New Mexico Statutes
Article 41 - Conservation, Rehabilitation and Liquidation
Section 59A-41-31 - Grounds for conservation of assets of foreign insurer.

The superintendent may apply under Chapter 59A, Article 41 NMSA 1978 for an order directing him to conserve the assets within the state of a foreign insurer upon any one or more of the grounds specified in Subsection A, B, C, D, E, F, G, J, K or O of Section 59A-41-28 NMSA 1978 or upon the ground that such foreign insurer has consented to such an order through a majority of its directors, stockholders or members, or has had its property sequestrated in its domiciliary country or state or in any other country or state. The superintendent may apply under Chapter 59A, Article 41 NMSA 1978 for an order directing him to conserve the assets within this state of an alien insurer, other than one which has its trusteed assets in this state, on any one or more of the grounds specified in Subsections A, B, C, D, E, F, G, J, K or O of Section 59A-41-28 NMSA 1978 or upon the ground that such alien insurer has failed or refused to comply, within the time designated by the superintendent, with an order of the superintendent, pursuant to law, to make good an impairment of its trusteed surplus, or that such alien insurer has consented to such an order through a majority of its directors, stockholders or members, or that it has had its property sequestrated in its domiciliary country or elsewhere.
History: Laws 1984, ch. 127, § 723; 1995, ch. 149, § 17.
The 1995 amendment, effective June 16, 1995, in the first and second sentences, substituted "Chapter 59A, Article 41 NMSA 1978" for "this article" and "Subsections A, B, C, D, E, F, G, J, K or O of Section 59A-41-28 NMSA 1978" for "Section 720 of this article, in Paragraphs A, B, C, D, E, F, G, J, or K".

Structure New Mexico Statutes

New Mexico Statutes

Chapter 59A - Insurance Code

Article 41 - Conservation, Rehabilitation and Liquidation

Section 59A-41-1 - Short title.

Section 59A-41-2 - Scope of article.

Section 59A-41-3 - Definitions.

Section 59A-41-4 - "Ancillary state" defined.

Section 59A-41-5 - "Creditor" defined.

Section 59A-41-6 - "Delinquency proceeding" defined.

Section 59A-41-7 - "Domiciliary state" defined.

Section 59A-41-8 - "Foreign country" defined.

Section 59A-41-9 - "General assets" defined.

Section 59A-41-10 - "Impairment" defined.

Section 59A-41-11 - "Insolvency" defined.

Section 59A-41-12 - "Preferred claim" defined.

Section 59A-41-13 - "Receiver" defined.

Section 59A-41-14 - "Reciprocal state" defined.

Section 59A-41-15 - "Secured claim" defined.

Section 59A-41-16 - "Special deposit claim" defined.

Section 59A-41-17 - Uniform Insurers Liquidation Act; composition, severability and interpretation.

Section 59A-41-18 - Conduct of delinquency proceedings against domestic insurers.

Section 59A-41-19 - Conduct of delinquency proceedings against nondomestic insurers; domiciliary receiver may sue.

Section 59A-41-20 - Filing, proving claims of nonresidents against delinquent domestic insurers.

Section 59A-41-21 - Filing, proving claims of residents against delinquent insurers domiciled in reciprocal states.

Section 59A-41-22 - Priority of preferred claims, special deposit claims and secured claims.

Section 59A-41-23 - Attachment, garnishment of assets.

Section 59A-41-24 - Hazardous financial condition; determination.

Section 59A-41-25 - Requirements of insurer in hazardous financial condition.

Section 59A-41-26 - Hazardous financial condition; failure of insurer to comply with requirements.

Section 59A-41-27 - Deposit of foreign insurer during examination; impoundment of assets.

Section 59A-41-28 - Grounds for rehabilitation, liquidation of domestic insurer.

Section 59A-41-29 - Order of rehabilitation; termination.

Section 59A-41-30 - Order of liquidation of domestic insurer; rights, liabilities.

Section 59A-41-31 - Grounds for conservation of assets of foreign insurer.

Section 59A-41-32 - Order of conservation or ancillary liquidation of foreign or alien insurer.

Section 59A-41-33 - Grounds for dissolution of domestic insurer.

Section 59A-41-34 - Commencement of a delinquency proceeding.

Section 59A-41-35 - Change of venue.

Section 59A-41-36 - Right of guaranty association to participate in delinquency proceeding.

Section 59A-41-37 - Exemption from filing fees.

Section 59A-41-38 - Deposit of monies collected.

Section 59A-41-39 - Borrowing on pledge of assets.

Section 59A-41-40 - Sale, disposition of assets and compromise of certain claims.

Section 59A-41-41 - Time to file claims.

Section 59A-41-42 - Fraudulent transfers prior to petition.

Section 59A-41-43 - Fraudulent transfer after petition.

Section 59A-41-43.1 - Voidable preferences and liens.

Section 59A-41-43.2 - Liability for participation in fraudulent transfer or voidable preference.

Section 59A-41-43.3 - Claims of holders of void or voidable rights.

Section 59A-41-44 - Priorities in distribution.

Section 59A-41-45 - Offsets.

Section 59A-41-45.1 - Recovery from affiliates.

Section 59A-41-46 - Report for assessment; domestic mutual, reciprocal insurers.

Section 59A-41-47 - Levy of assessment; domestic mutual, reciprocal insurers.

Section 59A-41-48 - Order for payment of assessment; domestic mutual, reciprocal insurers.

Section 59A-41-49 - Assessment order, publication and transmittal.

Section 59A-41-50 - Judgment upon the assessment.

Section 59A-41-51 - Summary proceedings; superintendent's corrective orders authorized.

Section 59A-41-52 - Summary proceedings; appeal from superintendent's order.

Section 59A-41-53 - Summary proceedings; enforcement; penalty.

Section 59A-41-54 - Summary proceedings; seizure under court order.

Section 59A-41-55 - Summary proceedings; seizure under superintendent's order.

Section 59A-41-56 - Summary proceedings; conduct of administrative and judicial hearings.

Section 59A-41-57 - Summary proceedings; penalty for refusal to deliver property, records.