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Current as of January 01, 2024 | Updated by Findlaw Staff
A. An agent, broker, solicitor, examining physician, applicant or other person shall not knowingly or willfully:
(1) make a false or fraudulent statement or representation as to a material fact in or with reference to an application for insurance or other coverage;
(2) for the purpose of obtaining money or benefit, present or cause to be presented a false or fraudulent claim or proof in support of such a claim for payment of loss under a policy;
(3) prepare, make or subscribe a false or fraudulent account, certificate, affidavit or proof of loss or other document with intent that the same may be presented or used in support of such a claim; or
(4) make a false or fraudulent statement or representation on or relative to an application for a policy for the purpose of obtaining a fee, commission or benefit from an insurer, agent, broker or individual.
B. A false statement or representation made under oath shall constitute and be punishable as perjury. A violation of the provisions of this section when the purported loss or potential loss to the victim insurer is:
(1) two hundred fifty dollars ($250) or less is a petty misdemeanor;
(2) over two hundred fifty dollars ($250) but not more than five hundred dollars ($500) is a misdemeanor;
(3) over five hundred dollars ($500) but not more than two thousand five hundred dollars ($2,500) is a fourth degree felony;
(4) over two thousand five hundred dollars ($2,500) but not more than twenty thousand dollars ($20,000) is a third degree felony; or
(5) over twenty thousand dollars ($20,000) is a second degree felony.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-16-23. False applications, claims, proofs of loss - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-16-23/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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