Sections 66-5-201 through 66-5-239 NMSA 1978 may be cited as the “Mandatory Financial Responsibility Act”. History: 1953 Comp., § 64-5-201, enacted by Laws 1978, ch. 35, § 277; 1983, ch. 318, § 1. ANNOTATIONS Cross references. — For provisions relating to operator’s and chauffeur’s licenses, see 66-5-1.1 NMSA 1978 et seq. Compiler’s notes. — Many […]
The legislature is aware that motor vehicle accidents in New Mexico can result in catastrophic financial hardship. The purpose of the Mandatory Financial Responsibility Act is to require residents of New Mexico who own and operate motor vehicles upon the highways of the state either to have the ability to respond in damages to accidents […]
ANNOTATIONS Repeals. — Laws 1990, ch. 120, § 45 repealed 66-5-202 NMSA 1978, as enacted by Laws 1978, ch. 35, § 278, relating to definitions, effective July 1, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com. For present comparable provisions, see 66-1-4.1 to 66-1-4.20 NMSA 1978.
The director shall: A. administer and enforce the provisions of the Mandatory Financial Responsibility Act and may make rules and regulations necessary for its administration; B. receive and consider any pertinent information upon request of persons aggrieved by his orders or acts under any of the provisions of the Mandatory Financial Responsibility Act; and C. […]
An owner of a motor vehicle registered in New Mexico who is aggrieved by the decision of the secretary made under the provisions of the Mandatory Financial Responsibility Act may appeal to the administrative hearings office for a hearing to be held within twenty days after the receipt by the administrative hearings office of the […]
A. No owner shall permit the operation of an uninsured motor vehicle, or a motor vehicle for which evidence of financial responsibility as was affirmed to the department is not currently valid, upon the streets or highways of New Mexico unless the vehicle is specifically exempted from the provisions of the Mandatory Financial Responsibility Act. […]
A. When a law enforcement officer issues a driver who is involved in an accident a citation for failure to comply with the provisions of the Mandatory Financial Responsibility Act [66-5-201 to 66-5-239 NMSA 1978], the law enforcement officer shall at the same time: (1) issue to the driver cited a temporary operation sticker, valid […]
ANNOTATIONS Repeals. — Laws 1991, ch. 174, § 1 repealed 66-5-205.2 NMSA 1978, as enacted by Laws 1989, ch. 214, § 2, relating to uninsured motorist involved in accident and procedures for reporting possible claim, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
A. A motor vehicle insurance policy shall: (1) designate by explicit description or by appropriate reference all motor vehicles to which coverage is to be granted; and (2) insure the person named in the policy and a person using any such motor vehicle with the express or implied permission of the named insured against loss […]
A. The department shall not issue or renew the registration for any motor vehicle not covered by a motor vehicle insurance policy or by evidence of financial responsibility currently valid meeting the requirements of the laws of New Mexico and of the secretary, unless specifically exempted from the Mandatory Financial Responsibility Act. B. Upon a […]
The following motor vehicles are exempt from the Mandatory Financial Responsibility Act: A. a motor vehicle owned by the United States government, any state or any political subdivision of a state; B. an implement of husbandry or special mobile equipment that is only incidentally operated on a highway; C. a motor vehicle operated upon a […]
A. The superintendent of insurance shall issue a certificate of self-insurance to any applicant with motor vehicles registered in his name in this state, provided that the applicant has met the same criteria for self-insurance as set by the superintendent of insurance for workmen’s compensation liability. B. Upon not less than five days’ notice and […]
“Evidence of financial responsibility,” as used in the Mandatory Financial Responsibility Act, means evidence of the ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of the evidence, arising out of the ownership, maintenance or use of a vehicle of a type subject to registration under the […]
“Judgment,” as used in the Mandatory Financial Responsibility Act, means any judgment which becomes final by expiration without appeal of the time within which an appeal might have been perfected or by final affirmation on appeal rendered by a court of competent jurisdiction of any state or of the United States, upon a cause of […]
A. Any two or more of the persons involved in or affected by a motor vehicle accident may at any time enter into a written settlement agreement for the payment of an agreed amount with respect to all claims of any of the persons because of bodily injury to or the death of any person […]
Whenever any person fails within thirty days to satisfy any judgment, then upon the written request of the judgment creditor or his attorney it shall be the duty of the clerk of the court, or the judge of a court which has no clerk, in which any such judgment is rendered within this state to […]
A. When a nonresident’s operating privilege is suspended under the Mandatory Financial Responsibility Act and Sections 66-5-301 through 66-5-303 NMSA 1978, the division may transmit a certified copy of the record of such action to the official in charge of the issuance of licenses and registration certificates in the state in which the nonresident resides […]
If the judgment creditor or party to a settlement agreement consents in writing in such form as the division may prescribe that the judgment debtor or other party to a settlement agreement be allowed license and registration or nonresident’s operating privilege, the same may be allowed by the division, in its discretion, for six months […]
A discharge in bankruptcy shall not relieve any person from any of the requirements of the Mandatory Financial Responsibility Act. History: 1953 Comp., § 64-24-78, enacted by Laws 1955, ch. 182, § 315; recompiled as 1953 Comp., § 64-5-221, by Laws 1978, ch. 35, § 297; 1978 Comp., § 66-5-221, recompiled as § 66-5-214 by […]
A. Judgments herein referred to shall, for the purpose of the Mandatory Financial Responsibility Act only, be deemed satisfied when: (1) twenty-five thousand dollars ($25,000) has been credited upon any judgment or judgments rendered in excess of that amount because of bodily injury to or death of one person as the result of any one […]
