§ 59A-39-1 “Reciprocal” insurance defined
§ 59A-39-2 Scope of chapter; existing insurers
§ 59A-39-3 Insuring powers of reciprocals
§ 59A-39-4 Name; suits
§ 59A-39-5 Attorney
§ 59A-39-6 Organization of reciprocal insurer
§ 59A-39-7 Certificate of authority
§ 59A-39-8 Power of attorney
§ 59A-39-9 Modifications
§ 59A-39-10 Attorney’s bond
§ 59A-39-11 Deposit in lieu of bond
§ 59A-39-12 Action on bond
§ 59A-39-13 Service of process; judgment
§ 59A-39-14 Contributions to insurer
§ 59A-39-15 Financial condition; method of determining
§ 59A-39-16 Who may be subscribers
§ 59A-39-17 Subscribers’ advisory committee
§ 59A-39-18 Subscribers’ liability
§ 59A-39-19 Subscribers’ liability on judgment
§ 59A-39-20 Assessments
§ 59A-39-21 Time limit for assessments
§ 59A-39-22 Aggregate liability
§ 59A-39-23 Nonassessable policies
§ 59A-39-24 Subscribers’ share in assets
§ 59A-39-25 Merger or conversion
§ 59A-39-26 Impaired reciprocals
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Terms Used In New Mexico Statutes > Chapter 59A > Article 39 - Reciprocal Insurers

  • 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.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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.
  • 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
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Trustee: A person or institution holding and administering property in trust.