History: Laws 1984, ch. 127, § 123; 1993, ch. 320, § 21; recompiled and amended as 59A-8A-3 by Laws 2014, ch. 59, § 17.
ANNOTATIONSRecompilations. — Laws 2014, ch. 59, § 17 recompiled and amended former 59A-8-6 NMSA 1978 as 59A-8A-3 NMSA 1978, effective January 1, 2017. See compiler's note below.
Compiler's notes. — Pursuant to Laws 2014, ch. 59, § 55, the effective date of Laws 2014, ch. 59, §§ 15 through 27 was January 1, 2017. On June 30, 2016, the superintendent of insurance certified to the New Mexico compilation commission and the director of the legislative council service that:
(1) the most recent version of the manual of valuation instructions adopted by the national association of insurance commissioners has been adopted by the national association of insurance commissioners by an affirmative vote of at least forty-two members or three-fourths of the members voting, whichever is greater;
(2) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by states that collectively represent more than seventy-five percent of written direct premiums, as reported in the life, accident and health annual statements, the health annual statements and the fraternal annual statements submitted for 2008; and
(3) the Standard Valuation Law of the national association of insurance commissioners, as amended in 2009, or legislation including substantially similar terms and provisions, has been enacted by at least forty-two of the following fifty-five jurisdictions:
(a) the fifty states of the United States;
(b) American Samoa;
(c) the Virgin Islands of the United States;
(d) the District of Columbia;
(e) Guam; and
(f) Puerto Rico.