Section 59A-61-6 – Audit; pharmacy benefits manager.
A pharmacy benefits manager licensed pursuant to the Pharmacy Benefits Manager Regulation Act shall be subject to Section 61-11-18.2 NMSA 1978. A pharmacy benefits manager shall not reduce or eliminate payment on an adjudicated claim except as permitted by Section 61-11-18.2 NMSA 1978. History: Laws 2014, ch. 14, § 6; 2019, ch. 269, § 5. […]
Section 59A-61-7 – Pharmacy benefits managers; prohibited pharmacy fees.
A. A pharmacy benefits manager shall not charge a pharmacy a fee related to the adjudication of a claim, including: (1) the receipt and processing of a pharmacy claim; (2) the development or management of a claim processing or adjudication network; or (3) participation in a claim processing or claim adjudication network. B. A pharmacy […]
Section 59A-58-10 – Information required in service contract.
A. A service contract shall: (1) be written in language that is understandable and printed in a typeface that is easy to read; (2) include the amount, if applicable, of any deductible that the holder is required to pay; (3) include the name, address and telephone number of the provider and, if applicable: (a) the […]
Section 59A-60-3 – Licensure of vendors.
A. A vendor is required to hold a limited agent’s license pursuant to Section 59A-12-18 NMSA 1978 to sell or offer coverage under a policy of portable electronics insurance. B. A limited agent’s license issued to a vendor shall authorize any employee or authorized representative of the vendor to sell or offer coverage under a […]
Section 59A-58-10.1 – Automatic renewal; notice.
A. A provider shall not include an automatic renewal provision within a service contract offered in this state unless the provider discloses the terms of the automatic renewal provision in a clear and conspicuous manner, or in the case of an offer conveyed by voice, in temporal proximity, to the request for consent to the […]
Section 59A-60-4 – Requirements for sale of portable electronics insurance.
A. At every location where portable electronics insurance is offered to customers, brochures or other written materials shall be made available to a prospective customer that: (1) disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer’s homeowner’s insurance policy, renter’s insurance policy or other source of coverage; (2) […]
Section 59A-58-11 – Receipt for and copy of service contract required.
A. A provider shall provide a receipt for, or other written evidence of, the purchase of a service contract. B. The provider shall furnish a copy of the service contract to the holder within a reasonable time after the contract is purchased. History: Laws 2001, ch. 206, § 11. ANNOTATIONS Effective dates. — Laws 2001, […]
Section 59A-58-12 – Cancellation of service contract.
A. No service contract that has been in effect for at least seventy days may be canceled by the provider before the expiration of the agreed term or one year after the effective date of the service contract, whichever occurs first, except on any of the following grounds: (1) failure by the holder to pay […]
Section 59A-58-13 – Business name restrictions.
A. Except as otherwise provided in this section, a provider shall not include in the name of his business: (1) the words “insurance”, “casualty”, “surety”, “mutual” or any other word or term that implies that he is engaged in the business of transacting insurance or is a surety company; or (2) a name that is […]
Section 59A-58-14 – Prohibition of requiring purchase of service contract as a condition of loan approval or purchase of property.
No person may require the purchase of a service contract as a condition for the approval of a loan or the purchasing of property. History: Laws 2001, ch. 206, § 14. ANNOTATIONS Effective dates. — Laws 2001, ch. 206, § 20 made Laws 2001, ch. 206, § 14 effective July 1, 2002.