SB 124
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AN ACT
RELATING TO THE OFFICE OF SUPERINTENDENT OF INSURANCE;
PROVIDING THE POWER TO ISSUE A CIVIL INVESTIGATIVE SUBPOENA
TO THE SUPERINTENDENT OF INSURANCE; PROVIDING PROCEDURES TO
COMPEL COMPLIANCE WITH SUCH A SUBPOENA.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 59A-2-8 NMSA 1978 (being Laws 1984,
Chapter 127, Section 26, as amended) is amended to read:
"59A-2-8. GENERAL POWERS AND DUTIES OF
SUPERINTENDENT.--
A. The superintendent shall:
(1) organize and manage the office of
superintendent of insurance and direct and supervise all its
activities;
(2) execute the duties imposed upon the
superintendent by the Insurance Code;
(3) enforce those provisions of the
Insurance Code that are administered by the superintendent;
(4) have the powers and authority expressly
conferred by or reasonably implied from the provisions of the
Insurance Code;
(5) conduct such examinations and
investigations of insurance matters, in addition to those
expressly authorized, as the superintendent may deem proper SB 124
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upon reasonable and probable cause to determine whether a
person has violated a provision of the Insurance Code or to
secure information useful in the lawful enforcement or
administration of the provision; provided that:
(a) when examining or investigating
such insurance matters, the superintendent may issue a civil
investigative subpoena prior to the issuance of a notice of
contemplated action; and
(b) upon failure of a person without
lawful excuse to obey a subpoena and upon reasonable notice
to all persons affected, the enforcing authority may apply to
the district court for an order compelling compliance;
(6) have the power to sue or be sued;
(7) have the power to make, enter into and
enforce all contracts, agreements and other instruments
necessary, convenient or desirable in the exercise of the
superintendent's powers and functions and for the purposes of
the Insurance Code;
(8) prepare an annual budget for the office
of superintendent of insurance;
(9) have the right to require performance
bonds of employees as the superintendent deems necessary
pursuant to the Surety Bond Act. The office of
superintendent of insurance shall pay the cost of required
bonds; SB 124
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(10) comply with the provisions of the
Administrative Procedures Act;
(11) upon an order based upon the invocation
of a state of emergency under the All Hazard Emergency
Management Act or the Public Health Emergency Response Act by
the governor, take those actions necessary to ensure access
to insurance and the stability of insurance markets during
the emergency. Such actions may include issuing emergency
rules or orders to address any or all of the following
matters related to insurance policies issued in New Mexico:
(a) grace periods for payment of
insurance premiums and performance of other duties by
insureds;
(b) refund of premiums;
(c) waiver of cost sharing or
deductibles;
(d) temporary postponement of
cancellations and nonrenewals;
(e) reporting requirements for claims;
and
(f) suspension of compliance with a
statute, rule or contract, if strict compliance would
prevent, hinder or delay necessary action in response to the
emergency; and
(12) have such additional powers and duties SB 124
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as may be provided by other laws of this state.
B. If a state of emergency under the All Hazard
Emergency Management Act or the Public Health Emergency
Response Act is invoked by the governor, and the
superintendent issues emergency rules or orders to address
matters related to insurance policies issued in New Mexico,
each emergency rule or order:
(1) shall specify, by line of insurance:
(a) the geographic area in which the
order applies; and
(b) the dates on which the order
becomes effective and terminates; and
(2) shall not:
(a) apply retroactively;
(b) apply outside the geographic area
designated in the governor's order; or
(c) extend beyond the end date of the
governor's order."