§ 59A-34-1 Scope of article
§ 59A-34-2 Application of general corporation statutes
§ 59A-34-3 Insurance business exclusive; exceptions
§ 59A-34-4 Incorporation
§ 59A-34-5 Filing, recording of articles; authority to raise capital or transact insurance required
§ 59A-34-6 Amendment of articles of incorporation
§ 59A-34-7 Nonuser of corporate charter
§ 59A-34-8 Prohibited interest of officers, directors and employees in certain transactions
§ 59A-34-9 Salaries of officers, directors
§ 59A-34-10 Records and accounts
§ 59A-34-11 Vouchers for expenditures
§ 59A-34-12 Assets to be kept in state; exceptions
§ 59A-34-13 Removal, concealment of records, assets
§ 59A-34-14 Information to stockholders and proxy regulations
§ 59A-34-15 Information in advance of stockholder meetings
§ 59A-34-16 Solicitation of proxies
§ 59A-34-17 Management, compensation and agency contracts
§ 59A-34-18 Dividends to stockholders
§ 59A-34-19 Participating policies
§ 59A-34-20 Dividends to policyholders
§ 59A-34-21 Illegal dividends; penalty
§ 59A-34-22 Purchase of own shares by stock insurer
§ 59A-34-23 Borrowed capital funds
§ 59A-34-24 Mutual membership
§ 59A-34-25 Mutual members, corporate rights
§ 59A-34-26 Mutual insurer bylaws
§ 59A-34-27 Mutual members, quorum
§ 59A-34-28 Mutual members, contingent liability
§ 59A-34-29 Mutual members, levy of contingent liability
§ 59A-34-30 Mutual members, enforcement of contingent liability
§ 59A-34-31 Mutual insurers; nonassessable policies
§ 59A-34-32 Prohibited transactions
§ 59A-34-33 Unauthorized business in other states
§ 59A-34-34 Mutualization of stock insurer
§ 59A-34-35 Conversion to ordinary business corporation
§ 59A-34-36 Merger, consolidation of stock insurers
§ 59A-34-37 Preservation of old charter in merger, consolidation
§ 59A-34-38 Merger, consolidation of mutual insurers
§ 59A-34-39 Conversion of mutual to stock insurer
§ 59A-34-40 Bulk reinsurance
§ 59A-34-41 Bulk reinsurance; fees and commissions
§ 59A-34-42 Expense to be borne by parties
§ 59A-34-43 Mutual member’s share of assets on liquidation
§ 59A-34-44 Material transactions; report
§ 59A-34-45 Acquisition and disposition of assets; materiality;
§ 59A-34-46 Nonrenewals, cancellations or revisions of ceded reinsurance programs; materiality; scope; reporting requirements
lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In New Mexico Statutes > Chapter 59A > Article 34 - Domestic Stock and Mutual Insurers

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • 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.
  • 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.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Trustee: A person or institution holding and administering property in trust.