The superintendent shall collect the following fees: A. insurer’s certificate of authority – (1) filing application for certificate of authority, and issuance of certificate of authority, including filing of all charter documents, financial statements, service of process, power of attorney, examination reports and other documents included with and part of the application $1,000.00 (2) annual […]
A three-dollar ($3.00) surcharge shall be assessed for the period beginning March 1, 1996 and ending June 30, 2009 on the annual continuation of appointment fees imposed in Subsections E, F, N, S, W and X of Section 59A-6-1 NMSA 1978. The surcharge collected shall be distributed monthly to the New Mexico finance authority to […]
The annual filing fee for rates and forms due in advance on July 1 for each company in the following groupings shall be equal to the product produced by multiplying three thousandths by the company’s previous calendar year’s direct written premium as shown on its annual financial statement, but not to exceed an amount of […]
When a check or an electronic payment transaction for payment of fees is dishonored or reversed by the payer’s financial institution, the payer shall pay to the insurance division a civil penalty in the amount of twenty-five dollars ($25.00). Neither the division nor the fiscal agent of New Mexico is obligated to resubmit the transaction […]
History: Laws 1984, ch. 127, § 102; 1987, ch. 259, § 5; 1988, ch. 74, § 2; 1988, ch. 75, § 1; 1991, ch. 9, § 40; 1993, ch. 320, § 15; 2003, ch. 14, § 18; 2003, ch. 58, § 1; 2004, ch. 122, § 2; 2005, ch. 132, § 1; 2007, ch. 282, […]
ANNOTATIONS Repeals. — Laws 1991, ch. 9, § 45 repealed 59A-6-2.1 NMSA 1978, as enacted by Laws 1988, ch. 77, § 1, relating to supplemental premium tax, effective July 1, 1993. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
Any insurer holding certificate of authority to transact insurance in New Mexico that ceases to do business in the state shall thereupon file with the secretary of taxation and revenue a report of its premiums collected to date of such cessation of business that are subject to the premium tax or the health insurance premium […]
Every insurer, nonprofit health care plan, health maintenance organization, prepaid dental plan or prearranged funeral plan transacting business in New Mexico that fails to pay when due any fees as required in Chapter 59A, Article 6 NMSA 1978 may be liable to the state for the amount thereof and for penalty of up to one […]
A. All money received by the office of superintendent of insurance for fees, licenses and penalties shall be paid daily by the superintendent to the state treasurer and credited to the “insurance department suspense fund” except as provided by the Law Enforcement Protection Fund Act [Chapter 29, Article 13 NMSA 1978]. B. The superintendent may […]
The state government of New Mexico preempts the field of taxation of insurers, nonprofit health care plans, health maintenance organizations, prepaid dental plans, prearranged funeral plans and insurance producers as such. The payment of the taxes, licenses and fees provided for in the Insurance Premium Tax Act [7-40-1 to 7-40-10 NMSA 1978] and the Insurance […]
ANNOTATIONS Repeals. — Laws 1991, ch. 9, § 45 repealed 59A-6-7 NMSA 1978, as enacted by Laws 1988, ch. 76, § 5, relating to approval by superintendent of refund plans, effective July 1, 1993. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
The superintendent shall provide to the taxation and revenue department information regarding an insurer or plan subject to the Insurance Premium Tax Act [7-40-1 to 7-40-10 NMSA 1978] that is necessary to that department to administer the provisions of the Insurance Premium Tax Act. History: Laws 2019, ch. 47, § 3. ANNOTATIONS Effective dates. — […]
