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New Mexico Statutes Chapter 59A. Insurance Code § 59A-58-13. Business name restrictions

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

A. Except as otherwise provided in this section, a provider shall not include in the name of his business:

(1) the words “insurance”, “casualty”, “surety”, “mutual” or any other word or term that implies that he is engaged in the business of transacting insurance or is a surety company; or

(2) a name that is deceptively similar to the name or description of an insurer or surety company or the name of another provider.

B. A provider may include the word “guaranty” or a similar word in the name of his business.

C. This section does not apply to a provider who, before January 1, 2002, includes in the name of his business a name that does not comply with the provisions of Subsection A of this section. Such a provider shall include in each service contract he issues, sells or offers for sale a statement that the service contract is not a contract of insurance.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-58-13. Business name restrictions - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-58-13/

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