A reverse competitive market for a line, kind or class of insurance is presumed to exist wherever the placement of a line, kind or class of insurance with insurers is determined primarily or exclusively by parties other than the policyholders. The superintendent may, by notice and hearing, establish rules for determining the specific lines, kinds or classes of insurance that, for the purposes of the Insurance Rate Regulation Law, are reversely competitive. History: Laws 2007, ch. 367, § 5. ANNOTATIONSEffective dates. — Laws 2007, ch. 367, § 39 made this section effective July 1, 2007.
New Mexico Legal Code