Section 52-9-21 – Exemption from and applicability of certain laws.
The company shall not be considered a state agency for any purpose. This includes exempting the company from all state personnel, salary and procurement statutes, rules and regulations. The insurance operations of the company are subject to all of the applicable provisions of the Insurance Code in the same manner as those provisions apply to […]
Section 52-9-22 – Marketing.
A. Pursuant to rules adopted by the board, the company, private independent insurance agents licensed to sell workers’ compensation insurance in New Mexico and any insurance association acting as a general agent, provided the association has at least one hundred members, may sell insurance coverage for the company. The board shall establish a standard agency […]
Section 52-9-23 – Annual report.
The president shall submit an annual, independently audited report, in accordance with procedures governing annual reports adopted by the national association of insurance commissioners, by October 1 of each year to the governor, the legislative finance committee and any other appropriate legislative committee indicating the business done by the company during the previously completed fiscal […]
Section 52-9-24 – Loan fund created.
There is hereby created in the state treasury a fund to be known as the “employers mutual company loan fund”. History: Laws 1990 (2nd S.S.), ch. 2, § 144. ANNOTATIONS Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 144 effective January 1, 1991.
Section 52-9-25 – Authorization to issue revenue bonds.
A. In order to provide funds for the continued development and operation of the employers mutual company, the board of directors of the company is authorized to issue revenue bonds from time to time, in a principal amount outstanding not to exceed ten million dollars ($10,000,000) at any given time, payable solely from premiums received […]
Section 52-10-1 – Release of medical records.
A. A health care provider shall immediately release to a worker, that worker’s employer, that employer’s insurer, the appropriate peer review organization or the health care selection board all medical records, medical bills and other information concerning any health care or health care service provided to the worker, upon either party’s written request to the […]
Section 52-9-11 – Annual accountings; possible dividends and credits.
The incurred loss experience and expense of the company shall be ascertained each year. If there is an excess of assets over liabilities, necessary reserves and a reasonable surplus for the catastrophe hazard, then a cash dividend may be declared to or a credit allowed to an employer who has been insured with the company […]
Section 52-9-12 – Amount of dividends or credits.
The cash dividend or credit to an employer shall be an amount that the board in its discretion considers appropriate. History: Laws 1990 (2nd S.S.), ch. 2, § 132. ANNOTATIONS Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 132 effective January 1, 1991.
Section 52-9-13 – Ability of company to transact workers’ benefits insurance.
Effective no later than January 1, 1992, the company shall transact insurance business to provide coverage for workers’ benefits and employers’ liability. History: Laws 1990 (2nd S.S.), ch. 2, § 133. ANNOTATIONS Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 133 effective January 1, […]
Section 52-9-14 – Investment counsel.
The company may retain an independent investment counsel. The board shall periodically review and appraise the investment strategy being followed and the effectiveness of such services. Any investment counsel retained or hired shall report at least once a month to the board on investment results and related matters. History: Laws 1990 (2nd S.S.), ch. 2, […]