N.M. Stat. § 59A-16-4 : — INSURANCE CODETRADE PRACTICES AND FRAUDS —16-4 - Misrepresentation, false advertising of policies

No person shall make, publish, issue or circulate any estimate, illustration, circular, statement, sales presentation or comparison which:

A. misrepresents the benefits, advantages, conditions or terms of any policy;
B. misrepresents the premium overcharge commonly called dividends or share of the surplus to be received on any policy;
C. makes any false or misleading statement as to dividends or share of surplus previously paid on any policy;
D. is misleading or a misrepresentation as to the financial condition of any person, or as to the reserve system upon which any life insurer operates;
E. uses any name or title of any policy or class of policies misrepresenting the true nature thereof;
F. misrepresents any policy as being shares of stock; or
G. fails to disclose material facts reasonably necessary to prevent other statements made from being misleading.

NMS § 59A-16-4

Laws 1984, ch. 127, § 272.
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