HOUSE BILL 454

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Dona G. Irwin

AN ACT

RELATING TO INSURANCE; PROHIBITING RISK RETENTION GROUPS FROM WRITING MALPRACTICE LIABILITY INSURANCE.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 59A-55-11 NMSA 1978 (being Laws 1988, Chapter 125, Section 11) is amended to read:

     "59A-55-11. PROHIBITED ACTS REGARDING SOLICITATION OR SALE.--The following acts by a risk retention group are prohibited:

          A. the solicitation or sale of insurance by a risk retention group to any person who is not eligible for membership in such group; [and]

          B. the solicitation or sale of insurance by, or operation of, a risk retention group that is in hazardous financial condition or financially impaired; and

          C. writing health care provider malpractice liability insurance pursuant to the Medical Malpractice Act."

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