February 28, 2001

Mr. President:

Your JUDICIARY COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 1, line 13, before the period insert "; PROHIBITING THE CANCELLATION OF MOTOR VEHICLE INSURANCE ON THE BASIS OF INFORMATION FROM CREDIT REPORTS".

2. On page 2, line 5, after "insurance" insert "or self- insurance".

3. On page 2, line 7, strike "or" and insert in lieu thereof "vehicle, temporary substitute vehicle, promotional courtesy vehicle or a".

4. On page 2, line 17, after "insurance" insert "or self-insurance coverage".

5. On page 2, line 20, after "insurers" insert "and self-insurers".

6. On page 2, between lines 22 and 23, insert the following new section:

"Section 2. A new section of Chapter 59A, Article 32 NMSA 1978 is enacted to read:

["NEW MATERIAL] PROHIBITION AGAINST CANCELING MOTOR VEHICLE INSURANCE BASED ON CREDIT REPORT.--An insurer shall not cancel a motor vehicle insurance policy based upon the receipt of an unsatisfactory credit report on the insured if the policy is in good standing and payment of premiums is current.".

Respectfully submitted,

__________________________________

Michael S. Sanchez, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 9 For 0 Against

Yes: 9

No: 0

Excused: Lopez

Absent: None

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