An insurer which otherwise qualifies therefor shall be authorized to transact any one kind or combination of kinds of insurance as defined in Sections 107 through 115 [59A-7-1 to 59A-7-9 NMSA 1978] (kinds of insurance) of the Insurance Code, except:

1. A. a life insurer may grant annuities and may be authorized to transact in addition only health insurance;
2. B. a reciprocal insurer or Lloyds insurer shall not transact life insurance; and
3. C. a title insurer shall be a stock or mutual corporation, and shall not transact any additional kind of insurance.

History: Laws 1984, ch. 127, § 82.

ANNOTATIONS

Compiler’s notes. — Laws 2016, ch. 89, § 70 repealed Sections 59A-7-5, 59A-7-8 and 59A-7-9 NMSA 1978, effective July 1, 2017. For provisions of former sections, see the 2016 NMSA 1978 on NMOneSource.com.