New Mexico Statutes 59A-1-13. “Transacting insurance”
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In addition to other aspects of insurance operations to which the Insurance Code by its terms applies, “transacting insurance” with respect to an insurance contract or a business of insurance includes any of the following, by mail or otherwise or whether or not for profit:
Terms Used In New Mexico Statutes 59A-1-13
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
A. solicitation or inducement; B. negotiation;
C. effectuation of an insurance contract;
D. transaction of matters subsequent to effectuation and arising out of such a contract;
E. maintenance in this state of an office or personnel performing any function in furtherance of an insurer’s business of insurance; or
F. maintenance by an insurer of assets in trust in this state for the benefit, security or protection of its policyholders or its policyholders and creditors.