§ 59A-41-10. “Impairment” defined
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NM Code › Chapter 59A › Article 41 › Section 59A-41-10
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“Impairment” exists as to:
A. a stock, mutual, reciprocal, or foreign Lloyds insurer, when its basic capital is less than that required to be maintained by it under Section 83 of the Insurance Code;
B. a domestic Lloyds insurer, when its surplus is less than as required under Section 83 or Article 38 of the Insurance Code;
C. a nonprofit health care plan, when its assets are in amount less than the sum of its required trust deposit, required reserves and other liabilities;
D. a prepaid dental care plan, when its assets are in amount less than the sum of its required bond or deposit in lieu thereof, its required reserves, and its other liabilities;
E. a motor club, when its assets are in amount less than the sum of its required bond or deposit in lieu thereof, its required reserves, and its other liabilities; and
F. any other corporation, when its assets are in amount less than the sum of its surplus required, if any, to be maintained, its paid-in capital stock, if any, and its other liabilities.
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