N.M. Admin. Code § 13.2.12.8

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.2.12.8 - APPLICABILITY, OVERSIGHT PROVISIONS AND PRESUMPTION OF CONTROL

A. The oversight power of the office pursuant to the act applies to proposed transactions that involve a New Mexico hospital.

B. Being subject to the act does not preclude or negate any person regulated pursuant to the insurance hold company law.

C. Control is presumed to exist if a person, directly or indirectly, owns, controls, or holds fifteen percent or more of the power to vote or holds proxies representing fifteen percent or more of the voting securities of any other person.

D. The presumption may be rebutted by a showing in the manner provided by Section 59A-37-19 NMSA 1978 that control does not in fact exist.

N.M. Admin. Code § 13.2.12.8

Adopted by New Mexico Register, Volume XXXV, Issue 09, May 7, 2024, eff. 5/15/2024, Adopted by New Mexico Register, Volume XXXV, Issue 17, September 10, 2024, eff. 9/10/2024