Directors are appointed public officials of the state while carrying out their duties and activities under the Employers Mutual Company Act. The directors and the employees of the company are not liable personally, either jointly or severally, for any debt or obligation created or incurred by the company or for any act performed or obligation entered into in an official capacity when done in good faith, without intent to defraud and in connection with the administration, management or conduct of the company or affairs relating to it.
History: Laws 1990 (2nd S.S.), ch. 2, § 126.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 126 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.