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§ 59A-6-4 NMSA 1978

Penalty for failure to pay fees

Laws 1984, ch. 127, § 104; 1987, ch. 259, § 6; 1988, ch. 76, § 2; 1993, ch. 320, § 16; 2018, ch. 57, § 15.

Every insurer, nonprofit health care plan, health maintenance organization, prepaid dental plan or prearranged funeral plan transacting business in New Mexico that fails to pay when due any fees as required in Chapter 59A, Article 6 NMSA 1978 may be liable to the state for the amount thereof and for penalty of up to one thousand dollars ($1,000) for each month or part thereof it has failed to pay the fees when due. Services of process in any action against a person to recover the fee or penalty may be made upon the superintendent as attorney for service of process as provided in Section 59A-5-32 NMSA 1978.

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.