{"data":{"id":"us-nm/59a-21-25","jurisdiction":"us-nm","citation":"59A-21-25","heading":"Coverage under group policy issued in another state.","body":"A. No group life insurance coverage shall be offered in this state by an insurer under a policy issued in another state if the superintendent, or the appropriate insurance supervisory public official of another state, has determined that:\n(1) issuance of the group policy was contrary to the best interests of the public;\n(2) issuance of the group policy was not actuarially sound;\n(3) issuance of the group policy did not result in economies of acquisition and administration; or\n(4) benefits provided under the group policy are not reasonable in relation to the premiums charged.\nB. Upon the superintendent's request the insurer shall promptly furnish to the superintendent a copy of any such group policy and of the certificate of insurance to be issued thereunder.","path":["Chapter 59A - Insurance Code","ARTICLE 21 Group Life Insurance"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18562/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"cdd501a58392f270149a3c80d1deb2af5d8cc0bfb7970639c6d35ee8e5b4998c","source_id":"us-nm","stale":false,"prev":"us-nm/59a-21-24","next":"us-nm/59a-21-26"},"notice":"GroundRules: Original legal text. Not legal advice."}