The par value of each capital stock insurer organized under the laws of the state of New Mexico shall be stated in the articles of incorporation and shall be not less than five dollars ($5.00) per share.

[12/1/85; Recompiled 11/30/01]

HISTORY OF 13.3.5 NMAC:

Pre-NMAC History: The subject matter of this rule was previously filed with the State Records Center as:

SCC 85-17, Insurance Department Regulation 35-1, Regulation Regarding Registration of Insurance Securities, filed 11/5/85.

History of Repealed Material: [RESERVED]