The insurer shall pay to New Mexico annually a premium tax based solely upon its gross premium receipts from insurance policies issued by it in New Mexico which cover residents of New Mexico or property or risks principally domiciled or located in this state, as shown by reports of the insurer filed with the superintendent each year, upon the same percentage rate and in the same manner as apply to authorized insurers transacting in New Mexico the same kinds of insurance. The insurer shall also pay such other applicable fees, charges and taxes as are required under the Insurance Code to be paid by such other authorized insurers. The insurer shall make the same reports to the superintendent and the National Association of Insurance Commissioners as are required of such other authorized insurers, but in such adapted forms as may for the purpose be prescribed by the superintendent.
History: Laws 1984, ch. 127, § 688.
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
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