Penalty for violation.

  1. Law
  2. New Mexico Statutes
  3. Insurance Code
  4. Unauthorized Insurers
  5. Penalty for violation.

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Any unauthorized insurer which transacts in this state any insurance business in violation of the Insurance Code shall be subject to fine of not to exceed twenty thousand dollars ($20,000) for each such violation.

History: Laws 1984, ch. 127, § 265.

ANNOTATIONS

Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.


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