N.M. Code R. § 13.2.12.10

Current through Register Vol. 35, No. 9, May 7, 2024

Section 13.2.12.10 - [Effective 5/15/2024] PAYMENT OF COSTS, REQUIREMENTS FOR CONSULTATION AND EXPERTS

A. The office shall consult with the authority about the potential effect of the proposed transaction and incorporate the authority's recommendations into the office's final determination.

B. The office may retain actuaries, accountants, attorneys, or other professionals who are qualified and have expertise in the type of transaction under review as necessary to assist the office in conducting its review of the proposed transaction.

C. The office shall notify parties before any costs are incurred when a transaction review requires the use of outside experts, including the estimated cost of the outside expert's services.

D. The parties shall pay the reasonable costs and expenses incurred by the office in the performance of the office's or authority's duties pursuant to the act for costs associated with the office's contracts with experts, unless determined otherwise by the superintendent.

E. The parties shall not effectuate a transaction without the written approval of the superintendent. The submitting party shall notify the office of general counsel in writing via the email address located on the office's website, when the transaction has been effectuated.

N.M. Code R. § 13.2.12.10

Adopted by New Mexico Register, Volume XXXV, Issue 09, May 7, 2024, eff. 5/15/2024