HOUSE BILL 107

46th legislature - STATE OF NEW MEXICO - first session, 2003

INTRODUCED BY

W. Ken Martinez







AN ACT

RELATING TO INSURANCE; ENACTING A NEW SECTION OF THE NEW MEXICO INSURANCE CODE TO PROHIBIT AN ADDITIONAL CHARGE FOR AUTOMOBILE INSURANCE TO A FIRST-TIME PURCHASER OR A PURCHASER REINSTATING COVERAGE.



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

Section 1. A new section of Chapter 59A, Article 32 NMSA 1978 is enacted to read:

"[NEW MATERIAL] An insurer shall not charge a higher rate or an additional assessment, surcharge or fee because the insured is a first-time purchaser of automobile insurance or has not been insured for a period of time immediately prior to the purchase of automobile insurance."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2003.