For the purposes of this article a "promoter" is any person who, acting alone or with others, initiates or participates in founding an insurer or organization to acquire financial interest in or to finance, manage or control an insurer, other than as policyholder.
§ 59A-35-5 NMSA 1978
"Promoter" defined
Known as the Sale of Insurance Securities Law
The act spans §§ 59–59 (18 sections).
Laws 1984, ch. 127, § 594.
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.