In addition to any applicable suspension, revocation or refusal to continue any certificate of authority or license under the Insurance Code, a penalty for violation of any provision of this article may be imposed by the superintendent in accordance with Section 59A-1-18 NMSA 1978. History: 1978 Comp., § 59A-16-29, enacted by Laws 1991, ch. 111, § 13. ANNOTATIONSRepeals and reenactments. — Laws 1991, ch. 111, § 13 repealed former 59A-16-29 NMSA 1978, as enacted by Laws 1984, ch. 127, § 296, relating to penalties, and enacted a new section, effective July 1, 1991. Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 59. Value of insured's assets as limitation, in action by insured or insured's assignee for liability insurer's wrongful failure to defend, on recovery of amount of judgment against insured in excess of policy amount, 36 A.L.R.4th 922. 44 C.J.S. Insurance §§ 96, 97.
New Mexico Legal Code