Chapter 59A — Chapter 59A

A. Upon receipt of a taxpayer's insurance-relevant information from the taxation and revenue department, the authority shall assess the taxpayer's eligibility or the eligibility of members of the taxpayer's household for health coverage programs. If the required insurance-relevan…

A. Upon receipt of a taxpayer's insurance-relevant information from the department, the exchange shall assess the taxpayer's eligibility or the eligibility of members of the taxpayer's household for qualified health plans and financial assistance. If the required insurance-releva…

ANNOTATIONS Recompilations. — Laws 1990, ch. 110, § 8 recompiled former 59A-24-8 NMSA 1978, relating to medicare supplement policy provisions for individuals who are eligible for medical benefits under the medicaid program, as 59A-24A-15 NMSA 1978, effective May 16, 1990. ARTICLE…

Chapter 59A, Article 24A NMSA 1978 may be cited as the "Medicare Supplement Act". History: Laws 1989, ch. 28, § 1; 1992, ch. 3, § 1.

Medicare supplement policies and certificates shall have a notice printed prominently on the first page of the policy or certificate or attached to the policy stating that the applicant shall have the right to return the policy or certificate within thirty days of delivery and ha…

and other policies designed to reimburse or pay as the result of hospitalization for hospital, medical or surgical expenses. The superintendent may establish reasonable rules and regulations to restrict the sale of medicare supplement policies and other policies designed to reimb…

A. Every issuer of medicare supplement insurance policies or certificates in this state shall provide a copy of any medicare supplement advertisement intended for use in this state, whether through written, radio or television medium, to the superintendent for review and approval…

Regulations adopted pursuant to the Medicare Supplement Act shall be subject to the provisions of 59A-2-9 NMSA 1978. History: Laws 1989, ch. 28, § 13.

In addition to any other applicable penalties for violations of the Insurance Code, the superintendent may impose penalties pursuant to the provisions of Section 59A-1-18 NMSA 1978, for a violation of the Medicare Supplement Act. The superintendent may require issuers violating a…

individuals who are eligible for medical benefits under the medicaid program. A. Each medicare supplement policy that is delivered, issued for delivery or renewed in this state shall include provisions that require benefits paid on behalf of a child or other insured person under …

Rules and regulations adopted pursuant to the provisions of the Medicare Supplement Act shall be subject to the provisions of Section 59A-2-9 NMSA 1978. History: 1978 Comp., § 59A-24A-16, enacted by Laws 1992, ch. 3, § 13.

A. Except as otherwise specifically provided, the Medicare Supplement Act shall apply to: (1) all medicare supplement policies delivered or issued for delivery in this state on or after the effective date of that act; (2) all certificates issued under group medicare supplement po…

As used in the Medicare Supplement Act: A. "applicant" means: (1) in the case of an individual medicare supplement policy, the person who seeks to contract for insurance benefits; and (2) in the case of a group medicare supplement policy, the proposed certificate holder; B. "cert…

promulgate regulations. A. No medicare supplement policy or certificate, in force in this state, shall contain benefits that duplicate benefits provided by medicare. B. Notwithstanding any other provisions of law of this state, a medicare supplement policy or certificate shall no…

ANNOTATIONS Repeals. — Laws 1992, ch. 3, § 14 repealed 59A-24A-5 NMSA 1978, as amended by Laws 1990, ch. 110, § 5, relating to authority to promulgate regulations, effective March 2, 1992. For provisions of former section, see the 1991 NMSA 1978 on NMOneSource.com.

Medicare supplement policies and other policies designed to reimburse or pay as the result of hospitalization for the hospital, medical and surgical expenses of persons eligible for medicare shall return to policyholders benefits that are reasonable in relation to the premium cha…

ANNOTATIONS Repeals. — Laws 1992, ch. 3, § 14 repealed 59A-24A-7 NMSA 1978, as enacted by Laws 1989, ch. 28, § 7, relating to filing requirements for out-of-state group policies, effective March 2, 1992. For provisions of former section, see the 1991 NMSA 1978 on NMOneSource.com.

A. The superintendent shall adopt regulations for the review and approval or disapproval of all rate filings or forms made pursuant to Chapter 59A, Articles 15, 18, 44, 46 and 47 NMSA 1978. During the initial review periods provided under Chapter 59A, Articles 15, 18, 44, 46 and …

A. In order to provide for full and fair disclosure in the sale of medicare supplement policies or certificates, no medicare supplement policy or certificate shall be delivered or issued for delivery in this state unless an outline of coverage is delivered to the applicant at the…

A. All life insurance and all health insurance in connection with loans or other credit transactions shall be subject to the provisions of this article, except such insurance in connection with a loan or other credit transaction of more than ten (10) years' duration; nor shall in…

A credit life or credit health insurance policy shall be delivered or issued for delivery in this state only by an insurer holding a certificate of authority to transact such insurance in this state, and shall be issued only through a duly appointed and licensed agent of the insu…

A. All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. B. All claims shall be …

When credit life or credit health insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by him or…

violations. The director of the financial institutions division of this state, in connection with his examination of lending institutions under his supervision, regulation or control, shall investigate and examine the procedures and policies of such lending agencies regarding iss…

In addition to any other penalty provided by law, any person violating the superintendent's order under this article after the order has become final and while the order is in effect, shall upon conviction thereof forfeit and pay to the state of New Mexico not to exceed five hund…

The purpose of this article is to promote the public welfare by regulating credit life insurance and credit health insurance. Nothing in this article is intended to prohibit or discourage reasonable competition. The provisions of this article shall be liberally construed. History…

For the purposes of this article: A. "credit life insurance" means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction; B. "credit accident and health insurance" means insurance on a debtor to provide indemnity for payme…

Credit life insurance and credit health insurance shall be issued only in the following forms: A. individual policies of life insurance issued to debtors on the term plan; B. individual policies of health insurance issued to debtors on a term plan or disability benefit provisions…

A. The initial amount of credit life insurance shall not exceed the total amount repayable under the contract of indebtedness and, where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amoun…

The term of any credit life or credit health insurance shall, subject to acceptance by the insurer, commence on the date when the debtor becomes obligated to the creditor, or the date when the debtor applies for such insurance, whichever is later, except that where a group policy…

debtors. A. All credit life insurance and credit health insurance shall be evidenced by an individual policy, or in the case of group insurance by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor. B. Each such …

A. All policies, certificates of insurance, notice of proposed insurance, applications for insurance, endorsements and riders delivered or issued for delivery in this state and the schedules of premium rates pertaining to them shall be filed by the insurer with the superintendent…

A. Any insurer may revise its schedules of premium rates from time to time and shall file such revised schedules with the superintendent. No insurer shall issue any credit life insurance policy or credit health insurance policy for which the premium rate exceeds that determined b…

This article [Chapter 59A, Article 26 NMSA 1978] applies as to certain contracts of casualty insurance, as identified in the respective sections of this article, other than mortgage guaranty insurance contracts, motor vehicle insurance contracts and employer's liability or workme…

This article [Chapter 59A, Article 27 NMSA 1978] applies only as to contracts of marine and transportation insurance, as such insurance is defined in Section 111 [59A- 7-5 NMSA 1978][repealed] of the Insurance Code. All such insurance contracts shall be subject to the provisions,…

This article [Chapter 59A, Article 28 NMSA 1978] shall apply only with respect to contracts of mortgage guaranty insurance as defined in Section 112 [59A-7-6 NMSA 1978] of the Insurance Code. Such contracts are also subject to the applicable provisions of Article 18 [Chapter 59A,…

This article [Chapter 59A, Article 29 NMSA 1978] may be cited as the "FAIR Plan Act" (fair access to insurance requirements). History: 1978 Comp., § 59A-29-1, enacted by Laws 1985, ch. 61, § 1.

All insurers licensed to write and writing essential property insurance, as defined by the superintendent of insurance, in New Mexico on a direct basis are authorized, subject to approval and regulation by the superintendent of insurance, to establish and maintain a FAIR plan and…

Each insurer authorized to write and writing essential property insurance in New Mexico shall be required to become and remain a member of the FAIR plan and the underwriting association and comply with the requirements thereof as a condition of its authority to transact property …

The FAIR plan and articles of association shall make provision for an underwriting association having authority on behalf of its members to cause to be issued property insurance policies, to reinsure in whole or in part any such policies and to cede any such reinsurance. The plan…

The governing committee of the New Mexico property insurance program may, on its own initiative or at the request of the superintendent of insurance, amend the plan and articles, subject to approval by the superintendent. History: 1978 Comp., § 59A-29-5, enacted by Laws 1985, ch.…

A. A person aggrieved by an action or decision of the administrators of the FAIR plan or the underwriting association or of any insurer as a result of its participation may appeal to the superintendent within thirty days from the date of the action or the decision. The superinten…

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 governing committee or the superintendent or his representative for any action taken by them in the performanc…

ANNOTATIONS Repeals. — Laws 1993, ch. 115, § 1 repealed 59A-29-8 NMSA 1978, as enacted by Laws 1985, ch. 61, § 8, providing a termination date for the FAIR Plan Act but providing an exception for outstanding obligations, effective June 18, 1993. For provisions of former section, …

The FAIR Plan Act shall be effective and shall apply retroactively to April 30, 1981, to validate action taken under the New Mexico interim uniform basic property insurance and placement program promulgated by the superintendent of insurance. History: 1978 Comp., § 59A-29-9, enac…

Chapter 59A, Article 30 NMSA 1978 may be cited as the "New Mexico Title Insurance Law". History: 1978 Comp., § 59A-30-1, enacted by Laws 1985, ch. 28, § 1; 2009, ch. 80, § 3.

A. All title insurers operating under the provisions of the New Mexico Title Insurance Law shall at all times establish and maintain, in addition to other reserves, a reserve against unpaid losses and a reserve against loss expense. Such reserves shall be calculated by making a c…

A. No title insurance policy may be written unless the title insurer or its title insurance agent has caused to be conducted a reasonable search and examination of the title using an abstract plant meeting the requirements of Section 59A-12-13 NMSA 1978 and has caused to be made …

The superintendent shall determine a rate of assessment and collect a maintenance fee in an amount not to exceed one percent of the correctly reported gross title insurance premiums on policies written in New Mexico of all authorized title insurers. The fee required by this secti…

appropriation. There is created a "title insurance maintenance assessment fund" in the state treasury. All receipts of the department of insurance collected under Section 59A-30-12 NMSA 1978 shall be deposited in the title insurance maintenance assessment fund and are appropriate…