Notwithstanding any provision of the Rental Car Insurance Limited Producer License Act or any other rule or statute, a licensee pursuant to that act shall not be required to treat money collected from renters purchasing rental car insurance when renting rental cars as funds received in a fiduciary capacity or to hold the funds in separate trust accounts.

Terms Used In New Mexico Statutes 59A-32A-9

  • Fiduciary: A trustee, executor, or administrator.
  • Statute: A law passed by a legislature.