New Mexico Administrative Code

A. The office shall consult with the authority about the potential effect of the proposed transaction and incorporate the authority's recommendations into the office's final determination. B. The office may retain actuaries, accountants, attorneys, or other professionals who are …

A. Upon receipt of a complete notice of a proposed transaction: (1) the office shall determine if the transaction is urgently necessary to maintain the solvency of a hospital or if there is an emergency that threatens the continued provision of immediate health care services; (2)…

A. Within 120-days of receiving a completed notice of a proposed transaction, the office shall complete a review, confer with the authority and either: (1) approve the proposed transaction; (2) approve the proposed transaction with conditions; or (3) disapprove the proposed trans…

A. All documents, materials or other information in the possession or control of the office that are obtained by or disclosed to the office or the authority in the course of a review under the act, are confidential. B. Pursuant to Subsection B of Section 59A-2-12 NMSA 1978: (1) u…

A. The person that acquired control over the hospital through an approved or conditionally approved transaction shall submit annual reports for three years from the date the transaction is approved, to the office and to the authority on a form provided by the office and via the e…

This rule applies to any proposed transactions that involve a New Mexico hospital as regulated by the Health Care Consolidation Oversight Act, Chapter 59A, Article 63 NMSA 1978.

Authority for this rule derives from the superintendent's powers under Sections 59A-2-9 and from Section 59A-63-1 et seq., the Health Care Consolidation Oversight Act.

Permanent.

September 10, 2024 unless a later date is cited at the end of a section.

The purpose of this rule is to establish the standards for meeting the requirements of the health care consolidation oversight act and to provide details related to the superintendent's oversight of proposed transactions.

For the purpose of this rule, the following terms have the following meanings: A. "acquisition" has the same meaning as defined in Subsection A of Section 59A-63-2 NMSA 1978; B. "act" means the health care consolidation oversight act, Chapter 59A, Article 63 NMSA 1978; C. "affili…

A. The oversight power of the office pursuant to the act applies to proposed transactions that involve a New Mexico hospital. B. Being subject to the act does not preclude or negate any person regulated pursuant to the insurance hold company law. C. Control is presumed to exist i…

A. Parties to a proposed transaction may submit a written request to the office of general counsel via the email provided on the office's website, for a pre-notice conference to determine if they are required to file a notice or to discuss the potential extent of the review with …

New Mexico Office of Superintendent of Insurance.

A. Format: Forms A, B, C, D, E and F are intended to be guides in the preparation of the statements required by the Insurance Holding Company Law. They are not intended to be blank forms which are to be filled in. The statements filed shall contain the item numbers and captions o…

A. Incorporation by reference: (1) Information required by any item of Form A, Form B, Form D, Form E, or Form F may be incorporated by reference in answer or partial answer to any other item. (2) Information contained in any financial statement, annual report, proxy statement, s…

A. When required: A person required by Section 59A-37-4 NMSA 1978 to file a statement shall furnish the required information on Form A in accordance with the requirements of this rule. Such a person shall also furnish the required information on Form E, hereby made a part of this…

A. When required: An insurer required by Section 59A-37-11 NMSA 1978 to file an annual registration statement shall file Form B in accordance with the requirements of this rule. B. Filings on behalf of affiliates: Any authorized insurer may file a registration statement on behalf…

A. When required: An insurer required by Section 59A-37-11 NMSA 1978 to file an annual registration statement shall file Form C in accordance with the requirements of this rule. B. Where filed: An insurer shall file a copy of Form C in each state in which the insurer is authorize…

A. When required: An insurer required to give notice of a proposed transaction pursuant to Section 59A-37-20 NMSA 1978 shall file Form D in accordance with the requirements of this rule. B. Information to be furnished in Form D: (1) Caption: Place the following caption at the top…

A. When required: If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to Subsection A of Section 59A-37-4 NMSA 1978, that person shall file a pre-acquisition notification using Form E, which was developed pursu…

A. When required: The ultimate controlling person of an insurer required to file an enterprise risk report pursuant to Section 59A-37-30 shall furnish the required information on Form F. B. Information to be furnished on Form F: (1) Caption: Place to following caption at the top …

A. When required: Subject to Section 59A-37-22 NMSA 1978 a registered insurer shall file Form G to report to the superintendent all dividends and other distributions to shareholders within 15 business days following the declaration of such dividends or distributions. B. Informati…

A. When required: (1) A person claiming that they do not, or will not upon the taking of some proposed action, control another subject person shall file Form H in accordance with this rule. (2) A person requesting termination of registration shall file Form H in accordance with t…

This rule applies to all insurers and affiliates subject to Chapter 59A, Article 37, NMSA 1978, (the Insurance Holding Company Law).

A. When required: A domestic insurer required by Section 59A-37-22 NMSA 1978 to give prior notice to the superintendent of the declaration of any extraordinary dividend or any other extraordinary distribution to its shareholders shall file Form I in accordance with the requiremen…

A. Participation by superintendent. With respect to any insurer registered under Section 59A-37-11 NMSA 1978, and in accordance with Subsection C below, the superintendent may participate in a supervisory college for any domestic insurer that is part of an insurance holding compa…

A. The superintendent may act as the group-wide supervisor for any internationally active insurance group in accordance with the provisions of this section. However, the superintendent may otherwise acknowledge another regulatory official as the group-wide supervisor where the in…

A. An insurer required to give notice of a proposed transaction pursuant to 13.2.2.11 NMAC, shall furnish the required information on Form D, hereby made a part of these regulations. B. Agreements for cost sharing services and management services shall at a minimum and as applica…

If any provision of this rule or the application thereof to any person or circumstance, is held invalid, such determination shall not affect other provisions or applications of this rule which can be given effect without the invalid provision or application, and to that end, the …

Authority for this rule derives from the superintendent's powers under Section 59A-2-9 NMSA 1978 and from the Insurance Holding Company Law, Chapter 59A, Article 37, NMSA 1978.

Permanent.

July 24, 2018, unless a later date is cited at the end of a section.

The purpose of this rule is to specify the contents of the statements required to be filed with the superintendent pursuant to the Insurance Holding Company Law.

The following terms have the meaning given, unless the context otherwise requires. Other terms used in this rule have the meanings given in the Insurance Holding Company Law or in Chapter 59A, NMSA 1978, hereafter the Insurance Code. A. "Executive officer" means chief executive o…

The authority to invest in subsidiaries under Subsection B of Section 59A-37-3 NMSA 1978 is in addition to any authority to invest in subsidiaries which may be contained in any other provision of the Insurance Code.

In determining the adequacy and reasonableness of an insurer's surplus, no single factor is necessarily controlling. The superintendent will consider the net effect of all factors set forth in Section 59A-37-21 NMSA 1978 and other factors bearing on the financial condition of the…

New Mexico State Corporation Commission [Public Regulation Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM 87504-1269.

This rule applies to all domestic, foreign and alien companies authorized to transact the business of insurance in the state of New Mexico.

Section 59A-2-9 NMSA 1978.

Permanent.

July 1, 1997, unless a later date is cited at the end of a section or paragraph.

The purpose of this rule is to clarify the reporting requirements for annual statements required by Sections 59A-5-29 and 59A-5-29.1 NMSA 1978.

[RESERVED]

A. NAIC filing: Each authorized insurer shall file a copy of each annual statement and quarterly statement of the insurer with the national association of insurance commissioners in both hard copy and on diskette. This requirement applies to the extent that the national associati…

New Mexico Public Regulation Commission, Insurance Division.

Safekeeping receipts evidencing the holding of any security at an institution other than the designated depository shall be accepted only with the prior express written approval of the superintendent upon a showing of exceptional circumstances.

All statutory deposits required by the New Mexico Insurance Code shall be comprised solely of securities which are: A. described and permitted by Section 59A-10-3 NMSA 1978 as the same may be amended from time to time, and either: (1) traded on a national securities exchange and …

All securities deposited pursuant to the New Mexico Insurance Code shall be valued at their fair market value as of the valuation date.

Depository shall not release nor pay to any person any security held as a deposit hereunder, or any proceeds of the sale of, or payments of principal upon, such securities, except upon written direction of the superintendent, or upon order of a court of competent jurisdiction in …