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

"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."

HB 842

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