A. An insurer or advisory organization that makes a rate filing under the Insurance Rate Regulation Law and fails, without reasonable cause, to provide the data requested by the superintendent within thirty working days from the date of the request shall be subject to an administrative penalty as provided in Section 59A-1-18 NMSA 1978.
B. The superintendent may, for good cause shown, grant an extension of the thirty-day time period provided for in Subsection A of this section.
C. The insurer or advisory organization may, within ten days after entry of the order, request a hearing before the superintendent as provided in Section 59A-17-34 NMSA 1978.
History: 1978 Comp., § 59A-17-36, enacted by Laws 1989, ch. 145, § 2; 2007, ch. 367, § 35.
ANNOTATIONSThe 2007 amendment, effective July 1, 2007, changed "rate service organizations" to "advisory organizations".