{"data":{"id":"us-nm/59a-32-5","jurisdiction":"us-nm","citation":"59A-32-5","heading":"Requirements of assigned risk plans.","body":"Any such agreement or plan for the assignment of risks involving automobile and motor vehicle bodily injury and property damage liability insurance shall include provision for: reasonable rules governing the equitable distribution of risks by direct insurance, reinsurance or otherwise, and by the assignment of risks to insurers participating in the plan; rates and reasonable rate modifications which shall be applicable to such risks and which shall not be excessive, inadequate or unfairly discriminatory; the limits of liability which any insurer to whom a risk is assigned shall be required to assume; and a method whereby applicants for insurance, persons insured and insurers under the plan may have a hearing on grievances and the right to appeal from the decision on any such grievance to the superintendent.","path":["Chapter 59A - Insurance Code","ARTICLE 32 Motor Vehicle 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":"515d6dad1c23abd6466f6320ec60fb80ee32cde24ed0ddc1f910f99c5005e8a3","source_id":"us-nm","stale":false,"prev":"us-nm/59a-32-4","next":"us-nm/59a-32-6"},"notice":"GroundRules: Original legal text. Not legal advice."}