As prerequisite to continuance of its certificate of authority, each health care plan shall on or before March 1 each year file with the superintendent and with the national association of insurance commissioners an annual statement in accordance with the requirements of Section 59A-5-29 NMSA 1978 and a risk-based capital report in accordance with the requirements of Section 59A-5A-3 NMSA 1978.
History: Laws 1984, ch. 127, § 879.12; 2014, ch. 59, § 52.
The 2014 amendment, effective July 1, 2014, required insurers to annually file a statement of financial condition and transactions and a risk-based capital report; after "national association of insurance", deleted "superintendents its financial statement for the year ending December 31 immediately preceding on form as prescribed and furnished without charge by the superintendent" and added the remainder of the sentence; deleted the former second sentence, which required the form to correspond to the form adopted by the national association of insurance superintendents; and deleted the former third sentence, which required the statement to be verified by the president and secretary of the health care plan.
Severability. — Laws 2014, ch. 59, § 54 provided that if any part or application of the provisions of Laws 2014, ch. 59 is held invalid, the remainder or its application to other situations or persons shall not be affected.
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