Opinion No. 13-1027
April 29, 1913
TO: Honorable M. S. Groves, Acting Chairman, State Corporation Commission, Santa Fe, N. M.
INSURANCE.
Insurance companies to publish statement of financial condition in one newspaper.
OPINION
{*192} I am in receipt of your communication of the 28th inst. in which you ask for the opinion of this office as to the interpretation which should be made of the language of Section 8, Chapter 49 of the Laws of 1912. That section reads as follows:
"Sec. 8. Every fire and life insurance company doing business in the state shall annually publish once only in the English language in some newspaper of general circulation in each county in the state, a statement of the financial condition of such company."
Section 11 of this act repeals Chapter 79 of the Laws of 1909, Section 10 of which required insurance companies to publish a statement annually of their financial condition, in each county in which they may be doing business, and it is obvious from the language of Section 8, of the present law, that the legislative intent was to require only one publication in one newspaper having a general circulation in every county of New Mexico. Possibly the insurance companies may be able to find a newspaper which has a general circulation in each county of the state, but it seems plain that only one publication in one newspaper is required.