{"data":{"id":"us-nm/52-6-23","jurisdiction":"us-nm","citation":"52-6-23","heading":"Revocation of certificate of approval.","body":"A. After notice and opportunity for a hearing, the director may revoke a group's certificate of approval if it:\n(1) is found to be insolvent;\n(2) fails to pay any premium tax, regulatory fee or assessment or special fund contribution imposed upon it; or\n(3) fails to comply with any of the provisions of the Group Self-Insurance Act, with any rules or regulations promulgated thereunder or with any lawful order of the director within the time prescribed.\nB. The director may revoke a group's certificate of approval if, after notice and opportunity for hearing, he finds that:\n(1) any certificate of approval that was issued to the group was obtained by fraud;\n(2) there was a material misrepresentation in the application for the certificate of approval; or\n(3) the group or its administrator has misappropriated, converted, illegally withheld or refused to pay over, upon proper demand, any money that belongs to a member, an employee of a member or a person otherwise entitled to it and that has been entrusted to the group or its administrator in its fiduciary capacities.","path":["Chapter 52 - Workers' Compensation","ARTICLE 6 Group Self-Insurance"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18555/index.do","current_through":"2026-05-20","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"e6401b024c06de8d78c12e210a1888ee477e3b1c581f07edd84e3d74da6380cd","source_id":"us-nm","stale":false,"prev":"us-nm/52-6-22","next":"us-nm/52-6-24"},"notice":"GroundRules: Original legal text. Not legal advice."}