New Mexico Administrative Code
Title 1 - GENERAL GOVERNMENT ADMINISTRATION
Chapter 5 - PUBLIC PROPERTY PROCUREMENT AND MANAGEMENT
Part 21 - STATE AGENCIES LEASING REAL PROPERTY
Section 1.5.21.18 - INSURANCE AND INDEMNIFICATION
Universal Citation: 1 NM Admin Code 1.5.21.18
Current through Register Vol. 35, No. 6, March 26, 2024
A. Insurance provisions: All leases between the agency and a private lessor shall contain insurance provisions that have been approved by GSD's risk management division.
B. Indemnification: No lease governed by this rule shall contain any provision whereby the agency agrees to defend, indemnify or provide tort liability insurance for any lessor.
C. Lease provisions void: Any insurance or indemnification provision in any lease executed in violation of this section shall be void and of no effect.
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