This article [N.M. Stat. Ann. Chapter 59A, Article 27] applies only as to contracts of marine and transportation insurance, as such insurance is defined in Section 111 [59A- 7-5 NMSA 1978][repealed] of the Insurance Code. All such insurance contracts shall be subject to the provisions, as applicable, of Article 18 [N.M. Stat. Ann. Chapter 59A, Article 18] (the insurance contract) of the Insurance Code.

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