On Apr. 10, 2025, NM LEG reported governor approved bill, assigned Chapter 143.
On Mar. 19, NM LEG passed bill to provide power to issue subpoenas.
NM LEG passed bill SB 124 on the superintendent of insurance subpoena authority.
Provisions amended NM INS 59A-2-8 on general powers and duties of superintendent.
Background
Currently, superintendent can request data voluntarily from insurers through data calls or informal requests, but there is no mechanism to compel providers to submit data.
Addressed gap, improving agency’s ability to investigate and enforce ins regulations.
Bill Provisions
Provided authority for the superintendent of insurance to issue civil investigative subpoenas prior to issuance of a notice to show cause/notice of contemplated action.
If someone fails to comply with subpoena without valid reason and after giving notice, superintendent may go to district court to request an order compelling compliance.
Legislative History
On Jan. 23, 2025, bill was introduced in Senate; on Feb. 12, 2025, bill passed Senate.
On Feb. 21, 2025, bill was introduced in House; on Mar. 19, 2025, bill passed in House.
Effectiveness
Upon enactment, bill is effective 90 days after adjournment, on Jun. 20, 2025.
Apr. 2025 NM LEG Governor Approval
On Apr. 10, 2025, NM LEG reported governor approved bill, assigned Chapter 143.
Regulators
NM LEG
Entity Types
IB; Ins
Reference
Ch. 143, 4/10/2025; Bill SB124, 3/19/2025; Citation: NM INS 59A-2-8;
