N.M. Admin. Code § 13.10.11.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 13.10.11.8 - MEMBERSHIP

A. All persons listed in Section 59A-56-4 NMSA 1978 of the act shall organize and remain members of the alliance as a condition of their authority to transact insurance business in New Mexico.

B. Such persons who were authorized to transact insurance business in New Mexico as of March 4, 1994, shall be members of this alliance. Each insurer admitted thereafter shall automatically become a member of the alliance effective on the date of its admission. A member which ceases to be admitted after said date shall automatically cease to be a member effective on the day following the termination or expiration of its certificate of authority to transact the business of health insurance as defined in the act; provided, however, that such member shall remain liable for any assessment or assessments based on net losses sustained by the alliance through the end of the year of cessation. This liability shall constitute a claim against the member's deposit with the insurance division.

C. Issues of determination of eligibility of any person or entity as an alliance member shall be resolved by the board of directors. If a member is aggrieved by the final action or decision of the board, or if the board does not act on such complaint within 60 days, the member may appeal to the superintendent. Such appeal must be filed within 60 days after the action or decision of the board or the board's failure to act on such complaint.

N.M. Admin. Code § 13.10.11.8

13.10.11.8 NMAC - N, 6-1-01