No information need be disclosed on the registration statement filed pursuant to Sections 59A-37-4 and 59A-37-5 NMSA 1978 if such information is not material for the purposes of Sections 59A-37-1 through 59A-37-19 NMSA 1978. Unless the superintendent by rule, regulation or order provides otherwise, sales, purchases, exchanges, loans or extensions of credit, investments or guarantees involving one-half of one percent or less of an insurer's admitted assets as of the most recent December 31 shall not be deemed material for the purposes of such section.
History: Laws 1984, ch. 127, § 628; 2014, ch. 59, § 36.
ANNOTATIONSThe 2014 amendment, effective July 1, 2014, provided that guarantees of one-half percent or less of admitted assets are not material; in the first sentence, after "filed pursuant to Sections", deleted "619 and 620 of this article" and added "59A-37-4 and 59A-37-5 NMSA 1978", and after "for the purposes of", deleted "Section 626 through 634 of this article" and added "Sections 59A-37-11 through 59A-37-19 NMSA 1978", and in the second sentence, after "investments", added "or guarantees", and after "admitted assets as of", added "the most recent", and after "December 31", deleted "next preceding".
Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.