The provisions of the Group Self-Insurance Act apply to groups. Except as provided by the provisions of that act, groups that are issued a certificate of approval by the director shall not be deemed to be insurers or businesses of insurance and shall not be subject to the provisions of the Insurance Code or other insurance laws and regulations.
History: Laws 1986, ch. 22, § 77; 1990 (2nd S.S.), ch. 2, § 68.
ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
The 1990 (2nd S.S.) amendment, effective January 1, 1991, substituted "that" for "which" and "director" for "superintendent".