From and after the expiration of three years following the date of filing of any insurance policy or certificate thereof, bond or undertaking, pursuant to the provisions of Section 52-1-4 NMSA 1978, the director may, in his discretion, authorize the destruction of such insurance policies, certificates, bonds and undertakings.
HISTORY:
1953 59-10-3.1, enacted by Laws 1955, ch. 137, § 1; 1965, ch. 255, § 2; 1979, ch. 368, § 3; 1987, ch. 235, § 7.
Notes to Decisions
Compliance.
Injured employee’s common law negligence action against his employer was barred by former 59-10-6, 1953 Comp. (now 52-1-9 NMSA 1978), where the employer had substantially complied with former 59-10-3, 1953 Comp. (now 52-1-5 NMSA 1978) by filing with a district court an insurance policy that provided a plan of continuous coverage for a three-year period, and the insurer notified the employer two months before the employee was injured that the policy would be renewed for one year in compliance with that agreement, even though the actual policy that provided coverage for the ensuing year was not filed until 40 days after the employee’s injury. Mirabal v. International Minerals & Chem. Corp., 77 N.M. 576, 425 P.2d 740, 1967 N.M. LEXIS 2658 (N.M. 1967).