State statute · New Mexico

Trade Practices and Frauds (59A-16-1 to 59A-16-30)

NMSA 1978 Chapter 59A, Article 16

Publisher: New Mexico Compilation Commission
Edition: 2025 New Mexico Statutes
Last checked: 2026-09-10
Status: US state statute

Edition and licensing notes

Publisher. New Mexico Compilation Commission (nmonesource.com)

Status. US state statute; public domain.

Read the official text Practice questions from this source

What this document is

NMSA 1978 Chapter 59A, Article 16 - Trade Practices and Frauds (59A-16-1 to 59A-16-30) is a state statute published by New Mexico Compilation Commission (nmonesource.com). It is one of the New Mexico documents that insurance license exam questions are written from, including new mexico life & health, new mexico property & casualty, new mexico personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

NMSA 1978, § 59A-16-8(D) (Advertising insurer capital or assets)
“No person shall advertise the capital or assets of an insurer without the same advertisement setting forth the amount of the insurer's liabilities.”
NMSA 1978, § 59A-16-20(F) (Catastrophic claims settlement period)
“F. failing to settle all catastrophic claims within a ninety-day period after the assignment of a catastrophic claim number when a catastrophic loss has been declared;”
NMSA 1978, § 59A-16-10 (Defamation; penalty)
“No person shall make, publish, disseminate or circulate, directly or indirectly, or aid, abet, counsel, procure or encourage the making, publishing, disseminating, transmission or circulation to another, of any oral or written statement or any pamphlet, circular, article or literature which is...”
NMSA 1978, § 59A-16-20(J) (Disclosure of coverage after payment)
“J. failing, after payment of a claim, to inform insureds or beneficiaries, upon request by them, of the coverage under which payment has been made;”
NMSA 1978, § 59A-16-4 (Misrepresentation, false advertising of policies)
“No person shall make, publish, issue or circulate any estimate, illustration, circular, statement, sales presentation or comparison which: A. misrepresents the benefits, advantages, conditions or terms of any policy; B. misrepresents the premium overcharge commonly called dividends or share of the...”
NMSA 1978, § 59A-16-8(A) (Falsification of insurer records)
“No person shall make or cause to be made any false entry in any book, report or statement of any insurer with intent to injure or defraud the insurer or any other person, or to deceive any officer of the insurer, or the superintendent or any examiner appointed to examine the affairs of the insurer....”
NMSA 1978, § 59A-16-20 (Unfair claims practices, general business practice threshold)
“Any of the following practices with respect to claims, by an insurer or other person, knowingly committed or performed with such frequency as to indicate a general business practice are defined as unfair and deceptive practices and are prohibited:”
NMSA 1978, § 59A-16-11 (Unfair Discrimination Prohibited; Life and Health Insurance)
“No insurer or person shall make or permit any unfair discrimination: A. between individuals of the same class and equal expectation of life in rates charged for any contract of life insurance or of life annuity, or in dividends or other benefits payable thereon, or in any other of the terms and...”
NMSA 1978, § 59A-16-14(A) (Coercion of Business Prohibited - Notice Required)
“The lender is required to inform the buyer of the buyer's rights regarding the placing of insurance on a form prescribed by the superintendent. The buyer must signify that the buyer has been so informed.”
NMSA 1978, § 59A-16-7 (Replacement of life insurance)
“In addition to other powers of the superintendent in respect thereto, the superintendent shall by regulation require persons who replace or offer or propose to replace existing life insurance with other life insurance, to disclose to the policyholder all information the superintendent deems...”
NMSA 1978, § 59A-16-14(G) (Coercion of Business Prohibited - Charges)
“No person engaged in selling real or personal property or in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property shall charge, either directly or indirectly to a borrower or debtor a consideration of any kind to...”
NMSA 1978, § 59A-16-16(A)(1) (Exceptions to Discrimination and Rebate Provisions)
“Nothing in Section 59A-16-11 or 59A-16-15 NMSA 1978 shall be construed as including within the definition of discrimination or rebates any of the following practices: (1) in the case of any contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their...”

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Questions about this source

NMSA 1978 Chapter 59A, Article 16 - Trade Practices and Frauds (59A-16-1 to 59A-16-30) is a state statute published by New Mexico Compilation Commission (nmonesource.com). Edition: 2025 New Mexico Statutes.

No. This page summarizes the document and links to the official version. Always rely on the text published by New Mexico Compilation Commission (nmonesource.com) for the current law.

Practice questions for New Mexico Life & Health, New Mexico Property & Casualty, New Mexico Personal Lines cite this document.

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