Every insurer, nonprofit health care plan, health maintenance organization, prepaid dental plan or prearranged funeral plan transacting business in New Mexico that fails to pay when due any fees as required in Chapter 59A, Article 6 NMSA 1978 may be liable to the state for the amount thereof and for penalty of up to one thousand dollars ($1,000) for each month or part thereof it has failed to pay the fees when due. Services of process in any action against a person to recover the fee or penalty may be made upon the superintendent as attorney for service of process as provided in Section 59A-5-32 NMSA 1978.
History: Laws 1984, ch. 127, § 104; 1987, ch. 259, § 6; 1988, ch. 76, § 2; 1993, ch. 320, § 16; 2018, ch. 57, § 15.
ANNOTATIONSThe 2018 amendment, effective January 1, 2020, removed the penalty for failure to file when due any report for taxation or pay the tax owed; in the catchline, after "failure to", deleted "report or", and after "pay", deleted "tax or"; after "New Mexico that fails to", deleted "file when due any report for taxation, regardless of whether tax is due, or to", after "when due any", deleted "tax or", after "as required in", deleted "this" and added "Chapter 59A", after "Article", deleted "shall" and added "6 NMSA 1978 may", after "penalty of", added "up to", after "thereof it has failed to", deleted "file the report or", after "pay the", deleted "tax or", after "fees", deleted "after demand therefor" and added "when due", and after "person to recover the", deleted "tax".
Temporary provisions. — Laws 2018, ch. 57, § 30 provided that:
A. On January 1, 2020, all personnel directly involved with the audit and collection of the taxes imposed pursuant to the New Mexico Insurance Code prior to the effective date of this act, functions, appropriations, money, records, furniture, equipment and other property of, or attributable to, the financial audit bureau of the office of superintendent of insurance shall be transferred to the taxation and revenue department.
B. On January 1, 2020, no contractual obligations of the office of superintendent of insurance shall be binding on the taxation and revenue department.
The 1993 amendment, effective June 18, 1993, in the first sentence, inserted "regardless of whether tax is due" and deleted "of New Mexico" following "state".
Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 C.J.S. Insurance §§ 96, 97.