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MATTER OF REHAB. OF WESTERN INVESTORS LIFE

No. 14504.

671 P.2d 31 (1983)

100 N.M. 370

In the Matter of the REHABILITATION OF WESTERN INVESTORS LIFE INSURANCE COMPANY: WESTERN INVESTORS LIFE INSURANCE CO., by Receiver, Plaintiff-Appellee, v. NEW MEXICO LIFE INSURANCE GUARANTY ASSOCIATION, Defendant-Appellant.

Supreme Court of New Mexico.

October 17, 1983.

Attorney(s) appearing for the Case

Victor R. Marshall, Robert A. Johnson, Rodey, Dickason, Sloan, Akin & Robb, Albuquerque, for defendant-appellant.

Marshall G. Martin, Jason W. Kent, Poole, Tinnin & Martin, Albuquerque, for plaintiff-appellee.

OPINION

STOWERS, Justice.

This appeal arises from the liquidations of two defunct New Mexico insurance companies and involves the construction and application of the New Mexico Life Insurance Guaranty Act (the Act), NMSA 1978, Sections 59-22-1 through 59-22-17. Central to this decision is the exclusionary provision found in Section 59-22-13(F) which provides that:

The Life Insurance Guaranty Act shall not apply to any insurer which is insolvent...

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