New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 9 - LIFE INSURANCE AND ANNUITIES
Part 8 - VARIABLE LIFE INSURANCE
Section 13.9.8.31 - STANDARDS OF CONDUCT

Every insurer seeking approval to enter into the variable life insurance business in this state shall adopt by formal action of its board of directors a written statement specifying the standards of conduct of the insurer, its officers, directors, employees, and affiliates with respect to the purchase or sale of investments of separate accounts. Such standards of conduct shall be binding on the insurer and those to whom it refers. A code or codes of ethics meeting the requirements of Section 17j under the Investment Company Act of 1940 and applicable rules and regulations thereunder shall satisfy the provisions of this section.