"Reciprocal" insurance defined.

  1. Law
  2. New Mexico Statutes
  3. Insurance Code
  4. Reciprocal Insurers
  5. "Reciprocal" insurance defined.

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As used in the Insurance Code, "reciprocal" insurance is that resulting from an interchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interchange being effectuated through an attorney-in-fact common to all such persons.

History: Laws 1984, ch. 127, § 658.

ANNOTATIONS

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

Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance §§ 77 to 83.


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