New Mexico 2023 Regular Session Status: Enacted 1 D cosponsors

HB 229 — INSURANCE ADJUSTER BOND EXCLUSION

Last action — Signed

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 30, 2023. Enacted.

Signed by Governor Michelle Lujan Grisham (Democratic) on April 05, 2023.

Prognosis

Advancing 52% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

27 added · 70 removed

Plain-language change summary

The amended bill HB 229 has changed the bonding requirements for certain public adjusters in New Mexico. It now specifies that only those applying for a public adjuster license must file a surety bond, excluding "staff adjusters" from this requirement. This matters because it eases the financial burden on staff adjusters, potentially making it easier for them to operate while maintaining the necessary accountability for public adjusters who handle claims directly with the public.

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HOUSE BILL 229 56TH LEGISLATURE -STATEOFNEWMEXICO- FIRST SESSION, 2023 INTRODUCED BY Tara L.
AN ACT RELATING TO INSURANCE;
Lujan 6 8 10 AN ACT RELATING TO INSURANCE;
14 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
e t 17 "59A-13-5.
"59A-13-5.
BOND.-- w l n d 18 A.
BOND.-- A.
With application for license as [an] a public = = 19 a l adjuster, [other than as staff adjuster] the applicant shall i a e r 20 file with the superintendent a surety bond in favor of the a t m m 21 superintendent in aggregate amount of not less than ten d r e 22 thousand dollars ($10,000), conditioned to pay actual damages c e s k 23 resulting to the state of New Mexico or any member of the e a n b 24 public in New Mexico from violation of law by the licensee u [ while acting as an adjuster.
With application for license as a public adjuster, the applicant shall file with the superintendent a surety bond in favor of the superintendent in aggregate amount of not less than ten thousand dollars ($10,000), conditioned to pay actual damages resulting to the state of New Mexico or any member of the public in New Mexico from violation of law by the licensee while acting as an adjuster.
The bond shall be one executed by .224113.2 an authorized surety insurer.
The bond shall be one executed by an authorized surety insurer.
Without prejudice to any liability accrued prior to cancellation, the surety may cancel a bond by giving written notice to the superintendent at least thirty days prior to effective date of cancellation.
Without prejudice to any liability accrued prior to cancellation, the surety may cancel a bond by giving written notice to the superintendent at least thirty days prior to effective date of cancellation." HB 229 Page 1
[C.
The applicant or licensee may file with the superintendent a cash bond in like amount, in lieu of surety bond.]" - 2 - 14 16 e t 17 w l n d 18 = = 19 a l i a e r 20 a t m m 21 d r e 22 c e s k 23 e a n b 24 u [ .224113.2
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Action History

  1. Signed

  2. passed Senate

  3. DO PASS committee report adopted

  4. Sent to Senate Tax, Business and Transportation Committee

  5. passed House

  6. DO PASS committee report adopted

  7. DO PASS committee report adopted

  8. Sent to House Commerce & Economic Development Committee & House Judiciary Committee

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

Show all 111 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 229?
HB 229 is sponsored by Tara L. Lujan (Democrat).
What is the current status of HB 229?
This bill has been enacted into law. Introduced January 30, 2023. Enacted.
Where can I track HB 229?
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