New Mexico Statutes 59A-58-8. Transactions not subject to New Mexico Insurance Code;
Current as of: 2024 | Check for updates
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exceptions.
Terms Used In New Mexico Statutes 59A-58-8
- Contract: A legal written agreement that becomes binding when signed.
A. Except as otherwise provided in the Service Contract Regulation Act, the marketing, issuance, sale, offering for sale, making, proposing to make and administration of service contracts are not subject to the provisions of the New Mexico Insurance Code [N.M. Stat. Ann. Chapter 59A], except, when applicable, the provisions of N.M. Stat. Ann. Chapter 59A, Article 16.
B. A provider, person who sells service contracts, administrator or any other person is not required to obtain a certificate of authority or license from the superintendent to issue, sell, offer for sale or administer service contracts.