No health care plan shall during any one calendar year incur expense for acquisition of its business more than ten percent of its premium income earned during that year; nor incur during any such year for expense of administration more than twenty percent of such earned premiums.
§ 59A-47-19 NMSA 1978
Limitation upon acquisition and administration expenses
Known as the Nonprofit Health Care Plan Law
The act spans §§ 59–59 (84 sections).
Laws 1984, ch. 127, § 879.17.
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.