Section 52-9-6 – Board; directors as appointed public officials of state; excluded from personal liability.
Directors are appointed public officials of the state while carrying out their duties and activities under the Employers Mutual Company Act. The directors and the employees of the company are not liable personally, either jointly or severally, for any debt or obligation created or incurred by the company or for any act performed or obligation […]
Section 52-9-7 – President.
The company is under the administrative control of the president. He shall be in charge of the day-to-day operation and management of the company. The board shall appoint the president, and he shall serve at the pleasure of the board. He shall receive compensation as set by the board. The president shall have proven successful […]
Section 52-9-8 – Exclusion of state’s liability.
The state shall not be liable for any obligations incurred by the company. History: Laws 1990 (2nd S.S.), ch. 2, § 128. ANNOTATIONS Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 128 effective January 1, 1991.
Section 52-9-9 – Use of company assets.
The assets of the company shall be applicable to the payment of losses sustained on account of insurance issued by it and to the payment of salaries, dividends as provided in Sections 131 and 132 [52-9-11, 52-9-12 NMSA 1978] of this act and other expenses. History: Laws 1990 (2nd S.S.), ch. 2, § 129. ANNOTATIONS […]
Section 52-9-10 – Company to be competitive; safety incentives and penalties; loss control, case management and utilization review.
A. The company shall be competitive with other insurers of workers’ compensation and occupational disease disablement insurance. It is the expressed intent of the legislature that the company shall ultimately become self-supporting. For that purpose, loss experience and expense shall be ascertained, and dividends, credits or rate deviations may be made, as provided in the […]