A. A judgment debtor, upon due notice to the judgment creditor, may apply to the court in which the judgment was rendered for the privilege of paying the judgment in installments, and the court in its discretion and without prejudice to any other legal remedies which the judgment creditor may have may so order and […]
In the event the judgment debtor fails to pay any installment as specified by the order, upon notice of the default the division shall forthwith suspend the license, registration or nonresident’s operating privilege of the judgment debtor until the judgment is satisfied as provided in the Mandatory Financial Responsibility Act [66-5-201 to 66-5-239 NMSA 1978]. […]
Evidence of financial responsibility, when required under the Mandatory Financial Responsibility Act, may be given by filing: A. evidence of a motor vehicle insurance policy; B. a surety bond as provided in Section 66-5-225 NMSA 1978; or C. a certificate of deposit of money as provided in Section 66-5-226 NMSA 1978. History: 1953 Comp., § […]
ANNOTATIONS Repeals. — Laws 1998, ch. 34, § 19 repealed 66-5-219 NMSA 1978, 1953 Comp. (§ 64-24-84), as enacted by Laws 1955, ch. 182, § 321; recompiled as 1953 Comp., § 64-5-227, by Laws 1978, ch. 35, § 303; 1978 Comp., § 66-5-227, recompiled as 1978 Comp., § 66-5-219 by Laws 1983, ch. 318, § […]
If any insurance carrier not authorized to transact business in New Mexico that has qualified to furnish evidence of financial responsibility defaults in any undertakings or agreements, the department shall not thereafter accept evidence of financial responsibility of that carrier, whether previously filed or thereafter tendered as evidence, so long as the default continues. History: […]
ANNOTATIONS Repeals. — Laws 1998, ch. 34, § 19 repealed 66-5-221 NMSA 1978, 1953 Comp., § 64-5-230, as enacted by Laws 1978, ch. 35, § 306; 1978 Comp., § 66-5-230, recompiled as 1978 Comp., § 66-5-221 by Laws 1983, ch. 318, § 21, relating to certified motor vehicle liability policy; provisions, effective July 1, 1998. […]
Any motor vehicle insurance policy may be endorsed to exclude a named driver from coverage. The endorsement shall be signed by at least one named insured. Endorsements shall be substantially similar to the following form: “DRIVER EXCLUSION ENDORSEMENT Nothing herein contained shall be held to alter, vary, waive or extend any of the terms, conditions, […]
ANNOTATIONS Repeals. — Laws 1998, ch. 34, § 19 repealed 66-5-223 NMSA 1978, 1953 Comp., § 64-5-232, enacted by Laws 1978, ch. 35, § 308; 1978 Comp., § 66-5-232, recompiled as 1978 Comp., § 66-5-223 by Laws 1983, ch. 318, § 22, relating to notice of cancellation or termination of certified policy, effective July 1, […]
A. The Mandatory Financial Responsibility Act does not apply to or affect policies of motor vehicle insurance against liability which may now or hereafter be required by any other law of New Mexico, and such policies, if they contain an agreement or are endorsed to conform with the requirements of the Mandatory Financial Responsibility Act, […]
Evidence of financial responsibility may be demonstrated by a surety bond of a surety company authorized to transact business within New Mexico. History: 1953 Comp., § 64-5-234, enacted by Laws 1978, ch. 35, § 310; 1978 Comp., § 66-5-234, recompiled as § 66-5-225 by Laws 1983, ch. 318, § 24. ANNOTATIONS Repeals. — Laws 1983, […]
Evidence of financial responsibility may be demonstrated by the certificate of the state treasurer that the person named in the certificate has deposited with him sixty thousand dollars ($60,000) in cash. History: 1953 Comp., § 6A-24-93, enacted by Laws 1955, ch. 182, § 330; 1965, ch. 13, § 5; recompiled as 1953 Comp., § 64-5-237 […]
The cash deposit provided for in Section 66-5-226 NMSA 1978 shall be held by the state treasurer to satisfy, in accordance with the provisions of the Mandatory Financial Responsibility Act, any execution on a judgment issued against the person making the deposit, for damages, including damages for care and loss of services because of bodily […]
The department shall consent to the cancellation of any bond or the department shall direct and the state treasurer shall return any money to the person entitled thereto upon the substitution and acceptance of any other adequate evidence of financial responsibility as set forth in Section 66-5-218 NMSA 1978. History: 1953 Comp., § 64-5-240, enacted […]
A. Except as provided in Subsection B of this section, the department shall, upon request, consent to the immediate cancellation of any bond or the department shall direct and the state treasurer shall return to the person entitled to it any money deposited pursuant to the Mandatory Financial Responsibility Act as evidence of financial responsibility […]
A. Any person whose license or registration is suspended under any provision of the Mandatory Financial Responsibility Act or whose policy of insurance or bond, when required under the Mandatory Financial Responsibility Act, is canceled or terminated shall immediately return his license or registration to the division. If any person fails to return to the […]
Any person who forges or, without authority, signs any evidence of financial responsibility or who files or offers for filing any such evidence knowing or having reason to believe that it is forged or signed without authority shall be fined not more than one thousand dollars ($1,000) or imprisoned for not more than one year […]
A. The department, at various times as it considers necessary or appropriate to assure compliance with the Mandatory Financial Responsibility Act, shall select for financial responsibility affirmation an appropriate sample number of the motor vehicles registered in New Mexico. The department is authorized to emphasize, in accordance with rules adopted by the department, for affirmation […]
The affirmation of financial responsibility required under Sections 66-5-208, 66-5-225 and 66-5-226 NMSA 1978 shall be in a form prescribed by the department and shall require an applicant to provide such information as may be required by the department. If a person affirms the existence of a motor vehicle insurance policy, the affirmation form shall […]
A. The department shall indicate in boldface print on every new application form for registration and every registration form that the owner of the motor vehicle affirms that he is financially responsible within the meaning of the Mandatory Financial Responsibility Act. The payment of the registration fee and acceptance by the department of the application […]
When the department has reasonable grounds to believe that a person is operating a motor vehicle in violation of Section 66-5-205 NMSA 1978 or has falsely affirmed the existence of a motor vehicle insurance policy or the existence of some other means of satisfying the financial responsibility requirements of the Mandatory Financial Responsibility Act, the […]
