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KRAHLING v. FIRST TRUST NAT. ASS'N

No. 17741.

944 P.2d 914 (1997)

123 N.M. 685

1997-NMCA-082

Chris KRAHLING, Superintendent of Insurance, State of New Mexico, Plaintiff, v. FIRST TRUST NATIONAL ASSOCIATION; Honeywell, Inc.; and Honeywell Pension and Retirement Committee, Third-party Defendants/Appellants, v. The NEW MEXICO LIFE INSURANCE GUARANTY ASSOCIATION, Defendant/Third-party Plaintiff/Appellee.

Court of Appeals of New Mexico.

Certiorari Denied August 15, 1997.

Attorney(s) appearing for the Case

David L. Hashmall, Karen R. Cole, Popham, Haik, Schnobrich & Kaufman, Ltd. Minneapolis, MN, Paul Bardacke and John Baugh Eaves, Bardacke & Baugh, P.A. Albuquerque, for Appellants Honeywell, Inc.; the Honeywell Pension and Retirement Committee; and First Trust National Association.

Victor R. Marshall and Cindi L. Pearlman Victor R. Marshall & Associates, P.C., Albuquerque, for Appellee New Mexico Life Insurance Guaranty Association.

OPINION

PICKARD, Judge.

1. This case involves the Life and Health Insurance Guaranty Fund, created pursuant to NMSA 1978, Sections 59A-42-1 to (Repl. Pamp.1995) (the Guaranty Law) and funded by insurers doing business in the state for the purpose of paying benefits to New Mexico residents when one of its member insurers becomes insolvent. As applicable to this case, the Guaranty Law covers "direct . . . annuity contracts and contracts supplemental...

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