Societies which are now authorized to transact business in this state may continue such business until March 1 next succeeding the effective date of this act. The authority of such societies and all societies thereafter licensed shall continue in force as long as the society is entitled thereto under that article and until suspended or revoked by the superintendent or terminated at the society's request; subject, however, to the payment of the annual continuation fee specified in Section 59A-44-36 NMSA 1978. A duly certified copy or duplicate of such certificate of authority shall be prima facie evidence that such society is a fraternal benefit society within the meaning of Chapter 59A, Article 44 NMSA 1978.
History: 1978 Comp., § 59A-44-27, enacted by Laws 1989, ch. 388, § 27.
ANNOTATIONSRepeals and reenactments. — Laws 1989, ch. 388, § 27, repealed 59A-44-27 NMSA 1978, as enacted by Laws 1984, ch. 127, § 812, relating to suspension, revocation or refusal of a license of a foreign or alien society, and enacted a new section, effective January 1, 1990.
Compiler's notes. — The phrase "effective date of this act", referred to in the first sentence, means January 1, 1990, the effective date of Laws 1989, ch. 388.
The phrase "that article", referred to in the second sentence, apparently means present Article 44 (59A-44-1 to 59A-44-45 NMSA 1978).