New Mexico § 52-6-12 - Financial statements; other reports
Full text of New Mexico New Mexico Statutes Annotated § 52-6-12 — Financial statements; other reports, with citation guidance and answers to common questions.
§ 52-6-12. Financial statements; other reports
A. Each group shall submit to the director a statement of financial condition audited
by an independent certified public accountant on or before the last day of the sixth
month following the end of the group's fiscal year. The financial statement shall be on a form prescribed by the director and shall
include actuarially appropriate reserves for: (1) known claims and associated expenses; (2) claims incurred but not reported and associated expenses; (3) unearned premiums; and (4) bad debts, which reserves shall be shown as liabilities. An actuarial opinion regarding reserves for: (a) known claims and associated expenses; and (b) claims incurred but not reported and associated expenses shall be included in
the audited financial statement. The actuarial opinion shall be given by a member of the American academy of actuaries
or other qualified loss reserve specialist as defined in the annual statement adopted
by the national association of insurance commissioners. B. The director may prescribe the format and frequency of other reports, which may
include payroll audit reports, summary loss reports and quarterly financial statements.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 52-6-12
What does New Mexico Statutes Annotated § 52-6-12 cover?
Section 52-6-12 ("Financial statements; other reports") 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 § 52-6-12?
A common citation format is "New Mexico Statutes Annotated § 52-6-12" (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 § 52-6-12 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.