New Mexico Register / Volume XXXIV, Issue 11 / June 13, 2023

NOTICE OF PROPOSED RULEMAKING

NOTICE IS HEREBY GIVEN that the Superintendent of Insurance (“OSI” or “Superintendent”) will hold a public hearing via videoconference regarding the 13.9.21 NMAC - TERM AND UNIVERSAL LIFE INSURANCE RESERVE FINANCING. This hearing will commence on August 1, 2023, at 10:00 a.m. MDT.

PURPOSE OF THE PROPOSED RULE: The purpose of this rule is to conform with established, uniform, national standards governing reserve financing arrangements pertaining to life insurance policies containing guaranteed nonlevel gross premiums, guaranteed nonlevel benefits and universal life insurance policies with secondary guarantees.

STATUTORY AUTHORITY: Sections 59A-2-9 and 59A-12E-17 (2022) NMSA 1978.

TO ATTEND THE HEARING:

Click here to join the meeting

Meeting ID: 221 222 820 512
Passcode: NoTMpj

Or call in (audio only)

+1 505-312-4308, 33049199#

Phone Conference ID: 330 491 99#

The Superintendent designates Tatiana Perez to act as the hearing officer for this rulemaking. Oral comments will be accepted at the public hearing from members of the public and other interested parties. Any updates concerning the hearing date, time, or location will be available by subscribing to the “Rulemaking and Ratemaking” newsletter at: http://newsletter.osi.state.nm.us/.

Copies of the Notice of Proposed Rulemaking and proposed new rules are available by electronic download from the OSI eDocket. https://edocket.osi.state.nm.us/guest/case-view/5873 or by requesting a copy by calling (505) 490-7103.Written comments will be accepted through 4:00 p.m. on August 1, 2023. Responses to written comments or oral comments will be accepted through 4:00 p.m. on August 11, 2023. All comments shall be filed electronically through the OSI eDocket https://edocket.osi.state.nm.us/guest/case-view/5873 or mailed to:

OSI Records and Docketing

NM Office of Superintendent of Insurance

P.O. Box 1689, Santa Fe, NM 87504-1689

All filings must be received between the hours of 8:00 a.m. and 4:00 p.m. Monday through Friday except on state holidays. The Superintendent will consider all oral comments and will review all timely submitted written comments and responses. For help submitting a filing, please contact osi-docketfiling@state.nm.us The below docket number must be indicated on filed comments.

Docket No. 2023-0049

IN THE MATTER OF NEW RULE CODIFIED AT 13.9.21 NMAC - TERM AND UNIVERSAL LIFE INSURANCE RESERVE FINANCING

SPECIAL NEEDS: Any person with a disability requiring special assistance to participate in the hearing should contact Louella Pacheco at (505) 490-7103 no later than ten (10) business days prior to the hearing.

DONE AND ORDERED this June 13, 2023

/S/ JENNIFER A. CATECHIS