# N.M. Stat. § 59A-42-2: Purpose

> New Mexico · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-2

## Section

- **Citation:** N.M. Stat. § 59A-42-2
- **Heading:** Purpose
- **Jurisdiction:** New Mexico
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NM Code / Chapter 59A / Article 42 / Section 59A-42-2

## Text

The purpose of the Life and Health Insurance Guaranty Association Act is to provide a mechanism to facilitate continuation of coverage and the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and avoid financial loss to claimants or policyholders because of insolvency of an insurer, to assist in detection and prevention of insurer insolvencies and to provide an association to assess the cost of such protection among insurers.

## Nearby sections

- [N.M. Stat. § 59A-42-1 § 59A-42-1. Short title](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-1.md)
- [N.M. Stat. § 59A-42-2 § 59A-42-2. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-2.md)
- [N.M. Stat. § 59A-42-3 § 59A-42-3. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-3.md)
- [N.M. Stat. § 59A-42-4 § 59A-42-4. Coverage; limitations](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-4.md)
- [N.M. Stat. § 59A-42-5 § 59A-42-5. Organization of association; participation](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-5.md)
- [N.M. Stat. § 59A-42-6 § 59A-42-6. Board of directors](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-6.md)
- [N.M. Stat. § 59A-42-7 § 59A-42-7. Powers and duties of the association](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-7.md)
- [N.M. Stat. § 59A-42-8 § 59A-42-8. Assessments](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-8.md)
- [N.M. Stat. § 59A-42-9 § 59A-42-9. Plan of operation](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-9.md)
- [N.M. Stat. § 59A-42-10 § 59A-42-10. Duties and powers of the superintendent](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-10.md)
- [N.M. Stat. § 59A-42-11 § 59A-42-11. Prevention of insolvencies](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-11.md)
- [N.M. Stat. § 59A-42-12 § 59A-42-12. Appeals](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-12.md)
- [N.M. Stat. § 59A-42-13 § 59A-42-13. Miscellaneous provisions](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-13.md)
- [N.M. Stat. § 59A-42-14 § 59A-42-14. Examination of association; annual report](https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-14.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NM_C59A_A42_S59A-42-2. Check the current official text before relying on it. Not legal advice.