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§ 59A-45-15 NMSA 1978

Civil penalties

Known as the Insurance Premium Financing Law

The act spans §§ 59–59 (16 sections).

Laws 1984, ch. 127, § 846.

In addition to any penalties imposed pursuant to Sections 844 or 845 [ 59A-45-13 or 59A-45-14 NMSA 1978] of this article, the district court may, in an action filed by the superintendent, impose the following civil penalties:

A. for each violation of this article a penalty of not more than one thousand dollars ($1,000) but not to exceed an aggregate penalty of ten thousand dollars ($10,000) in any six-month period; and

B. for each violation of an order issued by the superintendent pursuant to Section 845 of this article, a penalty of not more than ten thousand dollars ($10,000).

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.