The incurred loss experience and expense of the company shall be ascertained each year. If there is an excess of assets over liabilities, necessary reserves and a reasonable surplus for the catastrophe hazard, then a cash dividend may be declared to or a credit allowed to an employer who has been insured with the company in accordance with criteria approved by the board, which may account for the employer's safety record and performance.
§ 52-9-11 NMSA 1978
Annual accountings; possible dividends and credits
Known as the Employers Mutual Company Act
The act spans §§ 52–52 (25 sections).
Laws 1990 (2nd S.S.), ch. 2, § 131.
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.