Section 59A-4-13 – Examination report as evidence; proceedings during examination.
A. In any proceeding by or against the examinee or any officer or agent thereof the examination report as adopted by the superintendent shall be admissible as evidence of the facts stated therein, and shall constitute prima facie evidence of such facts. B. Nothing contained in the Insurance Code shall prevent or be construed as […]
Section 59A-4-14 – Examination expense; payment.
A. The person examined shall pay all reasonable costs and expenses of the examination upon presentation by the superintendent, upon completion of the examination, of a detailed statement of accrued costs and expenses. Remuneration and expenses of salaried personnel of the insurance department serving in the examination shall be paid to the superintendent, and upon […]
Section 59A-4-15 – Hearings; in general.
A. The superintendent may hold a hearing, without request by others, for any purpose within the scope of the Insurance Code [Chapter 59A NMSA 1978]. B. The superintendent shall hold a hearing: (1) if required by any other provision of the Insurance Code; or (2) upon written request for a hearing by a person aggrieved […]
Section 59A-4-6 – Examiners and specialists.
A. The superintendent may appoint one or more competent individuals, sufficiently knowledgeable in applicable accounting and operations, as examiners to represent the superintendent in an examination and shall fix the reasonable compensation of the examiners. B. The superintendent may also employ and fix reasonable compensation of independently contracting accountants knowledgeable of insurance accounting principles and […]
Section 59A-4-7 – Conduct of examination; access to information; correction of records; penalties.
A. Upon determining that an examination should be conducted, the superintendent or the superintendent’s designee shall issue an order appointing one or more examiners to perform the examination and instructing them as to the scope of the examination. In conducting the examination, the examiner shall observe those guidelines and procedures set forth in the examiners’ […]
Section 59A-4-8 – Appraisal of assets.
A. If the superintendent deems it necessary to value any asset involved in an examination, he shall request in writing the person being examined to appoint one or more impartial appraisers who through education, experience or training are competent to appraise the asset. The appraiser so selected shall be subject to the superintendent’s approval; and […]
Section 59A-4-1 – Scope of article.
Except as otherwise expressly provided as to particular matters in the Insurance Code, the provisions of Chapter 59A, Article 4 NMSA 1978 as to investigations and hearings by the superintendent shall apply as to all persons and operations subject to licensing or supervision under the Insurance Code. History: Laws 1984, ch. 127, § 45; 1998, […]
Section 59A-4-2 – Investigations; confidentiality of information pending completion.
A. Evidence relative to the subject of an investigation being conducted by the superintendent shall not be open to public inspection for so long as the superintendent deems reasonably necessary to complete the investigation, to protect the person investigated from unwarranted injury, or to be in the public interest. B. Evidence relative to the subject […]
Section 59A-4-3 – Inquiries by superintendent.
The superintendent may direct an inquiry to any person subject to supervision under the Insurance Code with respect to any transaction or matter within the scope of such supervision. Upon receipt of the request, the person shall promptly furnish to the superintendent requested information in possession or control of such person. If so specified by […]
Section 59A-4-4 – Power of examination; in general.
A. In addition to examinations otherwise expressly authorized for purpose of ascertaining financial condition where applicable, compliance with law, relationships and transactions between any such persons and others and treatment accorded its contract holders, subscribers and others served by it, the superintendent as often as he deems advisable may examine the accounts, records, documents, transactions […]