N.M. Admin. Code § 17.11.10.22

Current through Register Vol. 35, No. 23, December 10, 2024

Section 17.11.10.22 - FUND DISBURSEMENTS

A. The administrator shall make a monthly disbursement to each ETC eligible to receive such a payment from collected revenues in the fund, on a schedule to be determined by the administrator.

B. The amount of each ETC's monthly disbursement shall be one-twelfth of its revenue requirements computed in accordance with 17.11.10.19 NMAC, subject to proration as provided in Subsection E of 17.11.10.20 NMAC.

C. Only carriers holding ETC status as of October 1 shall be eligible to receive disbursements from the fund during the year that begins the following January 1.

D. The administrator shall not pay, and shall hold in escrow, any disbursements otherwise due to an ETC that is also a contributing company, if that company shall not be in compliance with its contribution requirements.

N.M. Admin. Code § 17.11.10.22

17.11.10.22 NMAC - N, 11/30/05, Adopted by New Mexico Register, Volume XXV, Issue 24, December 30, 2014, eff. 1/1/2015, Adopted by New Mexico Register, Volume XXVII, Issue 02, January 29, 2016, eff. 1/29/2016, Adopted by New Mexico Register, Volume XXVII, Issue 24, December 30, 2016, eff. 1/1/2017, Adopted by New Mexico Register, Volume XXVIII, Issue 24, December 26, 2017, eff. 1/1/2018, Adopted by New Mexico Register, Volume XXXII, Issue 03, February 9, 2021, eff. 2/9/2021, Adopted by New Mexico Register, Volume XXXV, Issue 05, March 12, 2024, eff. 3/12/2024