All premiums and other money paid to the company, all property and securities acquired through the use of money belonging to the company and all interest and dividends earned upon money belonging to the company and deposited or invested by the company are the sole property of the company and shall be used exclusively for the operation and obligations of the company. The money of the company is not state money. The property of the company is not state property.
History: Laws 1990 (2nd S.S.), ch. 2, § 139.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 139 effective January 1, 1991.
Structure 2021 New Mexico Statutes
Chapter 52 - Workers' Compensation
Article 9 - Employers Mutual Company
Section 52-9-2 - Findings and purpose.
Section 52-9-4 - Employers mutual company created; organized as a domestic mutual insurance company.
Section 52-9-5 - Company's board of directors; appointment; powers.
Section 52-9-8 - Exclusion of state's liability.
Section 52-9-9 - Use of company assets.
Section 52-9-11 - Annual accountings; possible dividends and credits.
Section 52-9-12 - Amount of dividends or credits.
Section 52-9-13 - Ability of company to transact workers' benefits insurance.
Section 52-9-14 - Investment counsel.
Section 52-9-15 - Powers of company.
Section 52-9-16 - Powers of president.
Section 52-9-17 - Company audit.
Section 52-9-18 - Company assets.
Section 52-9-19 - Money and property of the company.
Section 52-9-20 - No state appropriation.
Section 52-9-21 - Exemption from and applicability of certain laws.
Section 52-9-23 - Annual report.