A. An alien insurer may use New Mexico as a state of entry to transact insurance in the United States by making and maintaining in this state a deposit of assets in trust with a bank or trust company domiciled in this state and designated or approved by the state treasurer and the superintendent and by obtaining a certificate of authority to transact the business of insurance in this state in accordance with N.M. Stat. Ann. Chapter 59A, Article 5.

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Terms Used In New Mexico Statutes 59A-10-11

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

B. The deposit shall be in an amount not less than as required of an alien insurer under Section 59A-5-20 N.M. Stat. Ann. and shall consist of assets eligible for deposit under Subsection B of Section 59A-10-3 N.M. Stat. Ann..

C. Such a deposit may be referred to as “trusteed assets”.

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