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Section 59A-22-11 - Time of payment of claims.

NM Stat § 59A-22-11 (2019) (N/A)
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There shall be a provision as follows:

Indemnities payable under this policy for any loss other than loss for which this policy provides any periodic payment will be paid immediately upon receipt of due written proof of such loss. Subject to due written proof of loss, all accrued indemnities for loss for which this policy provides periodic payment will be paid . . . . . . . . . . (insert period for payment which must not be less frequently than monthly) and any balance remaining unpaid upon the terminatiion [termination] of liability will be paid immediately upon receipt of due written proof.

History: Laws 1984, ch. 127, § 432.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

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Section 59A-22-10 - Proofs of loss.
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Section 59A-22-12 - Payment of claims.