In addition to organizations and businesses otherwise exempt, the Insurance Code shall not apply to:

1. A. a labor organization that, incidental only to operations as a labor organization, issues benefit certificates to members or maintains funds to assist members and their families in times of illness, injury or need, and is not for profit;
2. B. the credit union share insurance corporation, as identified in Chapter 58, Article 12 NMSA 1978, and similar corporations and funds for protection of depositors, shareholders or creditors of financial institutions and businesses other than insurers; or
3. C. the risk management division of the general services department, the public school insurance authority, the retiree health care authority and any public school district or to insurance of public property or public risks by any agency of government not otherwise engaged in the business of insurance, except the provisions of the Patient Protection Act [Chapter 59A, Article 57 NMSA 1978] and Sections 59A-2-9.2 and 59A-23E-18 NMSA 1978 shall apply to any entity required or authorized to purchase health care benefits pursuant to the Health Care Purchasing Act [Chapter 13, Article 7 NMSA 1978].

History: Laws 1984, ch. 127, § 16; 1998, ch. 107, § 12; 2001, ch. 351, § 4.

ANNOTATIONS

Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.

The 2001 amendment, effective June 15, 2001, in Subsection C, inserted "the public school insurance authority, the retiree health care authority and any public school district", inserted "and Sections 59A-2-9.2 and 59A-23E-18 NMSA 1978" and substituted "any entity required or authorized to purchase health care benefits pursuant to the Health Care Purchasing Act" for "the risk management division and any managed health care plan it offers".

The 1998 amendment, effective July 1, 1998, deleted "as" following "apply" in the introductory language; substituted "that" for "which" near the beginning of Subsection A; in Subsection B, substituted "Chapter 58, Article 12" for "Article 58-12"; in Subsection C, inserted "general services" following "division of the", deleted "of finance and administration of New Mexico" following "department" and "as" following "or", and added the exception to the end of the subsection.