A. There shall be no liability on the part of, and no cause of action of any nature shall exist against, a member insurer, the association or its agents or employees, the board of directors, an individual director or the superintendent or his representative for an action taken by them in connection with carrying out their powers and duties under the Title Insurance Guaranty Act or failure to prevent any insolvency. The association shall defend all actions alleging such liability except that the attorney general shall defend any such actions against the superintendent or his representatives.
B. The meetings, activities, recommendations and decisions of the board of directors pursuant to the Title Insurance Guaranty Act shall not be open to the public or available for public inspection; provided that no representative of a member insurer shall be excluded from a meeting of the board of directors, with the exception of a representative of an insolvent insurer.
History: Laws 1999, ch. 60, § 16.
Effective dates. — Laws 1999, ch. 60 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 18, 1999, 90 days after adjournment of the legislature.
Structure New Mexico Statutes
Article 30A - Title Insurance Guaranty
Section 59A-30A-1 - Short title.
Section 59A-30A-4 - Definitions.
Section 59A-30A-5 - Organization of association.
Section 59A-30A-6 - Board of directors.
Section 59A-30A-7 - Duties and powers of the association.
Section 59A-30A-8 - Plan of operation.
Section 59A-30A-9 - Duties and powers of superintendent.
Section 59A-30A-10 - Effect of paid claims.
Section 59A-30A-11 - Nonduplication of recovery.
Section 59A-30A-12 - Prevention of insolvencies.
Section 59A-30A-13 - Examination of association; financial reports.
Section 59A-30A-15 - Recognition of assessment in rates.
Section 59A-30A-16 - Immunity; confidentiality.
Section 59A-30A-17 - Stay of proceedings; reopening of default judgments.