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New Mexico Statutes Chapter 41. Torts § 41-5-25.1. Patient's compensation fund advisory board; created; membership; powers and duties

Current as of January 01, 2024 | Updated by Findlaw Staff

A. The “patient's compensation fund advisory board” is created to advise the superintendent and the third-party administrator. The office of superintendent of insurance shall provide staff services to the advisory board. The advisory board shall be established by July 2, 2021.

B. The nine-member advisory board shall consist of:

(1) two representatives from the New Mexico trial lawyers association;

(2) two representatives of a statewide association representing hospitals;

(3) two representatives of a statewide association representing physicians;

(4) two patient or patient advocate representatives; and

(5) one representative of a statewide association representing certified nurse practitioners.

C. Members of the advisory board shall be chosen annually by their organizations, as applicable, and the patient or patient advocate representatives shall be chosen by the chief justice of the supreme court from nominations made by the New Mexico trial lawyers association. Members of the advisory board are entitled to receive per diem and mileage pursuant to the Per Diem and Mileage Act, but shall receive no other compensation, perquisite or allowance.

D. The advisory board shall elect a chair and a vice chair. A majority of the members constitutes a quorum for the transaction of business. All decisions of the advisory board shall be by majority vote of the members present.

E. The advisory board shall convene at least twice a year or at the request of the superintendent to:

(1) review the process and data for the setting of the surcharges for all qualified health care providers pursuant to the Medical Malpractice Act;

(2) advise the superintendent concerning surcharge data accumulation and results;

(3) advise the superintendent on the surcharges to be set by the superintendent; and

(4) prepare an annual report to the legislature on the operations and financial condition of the fund no later than the first day of each year's legislative session.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 41. Torts § 41-5-25.1. Patient's compensation fund advisory board; created; membership; powers and duties - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-41-torts/nm-st-sect-41-5-25-1/

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