Section 15-7-5 - Powers and duties of the advisory board. - New Mexico Statutes

15-7-5. Powers and duties of the advisory board.

The advisory board shall review:   

A.     specifications for all insurance policies to be purchased by the risk management division including specifications setting forth minimum capital and surplus requirements for any insurance company submitting a bid;   

B.     all professional service and consulting contracts or agreements to be entered into by the risk management division;   

C.     if insurance is to be purchased by negotiation, the companies and agents to be selected to submit proposals;   

D.     all rules and regulations to be promulgated by the risk management division;   

E.     the form, purpose and content of certificates of coverage to be issued by the risk management division; and   

F.     investments to be made by the risk management division.