N.M. Stat. § 59A-30A-5
Organization of association.
All member insurers shall remain members of the association as a condition of their
authority to transact insurance in this state. The association may take the form of any
appropriate legal entity under New Mexico law, including a corporation, partnership or
unincorporated association, as approved by the superintendent. For purposes of
administration and assessment, the association shall have two separate accounts:
A. the administrative account; and
B. the title guaranty account.