A. The Mandatory Financial Responsibility Act does not apply to or affect policies of motor vehicle insurance against liability which may now or hereafter be required by any other law of New Mexico, and such policies, if they contain an agreement or are endorsed to conform with the requirements of the Mandatory Financial Responsibility Act, may be considered as evidence of financial responsibility under that act.
B. The Mandatory Financial Responsibility Act does not apply to or affect policies insuring solely the insured named in the policy against liability resulting from the maintenance or use by persons in the insured's employ or on his behalf of motor vehicles not owned by the insured.
History: 1953 Comp., § 64-5-233, enacted by Laws 1978, ch. 35, § 309; 1978 Comp., § 66-5-233, recompiled as 1978 Comp., § 66-5-224 by Laws 1983, ch. 318, § 23.
Recompilations. — Laws 1983, ch. 318, § 17, recompiled former 66-5-224 NMSA 1978, relating to actions in the case of breach of agreement, as 66-5-217 NMSA 1978, effective January 1, 1984.
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