Every society authorized to do business in this state shall be subject to the provisions of Chapter 59A, Article 16 NMSA 1978 relating to trade practices and frauds; provided, however, that nothing in such provisions shall be construed as applying to or affecting the right of any society to determine its eligibility requirements for membership or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation.
History: 1978 Comp., § 59A-44-34, enacted by Laws 1989, ch. 388, § 34.
Repeals and reenactments. — Laws 1989, ch. 388, § 34, repealed 59A-44-34 NMSA 1978, as amended by Laws 1987, ch. 259, § 27, relating to reports and valuations, and enacted a new section, effective January 1, 1990.
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