No insurer shall assume an obligation to a person other than a policyholder or other insurers that with it are under common control or management or are members of a joint underwriting organization subject to the provisions of Section 59A-17-25 NMSA 1978, to use or adhere to certain rates or rules, and no other person shall impose a penalty or other adverse consequence for failure of an insurer to adhere to certain rates or rules except as to action by the superintendent in enforcement of Section 59A-17-12 NMSA 1978.
History: Laws 1984, ch. 127, § 321; 2007, ch. 367, § 26.
ANNOTATIONSThe 2007 amendment, effective July 1, 2007, amended the section to delete the adherence to filed rules and require compliance with 59A-17-12 NMSA 1978.