HOUSE STATE GOVERNMENT, ELECTIONS AND INDIAN AFFAIRS

 COMMITTEE SUBSTITUTE FOR

HOUSE BILL 311

54th legislature - STATE OF NEW MEXICO - first session, 2019

AN ACT

RELATING TO INSURANCE; REQUIRING ORGANIZATIONS THAT PUBLISH INFORMATION REGARDING COMMUNITY FIRE PROTECTION OR BUILDING CODE INFORMATION TO PROVIDE NOTICE OF UNFAVORABLE CHANGES TO THE OFFICE OF SUPERINTENDENT OF INSURANCE; REQUIRING THAT INSURERS PROVIDE NOTICE TO CUSTOMERS ADVERSELY AFFECTED.

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

     SECTION 1. A new section of Chapter 59A, Article 18 NMSA 1978 is enacted to read:

     "[NEW MATERIAL] NOTICE.--

          A. An organization that publishes information regarding the effectiveness of community fire protection or building code information, including public protection classifications, community grading, building code effectiveness classifications or fire suppression rating schedules for use by residential property insurers in this state, shall provide notice of any unfavorable change in a community's classification to the office of superintendent of insurance.

          B. Upon receiving notice of an unfavorable change in a community's public protection classification, community grading, building code effectiveness classification or fire suppression rating schedule, the office of superintendent of insurance shall issue a bulletin notifying insurers of the change and the communities affected and instructing insurers to notify customers who may be adversely affected by the unfavorable change within ninety days of the publication of the bulletin."

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is January 1, 2020.

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