N.M. Admin. Code § 13.3.4.2 - SCOPE
This rule is applicable to each domestic stock insurer which
has any class of equity security held of record by 300 or more persons, or any
director, officer or employee of such insurer, or any other person; provided,
however, that this rule shall not apply to any insurer if ninety-five percent
(95%) or more of its equity securities is owned or controlled by a parent or an
affiliated insurer and the remaining securities are held of record by less than
500 persons. A domestic stock insurer which files with the securities and
exchange commission with respect to any class of securities forms of proxies,
consents and authorizations complying with the requirements of the Securities
Exchange Act of 1934, as amended, and the applicable regulations promulgated
thereunder, shall be exempt from the provisions of this rule with respect to
such class of securities. This rule does not apply to the extent its provisions
are preempted by the Capital Markets Efficiency Act of 1996,
P.L.
Notes
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