The rates and premiums charged for insurance policies to which this article apply [applies] shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer, less any amounts returned to the member insurer by the association, and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
§ 59A-43-15 NMSA 1978
Recognition of assessment in rates
Known as the Property and Casualty Insurance Guaranty Law
The act spans §§ 59–59 (18 sections).
Laws 1984, ch. 127, § 781.
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.