In addition to any other penalties provided by the laws of this state, any insurer and any agent found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of such insurance shall be subject to a fine of up to three times the amount of any commissions paid for each policy involved in the violation or up to ten thousand dollars ($10,000), whichever is greater.
§ 59A-23A-10 NMSA 1978
Penalties
Known as the Long-Term Care Insurance Law
The act spans §§ 59–59 (13 sections).
1978 Comp., § 59A-23A-10, enacted by Laws 1993, ch. 126, § 14.
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.