New Mexico § 52-6-17 - Rates; reporting
Full text of New Mexico New Mexico Statutes Annotated § 52-6-17 — Rates; reporting, with citation guidance and answers to common questions.
§ 52-6-17. Rates; reporting
A. Every group shall adhere to the uniform classification system, uniform experience-rating
plan and manual rules filed with the superintendent by an advisory organization designated
by the director. B. Premium contributions to the group shall be determined by applying the manual rates
and rules to the appropriate classification of each member, which shall be adjusted
by each member's experience credit or debit. Subject to approval by the director, premium contributions may also be reduced by
an advance premium discount reflecting the group's expense levels and loss experience. C. Notwithstanding Subsection B of this section, a group may apply to the director
for permission to make its own rates. Such rates shall be based on at least three years of the group's experience. D. Each group shall be audited at least annually by an auditor acceptable to the director
to verify proper classifications, experience rating, payroll and rates. A report of the audit shall be filed with the director in a form acceptable to him. A group or any member thereof may request a hearing on any objections to the classifications. If the director determines that, as a result of an improper classification, a member's
premium contribution is insufficient, he shall order the group to assess that member
an amount equal to the deficiency. If the director determines that, as a result of an improper classification, a member's
premium is excessive, he shall order the group to refund to the member the excess
collected. The audit shall be at the expense of the group.
Frequently Asked Questions About New Mexico § 52-6-17
What does New Mexico Statutes Annotated § 52-6-17 cover?
Section 52-6-17 ("Rates; reporting") 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 § 52-6-17?
A common citation format is "New Mexico Statutes Annotated § 52-6-17" (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 § 52-6-17 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.