N.M. Admin. Code § 1.5.21.18

Current through Register Vol. 35, No. 24, December 23, 2024

Section 1.5.21.18 - INSURANCE AND INDEMNIFICATION

A.Insurance provisions: All leases between the agency and a private lessor shall contain insurance provisions that have been approved by GSD's risk management division.

B.Indemnification: No lease governed by this rule shall contain any provision whereby the agency agrees to defend, indemnify or provide tort liability insurance for any lessor.

C.Lease provisions void: Any insurance or indemnification provision in any lease executed in violation of this section shall be void and of no effect.

N.M. Admin. Code § 1.5.21.18

12/31/98; Recompiled 11/30/01