Section 52-6-18 – Refunds.
A. Any money for a fund year in excess of the amount necessary to fund all obligations for that fund year may be declared to be refundable by the board of trustees not less than twelve months after the end of the fund year. B. Each member shall be given a written description of the […]
Section 52-6-9 – Group membership; termination; liability.
A. An employer joining a group after the group has been issued a certificate of approval shall: (1) submit an application for membership to the board of trustees or its administrator; and (2) if applicable, enter into the indemnity agreement required by Paragraph (5) of Subsection B of Section 52-6-5 NMSA 1978. Membership takes effect […]
Section 52-6-10 – Administrators and service companies; conflicts.
A. Each group shall have an administrator. In providing day-to-day management for the group, the administrator may provide claims adjustment; safety engineering; compilation of statistics and the preparation of premium, loss and tax reports; preparation of other required self-insurance reports; development of members’ assessments and fees; and administration of a claim fund. B. Each group […]
Section 52-6-11 – Licensing of agent.
Except for a salaried employee of a group, its administrator or its service company, any person soliciting membership in a group shall be a licensed solicitor or agent pursuant to the provisions of the Insurance Code. History: Laws 1986, ch. 22, § 85. ANNOTATIONS Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 […]
Section 52-6-12 – Financial statements; other reports.
A. Each group shall submit to the director a statement of financial condition audited by an independent certified public accountant on or before the last day of the sixth month following the end of the group’s fiscal year. The financial statement shall be on a form prescribed by the director and shall include actuarially appropriate […]
Section 52-6-13 – Repealed.
History: Laws 1986, ch. 22, § 87; 1987, ch. 145, § 1; repealed by Laws 2021, ch. 65, § 38. ANNOTATIONS Repeals. — Laws 2021, ch. 65, § 38 repealed 52-6-13 NMSA 1978, as enacted by Laws 1986, ch. 22, § 87, relating to premium tax, effective July 1, 2021. For provisions of former section, […]
Section 52-5-21 – Administration records confidentiality; authorized use.
Except as otherwise provided in this section, unless introduced as evidence in an administrative or judicial proceeding or filed with the clerk of the court as part of an enforcement or compliance proceeding, all records of the administration shall be confidential. Once an accident or disablement occurs, any person who is a party to a […]
Section 52-5-22 – Accident and payment reports; penalties.
A. The director shall monitor the accident or disablement and payment reports filed by employers or insurers pursuant to Sections 52-1-58, 52-1-60 and 52-3-51 NMSA 1978. The director shall publish reports on those employers or insurers who are late either in submitting their accident or disablement reports or in making their initial payments on claims. […]
Section 52-6-1 – Short title.
Chapter 52, Article 6 NMSA 1978 may be cited as the “Group Self-Insurance Act”. History: Laws 1986, ch. 22, § 75; 1990 (2nd S.S.), ch. 2, § 66. ANNOTATIONS The 1990 (2nd S.S.) amendment, effective January 1, 1991, substituted “Chapter 52, Article 6 NMSA 1978” for “Sections 75 through 99 of this act”. Law reviews. […]
Section 52-6-2 – Definitions.
As used in the Group Self-Insurance Act: A. “administrator” means an individual, partnership or corporation engaged by a group’s board of trustees to carry out the policies established by that board and to provide day-to-day management of the group; B. “group” means a not-for-profit unincorporated association consisting of two or more public hospital employers or […]