SB 124 New Mexico Senate · 2025 Regular Session

SUPERINTENDENT OF INSURANCE SUBPOENAS

SB 124 amends New Mexico's Insurance Code to grant the Superintendent of Insurance the explicit authority to issue civil investigative subpoenas during examinations or investigations of potential insurance code violations. This change allows the Superintendent (or designated staff) to compel testimony or document production from individuals or entities under investigation, without first issuing a notice of contemplated action. The bill also clarifies that failure to comply with such a subpoena can be enforced through a court order in district court. This directly affects insurance companies, agents, and other entities subject to the Superintendent's oversight during regulatory investigations.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

Senate Passage

Feb 2025

House Passage

Mar 2025

Signed into Law

Apr 2025

Introduced Jan 23, 2025 Signed Apr 11, 2025

Maddy AI version diff · 1 comparison

What changed between versions

introduced version → Final Version · 5 edits

MODERATE

This bill amends the Superintendent of Insurance's general powers and duties, adding authority to issue civil investigative subpoenas before formal action and expanding emergency powers during state emergencies. It also clarifies how emergency rules must be structured and limits their application to prevent retroactive or overly broad enforcement.

Scope change

The bill expands the Superintendent's investigative authority and refines emergency rule-making procedures, making enforcement more proactive and structured during crises.

ENFORCEMENT

Added authority for the Superintendent to issue civil investigative subpoenas before taking formal action, allowing earlier investigation of potential Insurance Code violations.

Added power to apply to district court for orders compelling compliance when subpoenas are ignored, strengthening enforcement mechanisms.

REQUIREMENT

Added specific requirements for emergency rules, including geographic scope, effective dates, and prohibitions on retroactive application.

Expanded emergency powers to include temporary postponement of cancellations, nonrenewals, and compliance with statutes, rules, or contracts during emergencies.

Added authority to require performance bonds from employees, increasing financial accountability within the office.

Floor votes · Senate Feb 12, 2025 · House Mar 19, 2025

How they voted

37–0

Passed · 3 other

Total votes 40

Feb 12, 2025

D Democratic24

23 Yea 1

95% Yea

R Republican16

14 Yea 2

87% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 11, 2025

Signed into law

Signed

executive

Mar 19, 2025

Lower · Passed

passed House

lower

Mar 15, 2025

Lower · Passed

DO PASS committee report adopted

lower

Mar 3, 2025

Lower · Passed

DO PASS committee report adopted

lower

Feb 21, 2025

Introduced

Sent to House Government, Elections and Indian Affairs Committee & House Judiciary Committee

lower

Feb 12, 2025

Upper · Passed

passed Senate

upper

Feb 6, 2025

Upper · Passed

DO PASS committee report adopted

upper

Jan 31, 2025

Upper · Passed

DO PASS, as amended, committee report adopted

upper

Jan 23, 2025

Introduced

Sent to Senate Rules Committee & Senate Judiciary Committee

upper

2 primary · 0 co-sponsors