The company shall not be considered a state agency for any purpose. This includes exempting the company from all state personnel, salary and procurement statutes, rules and regulations. The insurance operations of the company are subject to all of the applicable provisions of the Insurance Code in the same manner as those provisions apply to a private insurance company. The company is subject to the same tax liabilities and assessments as a private insurance company.
§ 52-9-21 NMSA 1978
Exemption from and applicability of certain laws
Known as the Employers Mutual Company Act
The act spans §§ 52–52 (25 sections).
Laws 1990 (2nd S.S.), ch. 2, § 141.
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.