{"data":{"id":"us-nm/59a-5a-8","jurisdiction":"us-nm","citation":"59A-5A-8","heading":"Challenge hearings.","body":"Any insurer or health organization has the right to a confidential administrative hearing of record in accordance with Chapter 59A, Article 4 NMSA 1978 at which the insurer or health organization may challenge any determination or action by the superintendent pursuant to the Risk-Based Capital Act.\nA. The insurer or health organization shall file and serve on the superintendent its request for hearing within five days after any of the following events:\n(1) the superintendent's notification to the insurer or health organization of an adjusted risk-based capital report;\n(2) the superintendent's notification to the insurer or health organization that:\n(a) the insurer's or health organization's risk-based capital plan or revised risk-based capital plan is unsatisfactory; and\n(b) such notification constitutes a regulatory action level event with respect to the insurer or health organization;\n(3) the superintendent's notification to the insurer or health organization that the insurer or health organization has failed to adhere to its risk-based capital plan or revised risk-based capital plan and that such failure has had or will have a substantial adverse effect on the ability of the insurer or health organization to eliminate the company action level event; or\n(4) the superintendent's notification to an insurer or health organization of a corrective order with respect to the insurer or health organization.\nB. Upon receipt of the insurer's or health organization's request for hearing, the superintendent shall set a hearing date, which shall be not less than ten nor more than thirty days after the date of the insurer's or health organization's request.","path":["Chapter 59A - Insurance Code","ARTICLE 5A Risk-Based Capital"],"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":"b15411b1b7cf538c21f27719342387003768809ed4c9a101243f8c8c1ab98c47","source_id":"us-nm","stale":false,"prev":"us-nm/59a-5a-7","next":"us-nm/59a-5a-9"},"notice":"GroundRules: Original legal text. Not legal advice."}