A. The provisions of this article shall not limit the authority of the following institutions to engage in insurance premium financing or apply to:
(1) any life insurer authorized to do business in the state;
(2) any national banking institution;
(3) any state bank;
(4) any savings and loan association;
(5) any small loan company; or
(6) any credit union.
B. The licensing and bonding provisions of this article shall not apply to:
(1) any insurer, other than those exempt from this article pursuant to Paragraph A(1); and
(2) any insurance agent licensed by this state.
C. This article shall not apply to the financing of insurance premiums in connection with a transaction under the Motor Vehicle Sales Finance Act [58-19-1 to 58-19-12 NMSA 1978], or under Sections 56-1-1 to 56-1-15 NMSA 1978.
History: Laws 1984, ch. 127, § 835.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.