The purpose of this article is to provide a mechanism for payment of covered claims under certain insurance policies to avoid excessive delay in payment and financial loss to claimants or policyholders because of insolvency of an insurer, to assist in detection and prevention of insurer insolvencies and provide an association to assess the cost of such protection among insurers. History: Laws 1984, ch. 127, § 768. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 6 Am. Jur. 2d Associations and Clubs § 2. 7 C.J.S. Associations § 1.
New Mexico Legal Code