A. The superintendent may conduct examinations to enforce the provisions of the Service Contract Regulation Act pursuant to Chapter 59A, Article 4 NMSA 1978 at such times as he deems necessary.
B. A provider shall, upon the request of the superintendent, make available to the superintendent for inspection any accounts, books and records concerning any service contract issued, sold or offered for sale by the provider that are reasonably necessary to enable the superintendent to determine whether the provider is in compliance with the provisions of the Service Contract Regulation Act.
C. The provisions of this section shall not apply to major manufacturing companies' service contracts.
History: Laws 2001, ch. 206, § 16.
Effective dates. — Laws 2001, ch. 206, § 20 made Laws 2001, ch. 206, § 16 effective July 1, 2002.
Structure New Mexico Statutes
Article 58 - Service Contract Regulation
Section 59A-58-1 - Short title.
Section 59A-58-2 - Definitions.
Section 59A-58-3 - Exclusions from act.
Section 59A-58-4 - Prohibition of sale of service contract unless registered.
Section 59A-58-5 - Registration requirements.
Section 59A-58-6 - Security required for registration of provider.
Section 59A-58-7 - Transactions exempt from premium tax.
Section 59A-58-8 - Transactions not subject to New Mexico Insurance Code; exceptions.
Section 59A-58-9 - Right of holder to return service contract for refund.
Section 59A-58-10 - Information required in service contract.
Section 59A-58-10.1 - Automatic renewal; notice.
Section 59A-58-11 - Receipt for and copy of service contract required.
Section 59A-58-12 - Cancellation of service contract.
Section 59A-58-13 - Business name restrictions.
Section 59A-58-15 - Records requirements.
Section 59A-58-16 - Examinations and inspection of books by superintendent.