The bill amends Section 59A-2-8 of the New Mexico Insurance Code to grant the Superintendent of Insurance the authority to issue civil investigative subpoenas. This new power allows the Superintendent to compel compliance during investigations of potential violations of the Insurance Code. Specifically, the Superintendent can issue a civil investigative subpoena before a notice of contemplated action is issued, and this authority can be delegated to staff. Additionally, if a person fails to comply with a subpoena without lawful excuse, the enforcing authority can seek a court order to compel compliance.

The bill also outlines the procedures for the issuance of these subpoenas and the enforcement of compliance, enhancing the Superintendent's ability to conduct thorough investigations. This legislative change aims to strengthen the oversight and enforcement capabilities of the Office of Superintendent of Insurance, ensuring better adherence to the provisions of the Insurance Code and improving the overall regulatory framework for insurance matters in New Mexico.

Statutes affected:
introduced version: 59A-2-8