Section 59A-5-15 - Insuring power combinations.

NM Stat § 59A-5-15 (2019) (N/A)
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An insurer which otherwise qualifies therefor shall be authorized to transact any one kind or combination of kinds of insurance as defined in Sections 107 through 115 [59A-7-1 to 59A-7-9 NMSA 1978] (kinds of insurance) of the Insurance Code, except:

A. a life insurer may grant annuities and may be authorized to transact in addition only health insurance;

B. a reciprocal insurer or Lloyds insurer shall not transact life insurance; and

C. a title insurer shall be a stock or mutual corporation, and shall not transact any additional kind of insurance.

History: Laws 1984, ch. 127, § 82.

Compiler's notes. — Laws 2016, ch. 89, § 70 repealed Sections 59A-7-5, 59A-7-8 and 59A-7-9 NMSA 1978, effective July 1, 2017. For provisions of former sections, see the 2016 NMSA 1978 on NMOneSource.com.