N.M. Admin. Code § 18.3.3.8

Current through Register Vol. 35, No. 19, October 8, 2024

Section 18.3.3.8 - PROOF OF FINANCIAL RESPONSIBILITY

Every motor carrier must ensure that the minimum required financial responsibility is on file with the department during all periods of operation. The insurance policy must be in the exact legal and "doing business as" name of the motor carrier and be endorsed with the expiration date of "until canceled". Insurance companies are required to submit the uniform filing forms directly to the department.

A.Bodily injury and property damage coverage: The following documents are accepted:

(1) a uniform filing "form E" submitted to the department by an insurance company authorized to transact insurance business in New Mexico; or

(2) a uniform filing "form G" for a surety bond issued by a company authorized to do surety business in New Mexico; or

(3) a copy of the motor carrier's self-insured policy.

B.Cargo liability coverage: A uniform filing "form H" submitted to the department by a company authorized to transact insurance business in New Mexico.

N.M. Admin. Code § 18.3.3.8

18.3.3.8 NMAC - Rp, SCC Rules 231.01 and 232.02, 12-30-02, Amended by New Mexico Register, Volume XXVI, Issue 03 February 13, 2015, eff. 2/13/2015, Adopted by New Mexico Register, Volume XXXV, Issue 12, June 25, 2024, eff. 7/1/2024