A. Any motor club service contract form, amendment thereof and agreement collateral thereto shall be filed with the superintendent before final execution of any such document. The superintendent shall prohibit the use of any language, condition or requirement in such service contracts, amendments and collateral agreements which is false, misleading, unfair, inequitable or otherwise contrary to public interest. Any prohibition of language, condition or requirement shall be made by the superintendent within thirty (30) days after the date the document is filed or shall be made anytime thereafter pursuant to the administrative hearing procedures provided for in Article 4 [Chapter 59A, Article 4 NMSA 1978] of the Insurance Code.
B. Each service contract shall contain a provision that if the motor club is unable to perform a contract obligation either on a service or indemnity basis the cash retail equivalent shall be paid to the member.
History: Laws 1984, ch. 127, ยง 913.
Structure New Mexico Statutes
Section 59A-50-1 - Short title.
Section 59A-50-2 - Definitions.
Section 59A-50-3 - Certificate of authority required; fees.
Section 59A-50-4 - Requirements and application for certificate of authority.
Section 59A-50-5 - Issuance, refusal of certificate of authority; continuance or expiration.
Section 59A-50-6 - Additional security.
Section 59A-50-7 - Service contracts.
Section 59A-50-8 - Investigations, examinations.
Section 59A-50-9 - Suspension, revocation or refusal to continue certificate of authority.
Section 59A-50-10 - Name, trademarks, emblems.
Section 59A-50-11 - Violation hearings.
Section 59A-50-12 - Service of process; superintendent appointed attorney.
Section 59A-50-13 - Registered representatives required; qualifications for registration.
Section 59A-50-14 - Registration procedure and matters relating to registration of representatives.
Section 59A-50-15 - Motor club bound.
Section 59A-50-16 - Representing unauthorized motor club prohibited.
Section 59A-50-17 - Limitations upon advertising.
Section 59A-50-18 - Service contract and membership card.
Section 59A-50-19 - Administrative penalty.