A. Pursuant to rules adopted by the board, the company, private independent insurance agents licensed to sell workers' compensation insurance in New Mexico and any insurance association acting as a general agent, provided the association has at least one hundred members, may sell insurance coverage for the company. The board shall establish a standard agency contract for any insurance association acting as a general agent with which the board contracts. The board shall adopt a schedule of commissions that the company will pay to any qualified independent insurance agent or association.
B. The marketing representatives employed directly by the company shall obtain a license from the superintendent of insurance. The marketing representatives employed directly by the company shall not be licensed to sell any type of insurance other than workers' compensation or occupational disease disablement insurance.
History: Laws 1990 (2nd S.S.), ch. 2, § 142.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 142 effective January 1, 1991.
Structure 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.