In determining the financial condition of a reciprocal insurer the superintendent shall apply the following rules: A. he shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis; B. the surplus deposits of subscribers shall be allowed as assets except that any premium deposits delinquent for ninety (90) days shall first be charged against such surplus deposit; C. the surplus deposits of subscribers shall not be charged as a liability; D. all premium deposits delinquent less than ninety (90) days shall be allowed as assets; E. an assessment levied upon subscribers, and not collected, shall not be allowed as an asset; F. the contingent liability of subscribers shall not be allowed as an asset; and G. the computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney. History: Laws 1984, ch. 127, § 672.
New Mexico Legal Code