternal societies as insurance companies, 63 A.L.R. 735, 100 A.L.R. 1449, 119 A.L.R. 1241. 10 C.J.S. Beneficial Associations § 2.