There shall be no liability on the part of, and no cause of action shall arise against, a member insurer or its agents or employees, the association or its agents or employees, members of the board or the superintendent or the superintendent's representatives for an act or omission by them in the performance of their powers and duties pursuant to the Life and Health Insurance Guaranty Association Act. This immunity shall extend to the participation in an organization of one or more other state associations with similar purposes and to that organization and its agents or employees.
History: Laws 1984, ch. 127, § 764; 2012, ch. 9, § 18.
The 2012 amendment, effective July 1, 2012, extended the immunity from liability to participation in other state organizations and to those other state organizations and their agents and employees; in the first sentence, after "the superintendent's representatives for", deleted "any action taken" and added "an act or omission", and after "their powers and duties", deleted "under this article", added the reminder of the sentence 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.