The company shall not be considered a state agency for any purpose. This includes exempting the company from all state personnel, salary and procurement statutes, rules and regulations. The insurance operations of the company are subject to all of the applicable provisions of the Insurance Code in the same manner as those provisions apply to a private insurance company. The company is subject to the same tax liabilities and assessments as a private insurance company.
History: Laws 1990 (2nd S.S.), ch. 2, § 141.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 141 effective January 1, 1991.
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
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.