§ 59A-38-1 Lloyds Plan automobile insurance authorized
§ 59A-38-2 Approval of policies; attorney-in-fact
§ 59A-38-3 Application for certificate of authority
§ 59A-38-4 Cash or security deposit
§ 59A-38-5 Surplus required
§ 59A-38-6 Limit on volume of insurance written
§ 59A-38-7 Determining solvency; investments
§ 59A-38-8 Distribution of profits; how determined
§ 59A-38-9 Impairment
§ 59A-38-10 Withdrawal of underwriters
§ 59A-38-11 Lloyds Plan insurance producers; licensing
§ 59A-38-12 Lloyds Plan an “insurer”
§ 59A-38-13 Illegal transactions; penalty
§ 59A-38-14 Venue of action
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Terms Used In New Mexico Statutes > Chapter 59A > Article 38 - Lloyds Plan Automobile Insurance

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Service of process: The service of writs or summonses to the appropriate party.