New Mexico Statutes Chapter 59A. Insurance Code § 59A-5-24. Suspension or revocation of certificate of authority; mandatory grounds

(1) if such action is required by any provision of the Insurance Code; or

(2) if a foreign insurer and it no longer meets the qualifications and requirements for a certificate of authority, on account of deficiency of capital or surplus or otherwise, subject to Section 92 of this article relative to impairment; or

(3) if a domestic insurer and it has failed to cure an impairment of capital or surplus within the time allowed therefor by the superintendent under the Insurance Code or is otherwise no longer qualified for the certificate of authority; or

(4) if the insurer's certificate of authority to transact insurance therein is suspended or revoked by its state of domicile, or state of entry into the United States if an alien insurer.