The superintendent's notices to an insurer or health organization pursuant to the Risk-Based Capital Act shall be effective upon mailing by certified mail or, in the case of any other mode of transmission, shall be effective upon the insurer's or health organization's receipt.
History: 1978 Comp., § 59A-5A-13, enacted by Laws 1995, ch. 149, § 13; 2014, ch. 59, § 11.
The 2014 amendment, effective July 1, 2014, subjected health organizations to the Risk-Based Capital Act; after "notices to an insurer", added "or health organization", and after "upon the insurer's", added "or health organization's".
Severability. — Laws 2014, ch. 59, § 12 provided that if any part or application of the provisions of the Risk-Based Capital Act is held invalid, the remainder or its application to other situations or persons shall not be affected.
Structure New Mexico Statutes
Article 5A - Risk-Based Capital
Section 59A-5A-1 - Short title.
Section 59A-5A-2 - Definitions.
Section 59A-5A-3 - Risk-based capital reports.
Section 59A-5A-4 - Company action level event.
Section 59A-5A-5 - Regulatory action level event.
Section 59A-5A-6 - Authorized control level event.
Section 59A-5A-7 - Mandatory control level event.
Section 59A-5A-8 - Challenge hearings.
Section 59A-5A-9 - Confidentiality; prohibition on announcements; prohibition on use in ratemaking.
Section 59A-5A-10 - Supplemental provisions; rules; exemption.