STATUTORY AUTHORITY

1.6.2.3 STATUTORY AUTHORITY: This rule is adopted pursuant to: A. Section 15-7-2 NMSA 1978 which, among other things, requires the risk management division to apportion state agencies’ contributions for insurance and self-insurance coverage; B. Section 15-7-3 NMSA 1978 which, among other things, authorizes the risk management division to adopt regulations prescribing the rating basis, assessments and penalties applicable to the public liability fund, the workers’ compensation retention fund and the public property reserve fund; C. Section 41-4-25 NMSA 1978 which, among other things, authorizes the risk management division to assess a penalty to local public bodies for failure to make timely payment; and D. Section 41-4-28 NMSA 1978 which, among other things, requires the director to determine the amount to be assessed by each local public body for foreign jurisdiction liability coverage. [6/14/1997; 1.6.2.3 NMAC - Rn, 1 NMAC 6.2.3; 9/15/2004]