New Mexico Statutes 52-8-10. Withdrawal of certification; grounds
A. If certification of a self-insurer is withdrawn by the director, the private employer shall not be considered a self-insurer during any appeal of that determination. The private employer shall therefore obtain any necessary coverage from other sources pending resolution of the appeal.
Terms Used In New Mexico Statutes 52-8-10
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
B. Certification of a self-insurer may be withdrawn by the director in accordance with regulations he adopts. The regulations shall consider the following as grounds for termination:
(1) the employer no longer meets the requirements, financial or otherwise, of being a qualified self-insurer;
(2) the self-insurer engages in or induces workers to engage in fraudulent practices;
(3) the self-insurer fails to comply with rules and regulations of the director; or
(4) the self-insurer fails to maintain a sufficient fund balance, in which event certification shall be withdrawn effective the date that the fund balance is insufficient.