A. The office of superintendent of insurance, created as of July 1, 2013 by Article 11, Section 20 of the constitution of New Mexico, is an adjunct agency pursuant to Section 9-1-6 NMSA 1978. B. All powers relating to state supervision of insurance, insurance rates and rate practices, together with collection of insurance licenses, taxes […]
A. Orders and notices of the superintendent shall be effective only when in writing signed by him or by his authority. B. Every order of the superintendent shall state its effective date and shall concisely state: (1) what is ordered; (2) the grounds on which the order is based; and (3) the provisions of the […]
A. The superintendent may invoke the aid of any court of competent jurisdiction through injunction, mandamus or other appropriate process to enjoin any existing or threatened violation of any provision of the Insurance Code or to enforce any order made or action taken by him in pursuance of law. B. If the superintendent has reason […]
A. The superintendent shall preserve in the office of superintendent of insurance and in permanent form copies of all notices and orders given or made and of all other papers and records relating to the business and transactions of the office and shall hand the same over to the superintendent’s successor in office. B. Except […]
The superintendent shall have an official seal. Every instrument executed by the superintendent in pursuance with law and sealed with such seal shall be received as evidence. Copies of books, records and papers kept or filed in the office of superintendent of insurance pursuant to law, certified by the superintendent and authenticated by the seal, […]
A. The superintendent may authorize preparation and sale of bound pamphlet copies of the insurance laws of this state, of rules and regulations adopted pursuant to such laws, and of any other publication which the superintendent, in administration of the insurance laws, deems to be of interest sufficiently widespread to so warrant. B. The superintendent […]
A. On request of the insurance supervisory official of any other state, province or country; of the national association of insurance commissioners or similar association of insurance regulatory officials; or of a federal agency, the superintendent shall communicate to the official, association or agency information that it is the superintendent’s duty by law to ascertain […]
The office of superintendent of insurance shall cooperate with the New Mexico health insurance exchange to share information and assist in the implementation of the functions of the exchange. History: Laws 2013, ch. 54, § 10. ANNOTATIONS Emergency clauses. — Laws 2013, ch. 54, § 17 contained an emergency clause and was approved March 28, […]
Nothing contained in the Interstate Insurance Product Regulation Compact [11-19-1 NMSA 1978], nor any decision or action by the interstate insurance product regulation commission, shall preempt, alter or modify any claims or remedies against insurance companies, agents or other persons or entities regulated under the Insurance Code that are or may become available under the […]
Until January 1, 2027: A. the office of superintendent of insurance shall report by November 1 of each year to the governor, the legislative finance committee and the interim legislative health and human services committee data regarding the elimination of cost sharing pursuant to the provisions of this 2021 act, including the effects on providers […]
A. The position of superintendent of insurance shall be the chief officer of the office of superintendent of insurance. B. The superintendent shall be appointed by the insurance nominating committee. C. The superintendent shall serve for a term of four years, except that the initial term beginning July 1, 2013 shall end on December 31, […]
A. The “insurance nominating committee” is created and consists of nine members, including: (1) four members who are selected by the New Mexico legislative council as follows: (a) two members who shall represent the interests of the insurance industry; (b) two members who shall represent the interests of insurance consumers and who have experience advocating […]
The superintendent shall: A. be bonded as provided in the Surety Bond Act [10-2-13 to 10-2-16 NMSA 1978]; B. not have a direct financial interest in an insurer, insurance agency or insurance transaction except as a policyholder or a claimant under a policy or as an owner of less than one percent of the shares […]
The superintendent: A. may hire employees and prescribe their duties and qualifications and fix their compensation pursuant to the Personnel Act [Chapter 10, Article 9 NMSA 1978]; and B. shall designate an employee of the office of superintendent of insurance as chief deputy superintendent, who shall be acting superintendent when the superintendent position is vacant […]
ANNOTATIONS Repeals. — Laws 1998, ch. 108, § 81 repealed 59A-2-5 and 59A-2-6 NMSA 1978, as enacted by Laws 1984, ch. 127, §§ 23 and 24, relating to conflicts of interest of, and prohibiting gratuities to, the superintendent of insurance, effective January 1, 1999. For provisions of former sections, see the 1997 NMSA 1978 on […]
A. The superintendent may delegate to his deputy, assistant or examiner the exercise or discharge in the superintendent’s name of any power, duty or function, whether ministerial, discretionary or of whatever character, vested in or imposed upon or to be performed by the superintendent. B. The official act of any such individual acting in the […]
A. The superintendent shall: (1) organize and manage the office of superintendent of insurance and direct and supervise all its activities; (2) execute the duties imposed upon the superintendent by the Insurance Code [Chapter 59A NMSA 1978]; (3) enforce those provisions of the Insurance Code that are administered by the superintendent; (4) have the powers […]
The division may contract with a nongovernmental entity, including the national association of insurance commissioners or its affiliates or subsidiaries, to perform ministerial functions related to licensure of producers. Fees collected shall be remitted to the division on a schedule approved by the superintendent. The division may adopt by rule any uniform standards and procedures […]
A. The superintendent, after a hearing thereon, may make reasonable rules and regulations necessary for or as an aid to administration or effectuation of any provision of the Insurance Code administered by the superintendent, and from time to time withdraw, modify or amend any such rule or regulation. B. No such rule or regulation shall […]
The superintendent shall adopt and promulgate regulations: A. for defining temporary and leased employees; B. for rating temporary and leased employees; C. to ensure that employers utilize accurate employee classifications; D. to prevent employers from reducing their experience modifiers through various employee-leasing schemes; E. to establish and enforce penalties for any violations of these regulations; […]
