New Mexico 2025 Regular Session

New Mexico Senate Bill SB124 Compare Versions

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1		-	~~SB 124~~
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	28	+	SENATE BILL 124
	29	+	57TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 2025
	30	+	INTRODUCED BY
	31	+	Katy M. Duhigg
28	32		AN ACT
29	33		RELATING TO THE OFFICE OF SUPERINTENDENT OF INSURANCE;
30		-	PROVIDING THE POWER TO ISSUE A CIVIL INVESTIGATIVE SUBPOENA
31		-	TO THE SUPERINTENDENT OF INSURANCE; PROVIDING PROCEDURES TO
32		-	~~COMPEL~~ COMPLIANCE WITH SUCH A SUBPOENA.
	34	+	PROVIDING THE POWER TO ISSUE A CIVIL INVESTIGATIVE SUBPOENA TO
	35	+	THE SUPERINTENDENT OF INSURANCE; PROVIDING PROCEDURES TO COMPEL
	36	+	COMPLIANCE WITH SUCH A SUBPOENA.
33	37		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
34	38		SECTION 1. Section 59A-2-8 NMSA 1978 (being Laws 1984,
35	39		Chapter 127, Section 26, as amended) is amended to read:
36		-	"59A-2-8. GENERAL POWERS AND DUTIES OF
37		-	SUPERINTENDENT.--
	40	+	"59A-2-8. GENERAL POWERS AND DUTIES OF SUPERINTENDENT.--
38	41		A. The superintendent shall:
39	42		(1) organize and manage the office of
40	43		superintendent of insurance and direct and supervise all its
41	44		activities;
42	45		(2) execute the duties imposed upon the
43	46		superintendent by the Insurance Code;
44		-	(3) enforce those provisions of the
45		-	Insurance Code that are administered by the superintendent;
46		-	(4) have the powers and authority expressly
47		-	conferred by or reasonably implied from the provisions of the
48		-	Insurance Code;
49		-	(5) conduct such examinations and
50		-	investigations of insurance matters, in addition to those
51		-	expressly authorized, as the superintendent may deem proper SB 124
52		-	Page 2
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	74	+	(3) enforce those provisions of the Insurance
	75	+	Code that are administered by the superintendent;
	76	+	(4) have the powers and authority expressly
	77	+	conferred by or reasonably implied from the provisions of the
	78	+	Insurance Code;
	79	+	(5) conduct such examinations and
	80	+	investigations of insurance matters, in addition to those
	81	+	expressly authorized, as the superintendent may deem proper
78	82		upon reasonable and probable cause to determine whether a
79	83		person has violated a provision of the Insurance Code or to
80	84		secure information useful in the lawful enforcement or
81	85		administration of the provision; provided that:
82		-	(a) when examining or investigating
83		-	~~such~~ insurance matters, the superintendent may issue a civil
	86	+	(a) when examining or investigating such
	87	+	insurance matters, the superintendent may issue a civil
84	88		investigative subpoena prior to the issuance of a notice of
85		-	contemplated action; and
	89	+	contemplated action; and provided further that the authority to
	90	+	issue a specific civil investigative subpoena pursuant to this
	91	+	subparagraph may be delegated to staff; and
86	92		(b) upon failure of a person without
87		-	lawful excuse to obey a subpoena and upon reasonable notice
88		-	to all persons affected, the enforcing authority may apply to
89		-	~~the~~ district court for an order compelling compliance;
	93	+	lawful excuse to obey a subpoena and upon reasonable notice to
	94	+	all persons affected, the enforcing authority may apply to the
	95	+	district court for an order compelling compliance;
90	96		(6) have the power to sue or be sued;
91	97		(7) have the power to make, enter into and
92	98		enforce all contracts, agreements and other instruments
93		-	necessary, convenient or desirable in the exercise of the
94		-	superintendent's powers and functions and for the purposes of
95		-	the Insurance Code;
96		-	(8) prepare an annual budget for the office
97		-	of superintendent of insurance;
98		-	(9) have the right to require performance
99		-	bonds of employees as the superintendent deems necessary
100		-	pursuant to the Surety Bond Act. The office of
101		-	superintendent of insurance shall pay the cost of required
102		-	bonds; SB 124
103		-	Page 3
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	127	+	necessary, convenient or desirable in the exercise of the
	128	+	superintendent's powers and functions and for the purposes of
	129	+	the Insurance Code;
	130	+	(8) prepare an annual budget for the office of
	131	+	superintendent of insurance;
	132	+	(9) have the right to require performance
	133	+	bonds of employees as the superintendent deems necessary
	134	+	pursuant to the Surety Bond Act. The office of superintendent
	135	+	of insurance shall pay the cost of required bonds;
129	136		(10) comply with the provisions of the
130	137		Administrative Procedures Act;
131	138		(11) upon an order based upon the invocation
132	139		of a state of emergency under the All Hazard Emergency
133	140		Management Act or the Public Health Emergency Response Act by
134		-	the governor, take those actions necessary to ensure access
135		-	to insurance and the stability of insurance markets during
136		-	~~the~~ emergency. Such actions may include issuing emergency
137		-	~~rules or~~ orders to address any or all of the following
138		-	~~matters related~~ to insurance policies issued in New Mexico:
	141	+	the governor, take those actions necessary to ensure access to
	142	+	insurance and the stability of insurance markets during the
	143	+	emergency. Such actions may include issuing emergency rules or
	144	+	orders to address any or all of the following matters related
	145	+	to insurance policies issued in New Mexico:
139	146		(a) grace periods for payment of
140		-	insurance premiums and performance of other duties by
141		-	insureds;
	147	+	insurance premiums and performance of other duties by insureds;
142	148		(b) refund of premiums;
143	149		(c) waiver of cost sharing or
144	150		deductibles;
145	151		(d) temporary postponement of
146		-	cancellations and nonrenewals;
147		-	(e) reporting requirements for claims;
148		-	and
149		-	(f) suspension of compliance with a
150		-	statute, rule or contract, if strict compliance would
151		-	prevent, hinder or delay necessary action in response to the
152		-	emergency; and
153		-	(12) have such additional powers and duties SB 124
154		-	Page 4
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180		-	as may be provided by other laws of this state.
	180	+	cancellations and nonrenewals;
	181	+	(e) reporting requirements for claims;
	182	+	and
	183	+	(f) suspension of compliance with a
	184	+	statute, rule or contract, if strict compliance would prevent,
	185	+	hinder or delay necessary action in response to the emergency;
	186	+	and
	187	+	(12) have such additional powers and duties as
	188	+	may be provided by other laws of this state.
181	189		B. If a state of emergency under the All Hazard
182	190		Emergency Management Act or the Public Health Emergency
183		-	Response Act is invoked by the governor, and the
184		-	~~superintendent~~ issues emergency rules or orders to address
185		-	~~matters related to~~ insurance policies issued in New Mexico,
186		-	~~each emergency rule or~~ order:
	191	+	Response Act is invoked by the governor, and the superintendent
	192	+	issues emergency rules or orders to address matters related to
	193	+	insurance policies issued in New Mexico, each emergency rule or
	194	+	order:
187	195		(1) shall specify, by line of insurance:
188	196		(a) the geographic area in which the
189	197		order applies; and
190		-	(b) the dates on which the order
191		-	~~becomes~~ effective and terminates; and
	198	+	(b) the dates on which the order becomes
	199	+	effective and terminates; and
192	200		(2) shall not:
193	201		(a) apply retroactively;
194	202		(b) apply outside the geographic area
195	203		designated in the governor's order; or
196	204		(c) extend beyond the end date of the
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197	233		governor's order."
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