A. The superintendent may exempt from the requirements of Section 59A-8A-8 N.M. Stat. Ann. the specific product forms or product lines of a domestic company that is licensed and doing business only in New Mexico if:

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(1)     the superintendent has issued a written exemption to the company and has not subsequently revoked the exemption in writing; and

(2)     the company computes reserves using the assumptions and methods used prior to the operative date of the valuation manual and using any requirements established by the superintendent and promulgated by rule.

B. For a company granted an exemption pursuant to this section, Sections 59A-8A- 4, 59A-8A-6 and 59A-8A-7 N.M. Stat. Ann. apply. For a company that applies this exemption, a reference to Section 59A-8A-8 N.M. Stat. Ann. that is found in Sections 59A- 8A-4, 59A-8A-6 and 59A-8A-7 N.M. Stat. Ann. does not apply.