New Mexico Statutes 59A-32A-9. Trust accounts
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Notwithstanding any provision of the Rental Car Insurance Limited Producer License Act or any other rule or statute, a licensee pursuant to that act shall not be required to treat money collected from renters purchasing rental car insurance when renting rental cars as funds received in a fiduciary capacity or to hold the funds in separate trust accounts.
Terms Used In New Mexico Statutes 59A-32A-9
- Fiduciary: A trustee, executor, or administrator.
- Statute: A law passed by a legislature.