N.M. Stat. § 59A-5-15

Current through 2024, ch. 69

Section 59A-5-15 - Insuring power combinations

An insurer which otherwise qualifies therefor shall be authorized to transact any one kind or combination of kinds of insurance as defined in Sections 107 through 115 [59A-7-1 to 59A-7-9 NMSA 1978] (kinds of insurance) of the Insurance Code, except:

A. a life insurer may grant annuities and may be authorized to transact in addition only health insurance;

B. a reciprocal insurer or Lloyds insurer shall not transact life insurance; and

C. a title insurer shall be a stock or mutual corporation, and shall not transact any additional kind of insurance.

NMS § 59A-5-15

Laws 1984, ch. 127, § 82.