Any attorney-in-fact of Lloyds Plan underwriters or representative of such attorney-in-fact who exchanges or solicits or negotiates the exchange of any automobile insurance contract without compliance by the attorney-in-fact with the provisions of this article, shall be deemed guilty of a misdemeanor and upon conviction shall be punished by a fine of not to exceed five thousand dollars ($5,000).
History: Laws 1984, ch. 127, § 656.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 180.
Structure New Mexico Statutes
Article 38 - Lloyds Plan Automobile Insurance
Section 59A-38-1 - Lloyds Plan automobile insurance authorized.
Section 59A-38-2 - Approval of policies; attorney-in-fact.
Section 59A-38-3 - Application for certificate of authority.
Section 59A-38-4 - Cash or security deposit.
Section 59A-38-5 - Surplus required.
Section 59A-38-6 - Limit on volume of insurance written.
Section 59A-38-7 - Determining solvency; investments.
Section 59A-38-8 - Distribution of profits; how determined.
Section 59A-38-9 - Impairment.
Section 59A-38-10 - Withdrawal of underwriters.
Section 59A-38-11 - Lloyds Plan insurance producers; licensing.
Section 59A-38-12 - Lloyds Plan an "insurer".