New Mexico Statutes 59A-18-1. Scope of article
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N.M. Stat. Ann. Chapter 59A, Article 18 applies as to all insurance policies and annuity contracts of authorized insurers covering individuals resident, or risks located, or insurance protection to be rendered in this state, other than:
Terms Used In New Mexico Statutes 59A-18-1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
A. reinsurance;
B. policies or contracts not issued for delivery in this state nor delivered in this state, except for contracts for or endorsements of workers’ compensation insurance when the workers’ compensation risk insured arises from the employment of a worker performing work for an employer in New Mexico and that employer is not domiciled in New Mexico;
C. wet marine and transportation insurance; or
D. surplus lines insurance contracts, unless such contracts are specifically included by rule.