A. The following acts shall be violations of Sections 59A-37-4 through 59A-37-6 NMSA 1978:
(1) the failure to file any statement, amendment or other material required to be filed pursuant to Section 59A-37-4 or 59A-37-5 NMSA 1978; or
(2) the effectuation or any attempt to effectuate an acquisition of control of a domestic insurer unless the superintendent has given approval to it.
B. The failure to timely file a registration statement, a summary of the registration statement or an enterprise risk filing required by Sections 59A-37-11 through 59A-37-19.2 NMSA 1978 and Section 59A-37-30 NMSA 1978 is a violation of Sections 59A-37-11 through 59A-37-19.2 NMSA 1978 and Section 59A-37-30 NMSA 1978.
History: Laws 1984, ch. 127, § 624; 2014, ch. 59, § 34.
ANNOTATIONSThe 2014 amendment, effective July 1, 2014, provided that failure to file a registration statement, a summary of a registration statement, or an enterprise risk filing is a violation of the Insurance Holdings Company Law; in Subsection A, after "Sections", deleted "619 through 621 of this article" and added "59A-37-4 through 59A-37-6 NMSA 1978"; in Subsection A, Paragraph (1), after "filed pursuant to", deleted "Sections 619 or 620 of this article" and added "Sections 59A-37-4 or 59A-37-5 NMSA 1978"; and added Subsection B.
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.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 C.J.S. Insurance §§ 96, 97.