A. No advisory organization shall provide a service relating to the statistical collection or the rates of an insurance subject to the Insurance Rate Regulation Law, and no insurer shall use the services of the organization for such purposes, unless the organization has obtained a license as required by Section 59A-17-19 NMSA 1978.
B. No advisory organization shall refuse to supply a service for which it is licensed in this state to an authorized insurer offering to pay the fair and usual compensation for the services.
History: Laws 1984, ch. 127, § 314; 2007, ch. 367, § 20.
ANNOTATIONS
The 2007 amendment, effective July 1, 2007, changed “rate service organizations” to “advisory organizations” and prohibited advisory organizations from providing services related to statistical collection.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 52, 57, 92.
44 C.J.S. Insurance §§ 19, 102.