{"data":{"id":"us-nm/59a-45-5","jurisdiction":"us-nm","citation":"59A-45-5","heading":"Exemptions.","body":"A. The provisions of this article shall not limit the authority of the following institutions to engage in insurance premium financing or apply to:\n(1) any life insurer authorized to do business in the state;\n(2) any national banking institution;\n(3) any state bank;\n(4) any savings and loan association;\n(5) any small loan company; or\n(6) any credit union.\nB. The licensing and bonding provisions of this article shall not apply to:\n(1) any insurer, other than those exempt from this article pursuant to Paragraph A(1); and\n(2) any insurance agent licensed by this state.\nC. This article shall not apply to the financing of insurance premiums in connection with a transaction under the Motor Vehicle Sales Finance Act [58-19-1 to 58-19-12 NMSA 1978], or under Sections 56-1-1 to 56-1-15 NMSA 1978.","path":["Chapter 59A - Insurance Code","ARTICLE 45 Premium Financing"],"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":"cb85fc12711b79b47050ef03cdafca5e0ca3bf8c0dda97220d3acbd44de18072","source_id":"us-nm","stale":false,"prev":"us-nm/59a-45-4","next":"us-nm/59a-45-6"},"notice":"GroundRules: Original legal text. Not legal advice."}