Prior to issuance of license under this article the insurer shall file with the superintendent a document in English as prescribed by the superintendent and executed by the insurer's appropriate officials expressly accepting the terms of this article and agreeing that the superintendent may at any time in his lawful discretion suspend, revoke or refuse to grant or continue the license of the insurer to do business in this state as in this article authorized, upon a determination by the superintendent that the insurer is insolvent or in dangerous financial condition, or that it has violated any law of this state or of its home jurisdiction.
History: Laws 1984, ch. 127, ยง 691.
Structure New Mexico Statutes
Article 40 - Mexican Casualty Insurers
Section 59A-40-1 - May be licensed to write certain insurance effective in Mexico.
Section 59A-40-2 - Application for license.
Section 59A-40-3 - Deposit or bond.
Section 59A-40-4 - Service of process.
Section 59A-40-6 - Premium rates.
Section 59A-40-7 - Examination.
Section 59A-40-8 - Acceptance of laws; suspension, revocation, nonrenewal of license.