N.M. Admin. Code § 13.2.8.17

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

Section 13.2.8.17 - CREDIT FOR REINSURANCE REQUIRED BY LAW

Pursuant to Subsection E of Section 59A-12E-13 NMSA, the superintendent will allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of Sections 59A-12E-3 through 59A-12E-13 NMSA 1978, but only as to the insurance of risks located in jurisdictions where the reinsurance is required by the applicable law or rule of that jurisdiction.

N.M. Admin. Code § 13.2.8.17

7/1/97; Recompiled 11/30/01, Adopted by New Mexico Register, Volume XXIX, Issue 14, July 24, 2018, eff. 7/24/2018, Adopted by New Mexico Register, Volume XXXIII, Issue 12, June 21, 2022, eff. 7/1/2022