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Current as of January 01, 2024 | Updated by Findlaw Staff
Every insurer, nonprofit health care plan, health maintenance organization, prepaid dental plan or prearranged funeral plan transacting business in New Mexico that fails to pay when due any fees as required in Chapter 59A, Article 6 NMSA 1978 may be liable to the state for the amount thereof and for penalty of up to one thousand dollars ($1,000) for each month or part thereof it has failed to pay the fees when due. Services of process in any action against a person to recover the fee or penalty may be made upon the superintendent as attorney for service of process as provided in Section 59A-5-32 NMSA 1978.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-6-4. Penalty for failure to pay fees - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-6-4/
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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