Unpaid premiums or charges for the furnishing of workmen's compensation insurance furnished to any contractor or subcontractor, who is required by the terms of his contract or by law to obtain and carry such insurance, shall be and is hereby defined to be material furnished to the contractor or subcontractor for use in the performance of the contract, and the person, firm or corporation so furnishing the same shall have the same rights and remedies against any performance bond given in connection with such contract as if the workmen's compensation insurance so furnished were physical property, and as though a lien had been filed against the improved premises, but shall have no lien against the improved premises.
§ 48-2-17 NMSA 1978
Contractors; workmen's compensation insurance premiums; rights against performance bond
Applied in 1 court decision — leading case Farmers and Merchants Bank of Las Cruces, New Mexico v. Board of Governors of the Federal Reserve System, First New Mexico Bankshare Corp., Intervenor (1977)
Most recently applied in Farmers and Merchants Bank of Las Cruces, New Mexico v. Board of Governors of the Federal Reserve System, First New Mexico Bankshare Corp., Intervenor (December 1977)
1953 Comp., § 61-2-17, enacted by Laws 1967, ch. 127, § 1.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.