N.M. Admin. Code § 2.83.200.10

Current through Register Vol. 35, No. 17, September 10, 2024

Section 2.83.200.10 - RULEMAKING

A. Prior to the adoption, amendment or repeal of any rule, the board shall, at least thirty days prior to its proposed action:

(1) publish notice of its proposed action in a newspaper with a general statewide circulation. The notice shall:

(a) give the time and place of any public hearing and state the manner in which data, views or arguments may be submitted to the board by any interested person;

(b) describe the substance of the proposed action, and state the subjects and issues involved;

(c) include any additional matter required by any law, together with specific reference to the statutory authority under which the rule is proposed; and

(2) afford all interested persons reasonable opportunity to submit data, views or arguments orally or in writing; if the board finds that oral presentation is unnecessary or impracticable, it may require that presentation be made in writing; the board shall consider fully all written and oral submissions addressing the proposed rule; upon adoption of a rule contested at hearing or otherwise, the board shall issue a concise statement of its principal reasons for adoption of the rule; all persons heard or represented at any hearing, or who submit any writing to be considered in connection with the proposed rule, shall promptly be given a copy of the rule, by mail or otherwise, if such persons so request in writing.

B. If the board finds that immediate adoption, amendment or suspension of a rule is necessary for the preservation of the soundness of the fund or general welfare of the association, or if the board for good cause finds that observance of the requirements of notice and public hearing would be contrary to the interests of the association, board may dispense with such requirements and adopt, amend or suspend the rule as an emergency. The board's finding and a brief statement of the reasons for its finding shall be incorporated in the emergency rule, amendment or suspension. No emergency rule, amendment or suspension shall remain in effect for longer than sixty days, unless notice shall be given within ten days of the adoption of the emergency rule and a hearing held as provided in this section within ninety days of the notice.

N.M. Admin. Code § 2.83.200.10

10-15-97; 2.83.200.10 NMAC - Rn & A, 2 NMAC 83.200.10, 12-28-00