NM Stat § 61-27B-8 (2021)
2021 New Mexico Statutes|Chapter 61 - Professional and Occupational Licenses|Article 27B - Private Investigations|Section 61-27B-8 - Private investigation company; requirements for licensure. (Repealed effective July 1, 2024.)

A. The department shall issue a license for a private investigation company to a person that files a completed application accompanied by the required fees and that submits satisfactory evidence that the applicant: (1) if an individual, is of good moral character; or if a legal business entity, the owners, officers or directors of the entity are of good moral character; (2) if an individual, has not been convicted of a felony offense, an offense involving dishonesty, an offense involving an intentional violent act or the illegal use or possession of a deadly weapon and has not been found to have violated professional ethical standards; or if a legal business entity, the owners, officers or directors of the entity, either singly or collectively, have not been convicted of a felony offense or an offense involving intentional violent acts or the illegal use or possession of deadly weapons and have not been found to have violated professional ethical standards; (3) maintains a surety bond in the amount of ten thousand dollars ($10,000); however, private investigators who provide personal protection or bodyguard services shall maintain general liability insurance as specified in the Private Investigations Act in lieu of the surety bond required by the provisions of this paragraph; (4) has an owner or a licensed private investigations manager who is licensed as a private investigator and who manages the daily operations of the private investigation company; (5) maintains a physical location in New Mexico where records are maintained and made available for department inspection; (6) maintains a New Mexico registered agent if the applicant is a private investigation company located outside of New Mexico; and (7) meets all other requirements set forth in the rules of the department. B. The owner or the chief executive officer of a private investigation company that provides personal protection or bodyguard services shall maintain a general liability certificate of insurance in an amount required by the department. The department shall suspend the license issued pursuant to this section of a private investigation company that fails to maintain an effective general liability certificate of insurance as required. The department shall not reinstate the license of a private investigation company that has had its license suspended pursuant to this subsection until an application is submitted to the department with the necessary fees and a copy of the private investigation company's general liability certificate of insurance in effect. The department may deny an application for reinstatement of a private investigation company's license, notwithstanding the applicant's compliance with this subsection for: (1) a reason that would justify a denial to issue a new private investigation company license or that would be cause for a suspension or revocation of a private investigation company's license; or (2) the performance by the applicant of an act requiring a license issued pursuant to the Private Investigations Act while the applicant's license is under suspension for failure to maintain the applicant's general liability certificate of insurance in effect. History: Laws 2007, ch. 115, § 8. ANNOTATIONSCross references. — For definition of "private investigation company", see 61-27B-2 NMSA 1978. Compiler's note. — Laws 2007, ch. 115, § 8 was enacted as a new section 61-27A-6.1 NMSA 1978. It has been codified by the compiler of the NMSA 1978 as a new section 61-27B-8 NMSA 1978. See the compiler's note following 61-27B-1 NMSA 1978. Delayed repeal. — For delayed repeal of the section, see 61-27B-36 NMSA 1978. Effective dates. — Laws 2007, ch. 115, § 38, makes the section effective July 1, 2007.