N.M. Stat. § 59A-16-15

Current through 2024, ch. 69

Section 59A-16-15 - Discrimination; rebates and certain inducements prohibited; life, health and annuity contracts

Except as otherwise expressly provided by law, no person shall directly or indirectly, as an inducement to any contract of life, annuity or health insurance:

A. offer, pay or accept any special favor or advantage, any rebate of premiums or any valuable consideration or promise whatsoever; or

B. promise any returns or profits, interest or dividends not specified in the contract.

NMS § 59A-16-15

Laws 1984, ch. 127, § 281.

Amended by 2021, c. 108,s. 9, eff. 7/1/2021.