Each insurer authorized to write and writing essential property insurance in New Mexico shall be required to become and remain a member of the FAIR plan and the underwriting association and comply with the requirements thereof as a condition of its authority to transact property insurance business. As a prerequisite to such authority to transact property insurance business each insurer shall automatically subscribe to the articles of agreement on file in the superintendent's office.
§ 59A-29-3 NMSA 1978
Participation
Known as the FAIR Plan Act
The act spans §§ 59–59 (10 sections).
1978 Comp., § 59A-29-3, enacted by Laws 1985, ch. 61, § 3.
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.