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2005 Summary of New State Laws - New Mexico

(Preliminary List of 2005 Approved/Pending Legislation)

Issue

Bill #

Bill Description

Insurance-Based Credit Scoring

SB 560

Creates the Personal Insurance Credit Information Act to regulate the use of credit history information by insurers. Signed by Governor 4/5/05. Chapter 151, Laws of 2005.

Privacy

HB 183

Prohibits the use of genetic information in nonmedical contexts. Signed by Governor 4/6/05. Chapter 204, Laws of 2005.

Structured Settlements

HB 495

Creates the Structured Settlements Protection Act. Signed by Governor 4/5/05. Chapter 135, Laws of 2005.

Tort Reform

(Consolidation of Actions and Allowance of Attorney Fees)

HB 147

Allows any number of persons claiming liens to join in the same action and allows for consolidation of separate actions. Allows prevailing party costs for filing, recording and attorney fees. Signed by Governor 4/5/05. Chapter 120, Laws of 2005.

Workers' Compensation

(Benefits, Claims and Authorized Treatments - Calculation of Benefits)

SB 114

SB 114 Recalculates the amount of temporary total disability compensation benefits for injured workers. Signed by Governor 4/5/05. Chapter 151, Laws of 2005.

(Medical Examinations)

SB 45

Provides for independent and periodic medical examinations. Signed by Governor 4/5/05. Chapter 150, Laws of 2005.

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.

New Mexico State Resource Center