§ 59A-19-1 Short title; exclusive control
§ 59A-19-2 Scope of article
§ 59A-19-3 Definitions
§ 59A-19-4 Minimum language simplification standards
§ 59A-19-5 Superintendent may allow lower reading ease score
§ 59A-19-6 Approval of forms
§ 59A-19-7 Effective date of approval requirement
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Terms Used In New Mexico Statutes > Chapter 59A > Article 19 - Policy Language Simplification

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Statute: A law passed by a legislature.