SENATE BILL 129

44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

INTRODUCED BY

William H. Payne

AN ACT

RELATING TO MOTOR VEHICLE INSURANCE; PROVIDING FOR EXCLUSION OF PAYMENT OF PUNITIVE DAMAGES IN UNINSURED MOTORIST COVERAGE.

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

Section 1. A new Section 66-5-301.2 is enacted to read:

"66-5-301.2. [NEW MATERIAL] INSURANCE AGAINST UNINSURED MOTORISTS--EXCLUSION OF PUNITIVE DAMAGES FROM COVERAGE.--

Uninsured motorist coverage may exclude payment of punitive damages assessed against an owner or operator of an uninsured motor vehicle.

.125656.2