A. As to management, records and affairs of the insurer a member of a domestic mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer.

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Terms Used In New Mexico Statutes 59A-34-25

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

B. Subsection A above shall not be deemed to:

(1)     subject the mutual insurer to requirements of Sections 560 [59A-34-14 N.M. Stat. Ann.] (information to stockholders and proxy regulations), 561 [59A-34-15 N.M. Stat. Ann.] (information in advance of stockholder meetings) or 562 [59A-34-16 N.M. Stat. Ann.] (solicitation of proxies) of this article; or

(2)     give mutual members the right of dissent and appraisal on any merger, consolidation, bulk reinsurance, or sale of assets of the insurer.

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