{"data":{"id":"us-nm/59a-48-7","jurisdiction":"us-nm","citation":"59A-48-7","heading":"Reserve requirement; exception.","body":"A. A prepaid dental plan organization at all times shall maintain for protection of the members a financial reserve consisting of two percent of prepaid charges collected from members for the plan, until such reserve totals five hundred thousand dollars ($500,000). Such reserve shall be in addition to the deposit prescribed by Section 885 [59A-48-6 NMSA 1978] of this article.\nB. The reserve prescribed by Subsection A of this section shall not apply with respect to a prepaid dental plan organization which is funded by the federal, state or a municipal government or any political subdivision or body and meets the requirement of Subsection F of Section 885 of this article.","path":["Chapter 59A - Insurance Code","ARTICLE 48 Prepaid Dental Plans"],"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":"bc88dc148e1035e0b6fa9871e5e0e4a2bcee1154cbe1645fed3ac3816d88cff2","source_id":"us-nm","stale":false,"prev":"us-nm/59a-48-6","next":"us-nm/59a-48-8"},"notice":"GroundRules: Original legal text. Not legal advice."}