0001| HOUSE BILL 330
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| EDDIE CORLEY
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO WORKERS' COMPENSATION; AMENDING THE GROUP SELF-
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0012| INSURANCE ACT TO PERMIT ALTERNATIVE PREMIUM PAYMENT PLANS;
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0013| DECLARING AN EMERGENCY.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. Section 52-6-19 NMSA 1978 (being Laws 1986,
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0017| Chapter 22, Section 93, as amended) is amended to read:
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0018| "52-6-l9. PREMIUM PAYMENT--RESERVES.--
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0019| A. Each group shall establish to the satisfaction
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0020| of the director a premium payment plan that shall include:
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0021| (1) an initial payment by each member of at
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0022| least twenty-five percent of that member's annual premium
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0023| before the start of the group's fund year; and
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0024| (2) payment of the balance of each member's
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0025| annual premium in monthly or quarterly installments during that
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0001| fund year.
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0002| B. Upon approval by the director, a group may
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0003| establish an alternative premium payment plan that shall
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0004| include:
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0005| (1) provision by each member of premium
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0006| security by surety bond in an amount equal to at least twenty-
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0007| five percent of the member's annual premium; provided that the
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0008| surety bond shall be in a form acceptable to the group, shall
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0009| be issued by a corporate surety company authorized to transact
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0010| business in this state and shall be effective before the start
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0011| of the group's fund year; and
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0012| (2) payment by each member of the member's
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0013| annual premium in monthly or quarterly installments during the
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0014| group's fund year.
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0015| [B.] C. Each group shall establish and maintain
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0016| actuarially appropriate loss reserves that shall include
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0017| reserves for:
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0018| (1) known claims and associated expenses; and
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0019| (2) claims incurred but not reported and
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0020| associated expenses.
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0021| [C.] D. Each group shall establish and maintain
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0022| bad debt reserves based on the historical experience of the
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0023| group or other groups."
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0024| Section 2. EMERGENCY.--It is necessary for the public
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0025| peace, health and safety that this act take effect immediately. State of New Mexico
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0001| House of Representatives
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0002|
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0003| FORTY-THIRD LEGISLATURE
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0004| FIRST SESSION, 1997
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0005|
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0006|
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0007| February 12, 1997
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0008|
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0009|
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0010| Mr. Speaker:
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0011|
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0012| Your JUDICIARY COMMITTEE, to whom has been referred
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0013|
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0014| HOUSE BILL 330
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0015|
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0016| has had it under consideration and reports same with
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0017| recommendation that it DO PASS.
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0018|
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0019| Respectfully submitted,
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0020|
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0021|
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0022|
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0023|
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0024|
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0025| Thomas P. Foy, Chairman
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0001|
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0002|
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0003| Adopted Not Adopted
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0004|
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0005| (Chief Clerk) (Chief Clerk)
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0006|
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0007| Date
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0008|
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0009| The roll call vote was 10 For 0 Against
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0010| Yes: 10
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0011| Excused: M.P. Garcia, Rios, Sanchez
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0012| Absent: None
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0013|
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0014|
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0015| G:\BILLTEXT\BILLW_97\H0330
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0016|
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0017| FORTY-THIRD LEGISLATURE
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0018| FIRST SESSION, 1997
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0019|
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0020|
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0021| March 19, 1997
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0022|
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0023| Mr. President:
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0024|
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0025| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to
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0001| whom has been referred
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0002|
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0003| HOUSE BILL 330
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0004|
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0005| has had it under consideration and reports same with
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0006| recommendation that it DO PASS.
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0007|
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0008| Respectfully submitted,
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0009|
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0010|
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0011|
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0012|
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0013| __________________________________
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0014| Roman M. Maes, III, Chairman
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0015|
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0016|
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0017|
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0018| Adopted_______________________ Not
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0019| Adopted_______________________
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0020| (Chief Clerk) (Chief Clerk)
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0021|
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002| The roll call vote was 10 For 0 Against
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0003| Yes: 10
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0004| No: 0
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0005| Excused: None
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0006| Absent: None
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0007|
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0008|
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0009| H0330CT1
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0010|
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0011|
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0012| FORTY-THIRD LEGISLATURE
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0013| FIRST SESSION, 1997
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0014|
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0015|
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0016| March 17, 1997
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0017|
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0018| Mr. President:
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0019|
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0020| Your PUBLIC AFFAIRS COMMITTEE, to whom has been
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0021| referred
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0022|
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0023| HOUSE BILL 330
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0024|
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0025| has had it under consideration and reports same with
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0001| recommendation that it DO PASS, and thence referred to the
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0002| CORPORATIONS & TRANSPORTATION COMMITTEE.
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0003|
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0004| Respectfully submitted,
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0005|
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0006|
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0007|
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0008|
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0009| __________________________________
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0010| Shannon Robinson, Chairman
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0011|
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0012|
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0013|
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0014| Adopted_______________________ Not
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0015| Adopted_______________________
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0016| (Chief Clerk) (Chief Clerk)
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0017|
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0018|
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0019| Date ________________________
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0020|
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0021|
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0022| The roll call vote was 5 For 0 Against
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0023| Yes: 5
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0024| No: 0
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0025| Excused: Adair, Boitano, Ingle, Rodarte
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0001| Absent: 0
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0002|
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0003|
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0004| H0330PA1
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0005|
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