New Mexico § 45-5B-210 - Insurance and annuities
Full text of New Mexico New Mexico Statutes Annotated § 45-5B-210 — Insurance and annuities, with citation guidance and answers to common questions.
§ 45-5B-210. Insurance and annuities
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to insurance and annuities authorizes the agent to: A. continue, pay the premium or make a contribution on, modify, exchange, rescind,
release or terminate a contract procured by or on behalf of the principal that insures
or provides an annuity to either the principal or another person, whether or not the
principal is a beneficiary under the contract; B. procure new, different and additional contracts of insurance and annuities for
the principal and the principal's spouse, children and other dependents and select
the amount, type of insurance or annuity and mode of payment; C. pay the premium or make a contribution on, modify, exchange, rescind, release or
terminate a contract of insurance or annuity procured by the agent; D. apply for and receive a loan secured by a contract of insurance or annuity; E. surrender and receive the cash surrender value on a contract of insurance or annuity; F. exercise an election; G. exercise investment powers available under a contract of insurance or annuity; H. change the manner of paying premiums on a contract of insurance or annuity; I. change or convert the type of insurance or annuity with respect to which the principal
has or claims to have authority described in this section; J. apply for and procure a benefit or assistance under a statute or regulation to
guarantee or pay premiums of a contract of insurance on the life of the principal; K. collect, sell, assign, hypothecate, borrow against or pledge the interest of the
principal in a contract of insurance or annuity; L. select the form and timing of the payment of proceeds from a contract of insurance
or annuity; and M. pay, from proceeds or otherwise, compromise or contest and apply for refunds in
connection with a tax or assessment levied by a taxing authority with respect to a
contract of insurance or annuity or its proceeds or liability accruing by reason of
the tax or assessment.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 45-5B-210
What does New Mexico Statutes Annotated § 45-5B-210 cover?
Section 45-5B-210 ("Insurance and annuities") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 45-5B-210?
A common citation format is "New Mexico Statutes Annotated § 45-5B-210" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-5B-210 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.