The association is subject to examination and regulation by the superintendent. The board shall submit to the superintendent, not later than May 1 each year, a financial report for the preceding calendar year in form approved by the superintendent and a report of its activities during the preceding calendar year. Upon the request of a member insurer, the association shall provide the member insurer with a copy of the report.
History: Laws 1984, ch. 127, § 763; 2012, ch. 9, § 17.
The 2012 amendment, effective July 1, 2012, permitted member insurers to request a copy of the annual report and added the last sentence.
Structure New Mexico Statutes
Article 42 - Life and Health Insurance Guaranty Association
Section 59A-42-1 - Short title.
Section 59A-42-3 - Definitions.
Section 59A-42-4 - Coverage; limitations.
Section 59A-42-5 - Organization of association; participation.
Section 59A-42-6 - Board of directors.
Section 59A-42-7 - Powers and duties of the association.
Section 59A-42-8 - Assessments.
Section 59A-42-9 - Plan of operation.
Section 59A-42-10 - Duties and powers of the superintendent.
Section 59A-42-11 - Prevention of insolvencies.
Section 59A-42-13 - Miscellaneous provisions.
Section 59A-42-14 - Examination of association; annual report.
Section 59A-42-16 - Stay of proceedings; reopening default judgments.
Section 59A-42-17 - Prohibited advertisement; notice to policy owners.