N.M. Admin. Code § 18.3.3.9 - PENALTIES FOR CANCELED OR INSUFFICIENT COVERAGE

Insurance companies are required to timely submit all uniform filing forms to the department directly. Copies of coverage submitted by the motor carrier will not serve as proof of coverage. Anyone aggrieved by the action or omission of an insurance company related to these required filings may file a consumer complaint with the office of superintendent of insurance (www.osi.state.nm.us).

A. Immediate suspension: A motor carrier's operating authority is subject to immediate suspension for lack of financial responsibility if, for any reason, its current coverage is not on file with the department or does not meet the minimum requirements.

B. Warrant revocation: A warrant holder's operating authority is subject to immediate revocation if, for any reason, its coverage is not on file with the department for a period of four consecutive months.

Notes

N.M. Admin. Code § 18.3.3.9

18.3.3.9 NMAC - N, 12-30-02; A, 1-1-05, Amended by New Mexico Register, Volume XXVI, Issue 03 February 13, 2015, eff. 2/13/2015, Adopted by New Mexico Register, Volume XXXV, Issue 12, June 25, 2024, eff. 7/1/2024