N.M. Stat. § 59A-10-6
Excess deposits.
An insurer may deposit and maintain on deposit with the state treasurer through the
superintendent, funds and securities eligible for deposit under this article in amount not
over one hundred thousand dollars ($100,000) in excess of its required general deposit
or special deposit, as the case may be, for purpose of absorbing fluctuations in value of
assets held on deposit, and to facilitate exchange and substitution of such assets.