All claims paid by the administrator from funds collected on behalf of the insurer shall be paid only on drafts of and as authorized by such insurer.
History: 1978 Comp., § 59A-12A-10, enacted by Laws 1989, ch. 374, § 10.
Structure New Mexico Statutes
Article 12A - Insurance Administrators
Section 59A-12A-1 - Scope of the article.
Section 59A-12A-2 - Definitions.
Section 59A-12A-3 - License required; penalty.
Section 59A-12A-4 - Written agreement necessary.
Section 59A-12A-5 - Payment to administrator.
Section 59A-12A-6 - Maintenance of information.
Section 59A-12A-7 - Approval of advertising.
Section 59A-12A-8 - Underwriting provision.
Section 59A-12A-9 - Premium collection.
Section 59A-12A-10 - Payment of claims.
Section 59A-12A-11 - Claim adjustment or settlement.
Section 59A-12A-12 - Notification required.
Section 59A-12A-13 - Business name.
Section 59A-12A-14 - Confidentiality.
Section 59A-12A-15 - Prohibited inducements.