New Mexico Statutes 59A-49-7. May not enforce contract sold in violation; insurer may not pay to restricted persons without consent
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A. No person may enforce in any court of this state any asserted obligation of a purchaser of a funeral plan sold in violation of this article.
Terms Used In New Mexico Statutes 59A-49-7
- funeral plan: means any contract, agreement, certificate, share, membership, right or interest or other form of instrument which is sold, providing for the future delivery of one or any combination of the following:
(1) . See New Mexico Statutes 59A-49-4
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means any individual, estate, trust, receiver, association, cooperative, club, corporation, company, firm, partnership, joint venture or syndicate, and includes an officer or employee of a corporation, a member or employee of a partnership or any individual who, as such, is under a duty to perform any act or to refrain from any act by reason of which a violation occurs. See New Mexico Statutes 59A-49-4
B. No authorized insurer shall pay or permit to be paid any money accruing as a benefit of a policy to any person restricted from selling funeral plans under Subsection A of Section 903 [59A-49-5 N.M. Stat. Ann.] of this article without the written consent of the person or persons entitled to such benefit after accrual thereof.