New Mexico Statutes Chapter 59A. Insurance Code § 59A-12C-2. Definitions

A. “accredited state” means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the national association of insurance commissioners;

B. “control” or “controlled” has the meaning ascribed in The Insurance Holding Company Law;

C. “controlled insurer” means an authorized insurer which is controlled, directly or indirectly, by a broker;

D. “controlling broker” means a broker who, directly or indirectly, controls an insurer;

E. “authorized insurer” or “insurer” means any person, firm, association or corporation duly authorized to transact a property or casualty insurance business in this state. The following are not authorized insurers for the purposes of the Broker Controlled Insurer Law:

F. “broker” means an insurance broker or brokers or any other person, firm, association or corporation, when, for any compensation, commission or other thing of value, such person, firm, association or corporation acts or aids in any manner in soliciting, negotiating or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association or corporation.