{"data":{"id":"us-nm/59a-38-5","jurisdiction":"us-nm","citation":"59A-38-5","heading":"Surplus required.","body":"The superintendent shall not issue or continue a certificate of authority as to a Lloyds Plan underwriters under this article unless it has initially and thereafter maintained a surplus, over all liabilities, of admitted assets in amount of not less than fifty thousand dollars ($50,000). The initial such surplus as contributed to the attorney-in-fact shall consist of cash or of securities approved by the superintendent, and shall include the amount of cash, securities, or surety bond deposited pursuant to Section 647 [59A-38-4 NMSA 1978] of this article.","path":["Chapter 59A - Insurance Code","ARTICLE 38 Lloyds Plan Automobile 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":"16945a415411adef78b0b1451915d46173b05c263e5b6bd55b40a515abbe5931","source_id":"us-nm","stale":false,"prev":"us-nm/59a-38-4","next":"us-nm/59a-38-6"},"notice":"GroundRules: Original legal text. Not legal advice."}