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Section 59A-55-22 - Administrative and procedural authority regarding risk retention groups and purchasing groups.

NM Stat § 59A-55-22 (2019) (N/A)
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The superintendent is authorized to make use of any of the powers established under the New Mexico Insurance Code to enforce the laws of New Mexico not specifically preempted by the Risk Retention Act of 1986 including the superintendent's administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, impose penalties and seek injunctive relief. With regard to any investigation, administrative proceedings or litigation, the procedural laws of New Mexico shall apply. The injunctive authority of the superintendent, in regard to risk retention groups, is restricted by the requirement that any injunction be issued by a court of competent jurisdiction.

History: Laws 1988, ch. 125, § 22.

Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.

Compiler's notes. — The reference to the Risk Retention Act of 1986 should be either to the Risk Retention Amendments of 1986, which appear as 15 U.S.C. §§ 3901 to 3903, 3905, 3906 and 42 U.S.C. §§ 9671 to 9675, or to the Liability Risk Retention Act of 1986, which appears as 15 U.S.C. §§ 3901 to 3903.

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Section 59A-55-20 - Restrictions on insurance purchased by purchasing groups.
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Section 59A-55-23 - Penalties.