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As used in the Insurance Code, “reciprocal” insurance is that resulting from an interchange among persons, known as “subscribers,” of reciprocal agreements of indemnity, the interchange being effectuated through an attorney-in-fact common to all such persons.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-39-1. “Reciprocal” insurance defined - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-39-1.html
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