N.M. Stat. § 59A-10-1
Authorized deposits.
The following deposits of insurers when made with the state treasurer through the
superintendent shall be accepted and held in trust, subject to the provisions of Sections
161 through 170 [59A-10-1 to 59A-10-10 NMSA 1978] of this article:
A. deposits required under the Insurance Code for authority to transact insurance in
this state;
B. deposits of domestic insurers when made pursuant to laws of other states,
provinces or countries as requirement for authority to transact insurance therein; and
C. deposits in such additional amounts as permitted under Section 166 [59A-10-6
NMSA 1978] (excess deposits) of this article.