Chapter 52, Article 6 NMSA 1978 may be cited as the “Group Self-Insurance Act”. History: Laws 1986, ch. 22, § 75; 1990 (2nd S.S.), ch. 2, § 66. ANNOTATIONS The 1990 (2nd S.S.) amendment, effective January 1, 1991, substituted “Chapter 52, Article 6 NMSA 1978” for “Sections 75 through 99 of this act”. Law reviews. […]
A. Each group shall have an administrator. In providing day-to-day management for the group, the administrator may provide claims adjustment; safety engineering; compilation of statistics and the preparation of premium, loss and tax reports; preparation of other required self-insurance reports; development of members’ assessments and fees; and administration of a claim fund. B. Each group […]
Except for a salaried employee of a group, its administrator or its service company, any person soliciting membership in a group shall be a licensed solicitor or agent pursuant to the provisions of the Insurance Code. History: Laws 1986, ch. 22, § 85. ANNOTATIONS Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 […]
A. Each group shall submit to the director a statement of financial condition audited by an independent certified public accountant on or before the last day of the sixth month following the end of the group’s fiscal year. The financial statement shall be on a form prescribed by the director and shall include actuarially appropriate […]
History: Laws 1986, ch. 22, § 87; 1987, ch. 145, § 1; repealed by Laws 2021, ch. 65, § 38. ANNOTATIONS Repeals. — Laws 2021, ch. 65, § 38 repealed 52-6-13 NMSA 1978, as enacted by Laws 1986, ch. 22, § 87, relating to premium tax, effective July 1, 2021. For provisions of former section, […]
A group shall be subject to the provisions of the Subsequent Injury Act. History: Laws 1986, ch. 22, § 88. ANNOTATIONS Compiler’s notes. — For the Subsequent Injury Act, see 52-2-1 NMSA 1978 and notes thereto.
No person shall make a material misrepresentation or omission of a material fact in connection with the solicitation of membership of a group. History: Laws 1986, ch. 22, § 89.
Funds not needed for current obligations may be invested by the board of trustees in accordance with the provisions of Chapter 59A, Article 9 NMSA 1978 applicable to investments, except that, notwithstanding the provisions of Section 59A-9-18 NMSA 1978: A. the board of trustees may make loans or investments not otherwise expressly permitted under Chapter […]
A. Every group shall adhere to the uniform classification system, uniform experience-rating plan and manual rules filed with the superintendent by an advisory organization designated by the director. B. Premium contributions to the group shall be determined by applying the manual rates and rules to the appropriate classification of each member, which shall be adjusted […]
A. Any money for a fund year in excess of the amount necessary to fund all obligations for that fund year may be declared to be refundable by the board of trustees not less than twelve months after the end of the fund year. B. Each member shall be given a written description of the […]
A. Each group shall establish to the satisfaction of the director a premium payment plan that shall include: (1) an initial payment by each member of at least twenty-five percent of that member’s annual premium before the start of the group’s fund year; and (2) payment of the balance of each member’s annual premium in […]
As used in the Group Self-Insurance Act: A. “administrator” means an individual, partnership or corporation engaged by a group’s board of trustees to carry out the policies established by that board and to provide day-to-day management of the group; B. “group” means a not-for-profit unincorporated association consisting of two or more public hospital employers or […]
A. If the assets of a group are at any time insufficient to enable the group to discharge its legal liabilities and other obligations and to maintain the reserves required of it under the Group Self-Insurance Act, it shall forthwith make up the deficiency or levy an assessment upon its members for the amount needed […]
After notice and opportunity for a hearing, the director may impose a monetary penalty on any person or group found to be in violation of any provision of the Group Self-Insurance Act or of any rules or regulations promulgated thereunder. The monetary penalty shall not exceed one thousand dollars ($1,000) for each act or violation […]
A. After notice and opportunity for a hearing, the director may issue an order requiring a person or group to cease and desist from engaging in an act or practice found to be in violation of any provision of the Group Self-Insurance Act or of any rules or regulations promulgated thereunder. B. Upon a finding, […]
A. After notice and opportunity for a hearing, the director may revoke a group’s certificate of approval if it: (1) is found to be insolvent; (2) fails to pay any premium tax, regulatory fee or assessment or special fund contribution imposed upon it; or (3) fails to comply with any of the provisions of the […]
Notice and hearing required by the provisions of Sections 52-6-21, 52-6-22 and 52-6-23 NMSA 1978 shall be given and held pursuant to the applicable provisions of Chapter 59A, Article 4 NMSA 1978. A party may appeal from an order of the director made after a hearing, pursuant to Section 39-3-1.1 NMSA 1978. History: Laws 1986, […]
The director may make rules and regulations necessary to implement the provisions of the Group Self-Insurance Act. History: Laws 1986, ch. 22, § 99; 1990 (2nd S.S.), ch. 2, § 82. ANNOTATIONS The 1990 (2nd S.S.) amendment, effective January 1, 1991, substituted “director” for “superintendent” and deleted “pursuant to Section 59A-2-9 NMSA 1978” following “Act”. […]
The provisions of the Group Self-Insurance Act apply to groups. Except as provided by the provisions of that act, groups that are issued a certificate of approval by the director shall not be deemed to be insurers or businesses of insurance and shall not be subject to the provisions of the Insurance Code or other […]
No person, association or other entity shall act as a group unless it has been issued a certificate of approval by the director. History: Laws Laws 1986, ch. 22, § 78; 1990 (2nd S.S.), ch. 2, § 69. ANNOTATIONS The 1990 (2nd S.S.) amendment, effective January 1, 1991, substituted “director” for “superintendent”.
