FORTY-EIGHTH LEGISLATURESB 350/a

FIRST SESSION, 2007

February 9, 2007

Madam President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 350

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On page 19, strike lines 10 through 21 and insert in lieu thereof, the following new section:

    "Section 10. Section 59A-16-20.1 NMSA 1978 (being Laws 1993, Chapter 350, Section 1) is amended to read:

    "59A-16-20.1. HOMEOWNER'S CASUALTY INSURANCE--PREMIUM RATE AND POLICY--PROTECTION AFTER NATURAL DISASTER.--

         A. A homeowner's casualty insurance policy shall not be canceled or denied renewal because of a homeowner's claim made as a result of damages caused by a natural disaster to the homeowner's private residence, provided that the homeowner's policy expressly provides for such coverage.

         B. The provisions of this section apply to all insurance carriers authorized under the Insurance Code to transact homeowner's casualty insurance policies. For the purposes of this section, "natural disaster" means any hurricane, tornado, storm, flood, high water, wind-driven water, earthquake, landslide, mudslide, snowstorm, drought, fire, explosion or other catastrophe that results in substantial damage to property, hardship, suffering or loss of life."".,

and thence referred to the JUDICIARY COMMITTEE.

                               Respectfully submitted,

                               __________________________________

                               Shannon Robinson, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 6 For 0 Against

Yes:      6

No:       0

Excused: Duran, Griego, Ortiz y Pino

Absent:   None

SB0350CT1                                                  .166135.1