The purpose of this act [ 59A-21-26 to 59A-21-28 NMSA 1978] is to permit and set guidelines for life insurers to include in life insurance policies issued after the effective date of this act a provision for periodic adjustment of policy loan interest rates.
§ 59A-21-26 NMSA 1978
Purpose
Known as the Group Life Insurance Law
The act spans §§ 59–59 (28 sections).
1978 Comp., § 59-16-44, enacted by Laws 1983, ch. 283, § 1; 1978 Comp., § 59-16-44, recompiled as § 59A-21-26 by Laws 1987, ch. 259, § 32.
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.