FORTY-NINTH LEGISLATURESB 15/a

FIRST SESSION, 2009

March 4, 2009

Madam President:

    Your JUDICIARY COMMITTEE, to whom has been referred

SENATE BILL 15

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

    1. On page 1, line 12, after "COMPACT", insert "; PROVIDING FOR NON-PREEMPTION".

    2. On page 1, between lines 14 and 15, insert the following new section to read:

    "Section 1. A new section of Chapter 59A, Article 2 NMSA 1978 is enacted to read:

    "[NEW MATERIAL] NONPREEMPTION.--Nothing contained in the Interstate Insurance Product Regulation Compact, nor any decision or action by the interstate insurance product regulation commission, shall preempt, alter or modify any claims or remedies against insurance companies, agents or other persons or entities regulated under the Insurance Code that are or may become available under the common law, the Insurance Code or other statutes of this state."".

    3. Renumber the succeeding section accordingly.

                               Respectfully submitted,

                               __________________________________

                               Cisco McSorley, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 7 For 1 Against

Yes:     7

No:      Sanchez, M.

Excused: Eichenberg, Martinez, Sanchez, B.

Absent:  None

SB0015JU1                                                  .177678.2