46th legislature - STATE OF NEW MEXICO - first session, 2003

PROPOSING AN AMENDMENT TO ARTICLE 11, SECTION 2 OF THE CONSTITUTION OF NEW MEXICO TO REMOVE INSURANCE COMPANIES AND COMPANIES ENGAGED IN RISK ASSUMPTION FROM PUBLIC REGULATION COMMISSION REGULATION.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. It is proposed to amend Article 11, Section 2 of the constitution of New Mexico to read:

"The public regulation commission shall have responsibility for chartering and regulating business corporations in such manner as the legislature shall provide. The commission shall have responsibility for regulating public utilities, including electric, natural gas and water companies; transportation companies, including common and contract carriers; transmission and pipeline companies, including telephone, telegraph and information transmission companies; [insurance companies and others engaged in risk assumption] and other public service companies in such manner as the legislature shall provide."

Section 2. The amendment proposed by this resolution shall be submitted to the people for their approval or rejection at the next general election or at a special election prior to that date that may be called for that purpose.