reglab/housing_qa huggingface dataset:
NM Stat § 59A-12D-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 12D - Reinsurance Intermediaries|Section 59A-12D-9 - Duties of reinsurers utilizing the services of a reinsurance intermediary-manager.

A. A reinsurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary-manager on its behalf unless such person is licensed as required by Subsection B of Section 59A-12D-3 NMSA 1978. B. The reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-manager which such reinsurer has engaged prepared by an independent certified accountant in a form acceptable to the superintendent. C. If a reinsurance intermediary-manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance intermediary-manager. This opinion shall be in addition to any other required loss reserve certification. D. Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the reinsurance intermediary-manager. E. Within thirty days of termination of a contract with a reinsurance intermediary-manager, the reinsurer shall provide written notification of such termination to the superintendent. F. A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder or subagent or subbroker of its reinsurance intermediary-manager. This subsection shall not apply to relationships governed by The Insurance Holding Company Law [Chapter 59A, Article 37 NMSA 1978] or, if applicable, the Broker Controlled Insurer Law [Chapter 59A, Article 12C NMSA 1978]. History: 1978 Comp., § 59A-12D-9, enacted by Laws 1993, ch. 320, § 50.
NM Stat § 59A-12D-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 12D - Reinsurance Intermediaries|Section 59A-12D-10 - Examination authority.

A. A reinsurance intermediary shall be subject to examination by the superintendent. The superintendent shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the superintendent. B. A reinsurance intermediary-manager may be examined as if it were the reinsurer. History: 1978 Comp., § 59A-12D-10, enacted by Laws 1993, ch. 320, § 51.
NM Stat § 59A-12D-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 12D - Reinsurance Intermediaries|Section 59A-12D-11 - Penalties and liabilities.

A. If the superintendent determines that the reinsurance intermediary or any other person has not materially complied with the provisions of the Reinsurance Intermediary Law, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the superintendent may order: (1) for each separate violation, a penalty in an amount not exceeding ten thousand dollars ($10,000); (2) revocation or suspension of the reinsurance intermediary's license; and (3) if it was found that because of such material noncompliance that the insurer or reinsurer has suffered any loss or damage, the superintendent may maintain a civil action brought by or on behalf of the reinsurer or insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors or seek other appropriate relief. B. If an order of rehabilitation or liquidation of the insurer has been entered pursuant to Chapter 59A, Article 41 NMSA 1978, and the receiver appointed under that order determines that the reinsurance intermediary or any other person has not materially complied with the provisions of the Reinsurance Intermediary Law or any regulation or order promulgated thereunder, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or another appropriate sanction for the benefit of the insurer. C. Nothing contained in this section shall affect the right of the superintendent to impose any other penalties provided for in the Insurance Code. D. Nothing contained in the Reinsurance Intermediary Law is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors or other third parties. History: 1978 Comp., § 59A-12D-11, enacted by Laws 1993, ch. 320, § 52. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
NM Stat § 59A-12D-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 12D - Reinsurance Intermediaries|Section 59A-12D-12 - Effective date.

No insurer or reinsurer may continue to utilize the services of a reinsurance intermediary on or after July 1, 1993, unless utilization is in compliance with the Reinsurance Intermediary Law. History: 1978 Comp., § 59A-12D-12, enacted by Laws 1993, ch. 320, § 53.
NM Stat § 59A-13-1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-1 - Scope of article.

This article [Chapter 59A, Article 13 NMSA 1978] defines adjusters, requires license, states qualifications for licensing, and other requirements of adjusters so acting in this state. As to licensing procedures, issuance, duration, suspension, revocation or refusal to continue license in general, refer to Article 11 [Chapter 59A, Article 11 NMSA 1978] of the Insurance Code. History: Laws 1984, ch. 127, § 229. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 44 Am. Jur. 2d Insurance § 1349.
NM Stat § 59A-13-3 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-3 - License required.

A. No person shall, in this state, act as, or make any representation as being, an adjuster unless licensed as such by the superintendent under the Insurance Code. B. No person, regardless of location, shall act as, or make any representation as being, an adjuster with respect to workers' compensation claims of claimants resident or located in New Mexico unless licensed as such by the superintendent under the Insurance Code. C. Notwithstanding any other provision of law, a nonresident may be licensed as a nonresident independent adjuster for the purposes of portable electronics insurance if that applicant has designated another state as the applicant's home state. History: Laws 1984, ch. 127, § 231; 1989, ch. 313, § 1; 2013, ch. 140, § 12. ANNOTATIONSThe 2013 amendment, effective July 1, 2013, provided for a nonresident independent adjustor license; and added Subsection C.
NM Stat § 59A-13-3.1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-3.1 - Examination for license.

A. An individual applying for a license as an adjuster shall, prior to issuance of a license, personally take and pass a written examination. The examination shall test the knowledge of the individual concerning the duties and responsibilities of an adjuster and the insurance laws and rules of this state. Examinations required by this section shall be developed and conducted under rules prescribed by the superintendent. B. The superintendent may contract with an outside testing service for administering examinations and collecting the nonrefundable fee set forth in Section 59A-6-1 NMSA 1978. C. Each individual applying for an examination shall remit a nonrefundable fee as prescribed by the superintendent as set forth in Section 59A-6-1 NMSA 1978. D. An individual who fails to appear for an examination as scheduled or fails to pass the examination shall reapply for an examination and remit all required fees and forms before being rescheduled for another examination. E. No examination shall be required: (1) for renewal or continuation of an existing license, except as provided in Subsection D of Section 59A-11-10 NMSA 1978; or (2) if the applicant took and passed a similar examination in a state in which the applicant is already licensed, subject to Section 59A-5-33 NMSA 1978. History: Laws 2016, ch. 89, § 55; 2017, ch. 76, § 2. ANNOTATIONSThe 2017 amendment, effective June 16, 2017, removed the qualifying term "resident" from an individual applying for a license as an adjuster, and removed the provision related to temporary licenses; in Subsection A, deleted "A resident" and added "An"; in Subsection E, at the end of Paragraph E(1), added "or", deleted former Paragraph E(2) and redesignated former Paragraph E(3) as Paragraph E(2). Severability. — Laws 2016, ch. 89, § 71 provided that if any part or application of Laws 2016, ch. 89 is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 59A-13-5 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-5 - Bond.

A. With application for license as an adjuster other than as staff adjuster, the applicant shall file with the superintendent a surety bond in favor of the superintendent in aggregate amount of not less than ten thousand dollars ($10,000), conditioned to pay actual damages resulting to the state of New Mexico or any member of the public in New Mexico from violation of law by the licensee while acting as an adjuster. The bond shall be one executed by an authorized surety insurer. B. The bond shall remain in effect for the duration of the license, or until the surety is released from liability by the superintendent, or until canceled by the surety. Without prejudice to any liability accrued prior to cancellation, the surety may cancel a bond by giving written notice to the superintendent at least thirty days prior to effective date of cancellation. C. The applicant or licensee may file with the superintendent a cash bond in like amount, in lieu of surety bond. History: Laws 1984, ch. 127, § 233; 2017, ch. 76, § 4. ANNOTATIONSCross references. — For existing deposits and bonds, see notes following 59A-5-18 NMSA 1978. The 2017 amendment, effective June 16, 2017, removed a reference to temporary licenses; in Subsection A, after "application for license", deleted "temporary or otherwise"; and in Subsection B, after "until", changed "cancelled" to "canceled".
NM Stat § 59A-13-7 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-7 - Separate license; independent, staff adjusters.

Separate licenses shall be required for independent adjusters and staff adjusters, but the same individual may be so separately licensed as both. History: Laws 1984, ch. 127, § 235.
NM Stat § 59A-13-8 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-8 - Powers conferred by adjuster license.

An independent adjuster shall have the powers granted by its principal to investigate, report upon, adjust and settle claims on behalf of an insurer or self insurer and have additional powers as to claims and losses as may be conferred by the principal. A staff adjuster shall have only such powers with respect to claims and losses as granted by the adjuster's employer or affiliates of the adjuster's employer. A temporary adjuster shall, as to claims and losses, have the powers of the employer, subject to extension or limitation by contract. History: Laws 1984, ch. 127, § 236; 2007, ch. 282, § 9. ANNOTATIONSCross references. — For settlements, releases and statements of injured patients, see 41-1-1, 41-1-2 NMSA 1978. The 2007 amendment, effective June 15, 2007, provided that an independent adjuster has the powers granted by its principal to investigate and report on claims. Am. Jur. 2d, A.L.R. and C.J.S. references. — 44 Am. Jur. 2d Insurance § 1702. Activities of insurance adjusters as unauthorized practice of law, 29 A.L.R.4th 1156. Liability of independent or public insurance adjuster to insured for conduct in adjusting claim, 50 A.L.R.4th 900.
NM Stat § 59A-13-9 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-9 - Place of business.

A. A resident adjuster shall have and maintain a principal place of business in this state that is easily accessible to the public and is the place where the adjuster principally conducts transactions under the license. The address of the principal place of business shall appear on the application for license and on the license. B. An adjuster shall promptly notify the superintendent of a change of address. Failure to notify the superintendent of a change of address within twenty days shall subject the licensee to a penalty in the amount of fifty dollars ($50.00). History: Laws 1984, ch. 127, § 237; 2003, ch. 306, § 7; 2011, ch. 127, § 9. ANNOTATIONSThe 2011 amendment, effective July 1, 2011, required a resident adjuster to maintain a principal place of business in New Mexico and required an adjuster to notify the superintendent of a change of address. The 2003 amendment, effective June 20, 2003 substituted "and" for "in this state and while so licensed shall", inserted "in the state that is" following "principal place of business", and substituted "is the place" for "from which" all near the beginning of the section and added the final sentence.
NM Stat § 59A-13-10 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-10 - Records of independent adjuster.

A. Each independent adjuster shall keep at the business address shown on his license a record of all transactions under the license. The record shall include: (1) the documents relating to all investigations or adjustments undertaken, and (2) a statement of any fee, commission or other compensation received or to be received by the adjuster on account of such investigation or adjustment. B. The adjuster shall make such records available for examination by the superintendent at all reasonable times, and shall retain records as to a particular investigation or adjustment for not less than three (3) years after completion of such investigation or adjustment. History: Laws 1984, ch. 127, § 238.
NM Stat § 59A-13-11 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-11 - Resident claims representative for payment of workers' compensation claims.

Each workers' compensation insurer shall have at least one claims representative within New Mexico, licensed as an adjuster, to pay workers' compensation claims of claimants resident or located in New Mexico. Such claims shall be paid promptly through such representatives from accounts in financial institutions located within New Mexico. History: 1978 Comp., § 59A-13-11, enacted by Laws 1989, ch. 313, § 2.
NM Stat § 59A-13-12 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-12 - Continuing education.

A. The superintendent shall require as a condition to continuation of an adjuster license that during the twenty-four months next preceding expiration of the current license period, the licensee has attended the minimum number of hours of formal class instruction, lectures or seminars required and approved by the superintendent. B. Instruction shall be designed to refresh the licensee's understanding of basic principles and coverages involved, recent and prospective changes, applicable laws and rules of the superintendent, proper conduct of the licensee's business and duties and responsibilities of the licensee. C. The superintendent may permit licensees to successfully complete an equivalent course of study and instruction online or by mail. D. The superintendent may impose a penalty not to exceed fifty dollars ($50.00) for a licensee's failure to timely report continuing education credits. E. The superintendent shall charge, at the time of certifying each licensee's continuing education credits as a condition of continuation of license, a fee of one dollar ($1.00) per credit hour of continuing education; provided that the superintendent may contract with an independent agency to receive and review a continuing education compliance report, and in such a case, the fee shall be a reasonable amount fixed by the superintendent and payable to the contracting agency. History: Laws 2016, ch. 89, § 56; 2017, ch. 76, § 6. ANNOTATIONSThe 2017 amendment, effective June 16, 2017, removed certain conditions on allowing study and instruction online or by mail; and in Subsection C, after "may permit licensees", deleted "who, because of remoteness of residence or business, cannot with reasonable convenience attend formal instruction sessions". Severability. — Laws 2016, ch. 89, § 71 provided that if any part or application of Laws 2016, ch. 89 is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 59A-13-13 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-13 - Prohibited conduct regarding the adjustment and repair of property damage.

A. An adjuster may not adjust a loss related to physical damage of a property on which the adjuster is also a contractor, acts as a contractor or is employed as a contractor, including a roofing contractor, building contractor or plumbing contractor, or otherwise provides building repairs or products, including building or plumbing repairs or products, for compensation or is a controlling person in a business relating to such contracting. B. A contractor or a roofing contractor may not act as an adjuster or advertise to adjust claims for any property for which the contractor is providing or may provide roofing, building, plumbing or other contractor services, regardless of whether the contractor is a licensed adjuster. C. In those instances in which an adjuster who is also a contractor is performing either as an adjuster or as a contractor on behalf of an insured, the adjuster shall provide the insured with a disclaimer, on a form promulgated by the superintendent and signed by the adjuster, indicating in which of these two capacities the adjuster is serving the insured and affirming that the adjuster is not serving the insured in the other capacity. The adjuster shall retain copies of such signed disclaimers and make them available to the superintendent upon the superintendent's request. History: Laws 2017, ch. 76, § 7. ANNOTATIONSEffective dates. — Laws 2017, ch. 76 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2017, 90 days after the adjournment of the legislature.
NM Stat § 59A-13-16 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-16 - Escrow or trust accounts.

A public adjuster who receives, accepts or holds any funds on behalf of an insured toward the settlement of a claim for loss or damage shall deposit the funds in a non-interest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster's home state or where the loss occurred. History: Laws 2017, ch. 76, § 10. ANNOTATIONSEffective dates. — Laws 2017, ch. 76 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2017, 90 days after the adjournment of the legislature.
NM Stat § 59A-13-17 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 13 - Adjusters|Section 59A-13-17 - Records of public adjuster.

A. A public adjuster shall maintain a complete record of each transaction as a public adjuster. The records required by this section shall include the following: (1) the name of the insured; (2) the date, location and amount of the loss; (3) a copy of the contract between the public adjuster and the insured; (4) the name of the insurer, amount, expiration date and number of each policy carried with respect to the loss; (5) an itemized statement of the insured's recoveries; (6) an itemized statement of all of the compensation received by the public adjuster, from any source whatsoever, in connection with the loss; (7) a register of all of the money received, deposited, disbursed or withdrawn in connection with a transaction with an insured, including fees, transfers and disbursements from a trust account and all transactions concerning all interest-bearing accounts; (8) the name of the public adjuster who executed the contract; and (9) the name of the attorney representing the insured, if applicable, and the name of the claims representatives of the insurance company. B. Records shall be maintained for at least five years after the termination of the transaction with an insured and shall be open to examination by the superintendent at all times. C. Records submitted to the superintendent pursuant to this section that contain information identified in writing as proprietary by the public adjuster and accepted as confidential by the superintendent shall be treated as confidential by the superintendent, shall not be subject to the Inspection of Public Records Act [Chapter 14, Article 2 NMSA 1978], shall not be subject to subpoena and shall not be subject to discovery or admissible as evidence in any private civil action. History: Laws 2017, ch. 76, § 11. ANNOTATIONSEffective dates. — Laws 2017, ch. 76 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 2017, 90 days after the adjournment of the legislature.
NM Stat § 59A-14-4.1 (2021)
2021 New Mexico Statutes|Chapter 59A - Insurance Code|Article 14 - Surplus Line Insurance|Section 59A-14-4.1 - Withdrawal of eligibility from a surplus lines insurer.

The superintendent may at any time declare an eligible surplus lines insurer to be ineligible if the superintendent has reason to believe that the insurer: A. is in unsound financial condition; B. is subject to delinquency proceedings in this state or any other jurisdiction; C. is no longer eligible under Section 59A-14-4 NMSA 1978; D. has violated the laws of this state, including any violation of the Insurance Code or the superintendent's orders; E. does not make reasonably prompt payment of loss claims or other obligations in this state or elsewhere; F. has failed within sixty days to satisfy a final judgment rendered against it or against an insured for which it is legally liable under the terms of a contract of surplus lines insurance; or G. has failed to satisfy the superintendent that it is fit to be allowed to continue to do business in this state. The superintendent shall promptly mail notice of all such declarations to the insurer and to every surplus lines broker. Notice sent pursuant to this subsection to a licensed surplus lines broker may, at the option of the surplus lines broker, be sent by the superintendent via electronic mail. History: 1978 Comp., § 59A-14-4.1, enacted by Laws 1991, ch. 125, § 15; 2017, ch. 130, § 9. ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto. The 2017 amendment, effective July 1, 2017, authorized the superintendent of insurance to use electronic mail to notify surplus lines brokers of ineligible surplus lines insurers; in Subsection D, after "including", deleted "but not limited to"; and added the last sentence of Subsection G.