A. Deposits made in this state under the Insurance Code shall be made through the superintendent, and upon the superintendent's written order deposited with the state treasurer, who shall give receipt therefor and hold in trust deposits so made for the purpose or purposes made, subject to the applicable provisions of this article.
B. The state of New Mexico shall be responsible for safekeeping of all assets so deposited with the state treasurer, and shall bear the costs of the depository.
History: Laws 1984, ch. 127, § 164.
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
Structure New Mexico Statutes
Article 10 - Administration of Deposits; Trusteed Assets of Alien Insurer
Section 59A-10-1 - Authorized deposits.
Section 59A-10-2 - Purpose of deposit.
Section 59A-10-3 - Securities eligible for deposit.
Section 59A-10-4 - State treasurer as depository.
Section 59A-10-5 - Depositories designated by treasurer.
Section 59A-10-6 - Excess deposits.
Section 59A-10-7 - Insurer's rights during solvency.
Section 59A-10-8 - Replenishment of deposit.
Section 59A-10-9 - Release of deposit.
Section 59A-10-10 - Special deposit bond in lieu, requirement of new bond.
Section 59A-10-11 - Trusteed assets of alien insurer.
Section 59A-10-12 - Purpose and duration.
Section 59A-10-13 - Trust agreement.
Section 59A-10-14 - Title; separation; accounting.
Section 59A-10-15 - Examination of assets.
Section 59A-10-16 - Withdrawal of assets.
Section 59A-10-17 - Substitution of trustee.