Review of health insurance or plan rates; appeal to

court of appeals from superintendent. A. In a matter arising from an order of the superintendent on appeal pursuant to Section 59A-18-13.3 NMSA 1978, an aggrieved party may appeal to the court of appeals. B. The court of appeals shall consider the superintendent's order on appeal and reverse the order only if the court determines: (1) after evaluation of the record of evidence as a whole, that the superintendent's decision was not based on substantial evidence as to whether the proposed rates are reasonable, actuarially sound and based on reasonable administrative expenses; (2) that the superintendent's decision was arbitrary, capricious or an abuse of discretion; or (3) that the superintendent's decision on appeal is otherwise not in accordance with law.