New Mexico Statutes 59A-39-1. “Reciprocal” insurance defined
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As used in the Insurance Code, “reciprocal” insurance is that resulting from an interchange among persons, known as “subscribers,” of reciprocal agreements of indemnity, the interchange being effectuated through an attorney-in-fact common to all such persons.
Terms Used In New Mexico Statutes 59A-39-1
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.