A. The board may:
(1) purchase insurance or reinsurance as is necessary to insure any potential liabilities to the fund;
(2) provide for the imposition of assessments to ensure the financial stability of the fund; and
(3) adopt bylaws and rules necessary to carry out the functions of the commission.
B. Except for intentional acts or acts of gross negligence, neither board members nor general members of the commission shall be liable for their acts or omissions in the administration of the Self-Insurers' Guarantee Fund Act.
History: Laws 1990 (2nd S.S.), ch. 2, § 114.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 114 effective January 1, 1991.
Structure New Mexico Statutes
Chapter 52 - Workers' Compensation
Article 8 - Self-Insurers' Guarantee Fund Act
Section 52-8-4 - Scope of act.
Section 52-8-6 - Board powers and duties; liability.
Section 52-8-7 - Guarantee fund created; assessment for funding.
Section 52-8-8 - Fund liability period for guarantee fund.
Section 52-8-9 - Fund membership termination.
Section 52-8-10 - Withdrawal of certification; grounds.
Section 52-8-11 - Rules and regulations.
Section 52-8-12 - Regulations remain in effect; initial commission general members.