reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 25 - ESCROW COMPANIES › Part 2 - ESCROW COMPANY ACT › Section 12.25.2.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 2550 Cerrillos Road, Santa Fe, New Mexico 87505.
				  Telephone No. (505) 476-4885.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 25 - ESCROW COMPANIES › Part 2 - ESCROW COMPANY ACT › Section 12.25.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 1, 2015, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 25 - ESCROW COMPANIES › Part 2 - ESCROW COMPANY ACT › Section 12.25.2.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this sub-part is to effectuate the purposes
				  of the Escrow Company Act.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 25 - ESCROW COMPANIES › Part 2 - ESCROW COMPANY ACT › Section 12.25.2.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Act" means the
				Escrow Company Act, Sections
				58-22-1
				NMSA 1978
et seq., as amended.
B. "Banking day" means a day a financial
				institution is open for the normal conduct of its business, but does not
				include Saturday, Sunday or any legal holiday.
C. "Director" means the director of the
				financial institutions division.
D.
				"Division" means the financial institutions division of the regulation and
				licensing department, state of New Mexico.
E. "Escrow" means any transaction wherein any
				written instrument, money, evidence of title to real or personal property or
				other thing of value is delivered to a person not otherwise having any right,
				title or interest therein for the purpose of effecting the sale, transfer,
				encumbrance or lease of real or personal property, to be held by that person as
				a neutral third-party until the happening of a specified event or the
				performance of a prescribed condition when it is then to be delivered by such
				person to a grantee, grantor, promise, promisor, oblige, obligor, bailee,
				bailor or any agent or employee of any of them pursuant to the written
				instructions of the principals to the transaction; escrow also includes
				accepting payments on loans for remission to a third party, otherwise known as
				"servicing".
F. "Escrow agent"
				means any person, other than escrow closing agent as defined in Subsection F of
				12.25.2.7 NMAC, who engages in the business of receiving escrows for deposit or
				delivery and who receives or is promised any fee, commission, salary or other
				valuable consideration, whether contingent or otherwise, for or in anticipation
				of performance.
G. "Escrow closing
				agent" means an escrow company which, in the normal course of business, acts as
				the agent of a buyer and seller of real estate for the purpose of consummating
				a sale, including, but not limited to, the performance of the following
				described functions:
(1) preparation of deeds,
				mortgages, promissory notes, deeds of trust, real estate contracts, assignments
				or other documents incidental to the sale as permitted by law;
(2) calculations and disbursements of
				prorated taxes, insurance premiums, utility bills and other charges incidental
				to the sale;
(3) preparation of
				buyers' and seller' closing statements;
(4) supervision of signing of
				documents;
(5) collection and
				disbursement of a down payment, realtors' commissions, fees and other charges
				pursuant to a sales agreement; and
(6) recordation of documents.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 25 - ESCROW COMPANIES › Part 2 - ESCROW COMPANY ACT › Section 12.25.2.8 - ESCROW COMPANY ACT REGULATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Surety bond:
(1) the surety bond shall run
				concurrent with the licensing period and shall be in the minimum amount of
				$100,000.00 for the benefit of the people of the state of New Mexico;
(2) it shall be in a form devised by the
				director; and
(3) the escrow
				company shall provide the director with notice of cancellation of the bond at
				least fifteen (15) days prior to the effective date of cancellation.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 8 - CERTIFIED AUDIT › Section 12.26.8.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 8 - CERTIFIED AUDIT › Section 12.26.8.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Endowed Care Cemetery Act of 1961 ("Act"), Sections
				  58-17-1 to
				  58-17-17
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 8 - CERTIFIED AUDIT › Section 12.26.8.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 8, 1993 unless a later date is cited at the end of a
				  section or paragraph. Reformatted in NMAC format effective September 30,
				  1997.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 8 - CERTIFIED AUDIT › Section 12.26.8.8 - CERTIFIED AUDIT

Current through Register Vol. 35, No. 13, July 16, 2024
For the purposes of Section 58-17-13(A) of the Act, a
				  "certified audit" shall consist of the following procedures.
A. Obtain the entire population of contracts
				used in the cemetery operation representing all sales occurring in a specific
				year.
B. Determine that there are
				no missing contracts. Verify that the first contract in the current year is the
				next contract after the last contract of the previous year.
C. Depending on the volume of business
				transacted, choose two or more months, at random, in order to reduce the "test
				size" of the examination.
D. Review
				all of the contracts in each sample, and tally all sales of endowed care
				properties. Calculate the proper amount to be placed in trust in accordance
				with the Act.
E. Obtain cemetery
				deposit records and compare the recording of deposits to the result of the
				calculation performed under paragraph 8.1.4 of this section [now Subsection D
				of 12.26.8.8 NMAC].
F. Obtain bank
				trust account statements and review the deposits.
G. Ensure that the deposits are sufficient in
				amount. Note: Section
				58-17-6
				of the Act allows a cemetery authority to make deposits on installments on a
				pro-rata basis. Contracts for the sale of numerous goods and services that
				include the sale of endowed care property are common. Determine what proportion
				to the total sale the endowed care sale represents. Multiply that factor times
				the installment payment and then determine the required statutory percentage.
Example:
Total contract sale . . . . . . . . $1,000.00
Endowed care sale (plot) . . . $ 750.00
Endowed care sale = 75% of the total sale.
Installment of $100.00/month for 10 months.
$100.00 x .75 = $75.00
$75.00 x .25 = $18.75 required deposit to trust fund.
Check point: $750.00 x .25 = $187.50
$ 18.75 x 10 installments = $187.50
Review Section
				  58-17-6
				  of the Act for compliance.
H. Ensure that the deposits are made on a
				timely basis. Compare the date of deposit to the date of close of the month in
				which monies were received. Not more than thirty days should have
				elapsed.
I. Trace trust account
				disbursements from the bank to the cemetery's record(s) of expenditures.
				Acceptable expenditures are those listed under the definition of "endowed
				care". Note: cemeteries should have accounting controls and procedures to
				enable an examiner to trace bank disbursements to specific
				expenditures.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 9 - ACTUAL COST OF EXAMINATIONS › Section 12.26.9.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 9 - ACTUAL COST OF EXAMINATIONS › Section 12.26.9.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Endowed Care Cemetery Act of 1961 ("Act"), Sections
				  58-17-1 to
				  58-17-17
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 9 - ACTUAL COST OF EXAMINATIONS › Section 12.26.9.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 8, 1993 unless a later date is cited at the end of a
				  section or paragraph. Reformatted in NMAC format effective
				  9-30-1997.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 9 - ACTUAL COST OF EXAMINATIONS › Section 12.26.9.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to clarify Section 58-17-13(B)
				  of the Act.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 26 - CEMETERIES › Part 9 - ACTUAL COST OF EXAMINATIONS › Section 12.26.9.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purposes of Section 58-17-13(B) of the Act, the term
				  "actual cost" is defined as the examiner's salary computed on a pro rata basis,
				  mileage, airfare, automobile rental, per diem and copying costs. Travel days or
				  any portion thereof shall be included in determining actual
				  costs.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
New Mexico State Corporation Commission [Public Regulation
				  Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM
				  87504-1269.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all rules adopted by the superintendent
				  of insurance as parts of Title 13 of the New Mexico Adminstrative
				  Code.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 1997, unless a later date is cited at the end of a
				  section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used throughout Title 13, the following terms have the
				  following meanings:
A.
"Department"
means the department of insurance of the state
				corporation commission or its successor.
B.
"Insurance code"
has the
				meaning given in Section 59A-1-3 NMSA 1978.
C.
"Insurer"
has the meaning
				given in Section 59A-1-8 NMSA 1978 and includes any entity whose acceptance of
				risk subjects it to the Insurance Code, unless a different definition is given
				in a specific rule.
D.
"Person"
has the meaning given in Section 59A-1-10 NMSA
				1978.
E.
"State"
has
				the meaning given in Section 59A-1-11 NMSA 1978.
F.
"Superintendent"
has the
				meaning given in Section 59A-1-12 NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.8 - REFERENCES TO OTHER DOCUMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
When a rule issued by the superintendent relating to
				  insurance refers to another rule, regulation, statute, or other document, the
				  reference, unless stated specifically to the contrary, is continuous and
				  intended to refer to all amendments of the rule, regulation, statute, or
				  document.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.9 - INTERPRETATION OF TERMS

Current through Register Vol. 35, No. 13, July 16, 2024
Unless the context otherwise requires:
A.
Singular/plural:
Words used
				in the singular include the plural; words used in the plural include the
				singular;
B.
Gender:
Words used in the neuter gender include the masculine and the feminine. The
				personal pronoun in either gender may be used in these rules to refer to any
				person, firm or corporation.
C.
Permissive/mandatory:
May is permissive; shall and must are
				mandatory.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.10 - USE OF DEPARTMENT-PRESCRIBED FORMS

Current through Register Vol. 35, No. 13, July 16, 2024
The department has prescribed forms to carry out certain
				  requirements of these rules. Department-prescribed forms must be used when a
				  form exists for the purpose, unless these rules state otherwise or the
				  superintendent waives this requirement. The superintendent will accept filings
				  made on photocopies of department forms, provided they are
				  legible.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.11 - ADDRESS FOR FILING DOCUMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
By mail:
Superintendent of Insurance, P.O. Box 1269, Santa Fe, NM
				87504-1269
B.
In
				person:
New Mexico State Corporation Commission [Public Regulation
				Commission], Department of Insurance, Office of the Chief Clerk, P.E.R.A.
				Building, 1120 Paseo de Peralta, at the corner of Old Santa Fe Trail, Santa Fe,
				New Mexico.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 1 - ADMINISTRATIVE PROVISIONS › Section 13.1.1.12 - SEVERABILITY

Current through Register Vol. 35, No. 13, July 16, 2024
If any provision of any rule in Title 13 adopted by the
				  superintendent of insurance, or the application of any provision to any person
				  or circumstance, is for any reason held to be invalid, the remainder of the
				  rule and the application of the provision to other persons or circumstances
				  shall not be affected thereby.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
New Mexico State Corporation Commission [Public Regulation
				  Commission,] Department of Insurance, Post Office Box 1269 Santa Fe, NM
				  87504-1269.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections 59A-2-8, 59A-2-10 and 59A-4-3 NMSA
				  1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 1997, unless a later date is cited at the end of a
				  section or paragraph.
Compiler's note: The words
or paragraph
,
				  above, are no longer applicable. Later dates are now cited only at the end of
				  sections, in the history notes appearing in brackets.]
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to establish a procedure for the
				  superintendent to request information pursuant to a provision of the insurance
				  code or of a rule adopted by the department, to publish general notice of
				  requirements under the law, and to issue orders generally applicable to large
				  numbers of insurers.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A
"bulletin"
is a statement, inquiry, or order
				  of broad or general interest or application that does not in itself create new
				  law but which may require certain actions to be performed under existing
				  law.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.8 - USE OF BULLETINS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				superintendent may issue bulletins requiring any person or company subject to
				regulation by the department:
(1) to comply
				with requests from the superintendent to provide information useful in the
				lawful enforcement or administration of any provision of a rule adopted by the
				department or of the Insurance Code;
(2) to respond to an inquiry from the
				superintendent with respect to any transaction or matter within the scope of
				the superintendent's supervision;
(3) to comply with an order requiring that
				certain actions be performed.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.9 - PROCEDURE FOR ISSUING BULLETINS

Current through Register Vol. 35, No. 13, July 16, 2024
Bulletins shall be numbered, dated and signed by the
				  superintendent. Bulletins shall be effective on the date issued, unless a
				  different effective date is specified in the bulletin.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 2 - INSURANCE BULLETINS › Section 13.1.2.10 - REVIEW PROCEDURE

Current through Register Vol. 35, No. 13, July 16, 2024
Any person aggrieved by a bulletin may request a hearing
				  before the superintendent in accordance with Section 59A-4-15 NMSA
				  1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to:
A. Nonpublic personal financial information
				about individuals who obtain or are claimants or beneficiaries of products or
				services primarily for personal, family or household purposes from licensees.
				This rule does not apply to information about companies or about individuals
				who obtain products or services for business, commercial or agricultural
				purposes; and
B. All nonpublic
				personal health information.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
NMSA 1978, Section 59A-2-9(1997) and Section
				  59A-2-9.3(2001).
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
February 25, 2002 unless a later date is cited in the history
				  note at the end of a section.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule governs the treatment of nonpublic personal health
				  information and nonpublic personal financial information about individuals by
				  all licensees of the NMPRC Insurance Division and is intended to afford
				  individuals greater privacy protections than those provided in the
				  Gramm-Leach-Bliley Financial Modernization Act (GLBA),
				  Pub. L.
				  106-102, 113 Stat. 1338, 1415-17 (1999) (codified
				  at 15 U.S.C.A. Section 6716 ). This rule:
A. Requires a licensee to provide notice to
				individuals about its privacy policies and practices;
B. Describes the conditions under which a
				licensee may disclose nonpublic personal health information and nonpublic
				personal financial information about individuals to affiliates or nonaffiliated
				third parties without authorization from the affected individual; and
C. Provides methods for individuals to
				authorize a licensee to disclose nonpublic personal information to affiliates
				or nonaffiliated third parties.
D.
				The examples in this rule and the sample clauses in 13.1.3.28 NMAC are not
				exclusive. Compliance with an example or use of a sample clause, to the extent
				applicable, constitutes compliance with this rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule, unless the context requires
				  otherwise:
A.
"Affiliate"
means a company that controls, is controlled by or is under
				common control with another company.
B.
"Clear and conspicuous"
means that a notice is reasonably understandable and designed to call attention
				to the nature and significance of the information in the notice. Examples:
(1)
Reasonably understandable.
A licensee makes its notice reasonably understandable if it:
(a) Presents the information in the notice in
				clear, concise sentences, paragraphs and sections;
(b) Uses short explanatory sentences or
				bullet lists whenever possible;
(c)
				Uses definite, concrete, everyday words and active voice whenever
				possible;
(d) Avoids multiple
				negatives;
(e) Avoids legal and
				highly technical business terminology whenever possible; and
(f) Avoids explanations that are imprecise
				and readily subject to different interpretations.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.8 - INITIAL PRIVACY NOTICE TO CONSUMERS REQUIRED FOR NONPUBLIC PERSONAL FINANCIAL INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Initial notice requirement.
A licensee shall provide a clear and
				conspicuous notice that accurately reflects its privacy policies and practices
				to:
(1)
Customer.
An individual
				who becomes the licensee's customer, not later than when the licensee
				establishes a customer relationship, except as provided in subsection E of
				13.1.3.8 NMAC; and
(2)
Consumer.
A consumer, when the licensee requests authorization to
				disclose any nonpublic personal financial information about the consumer to any
				nonaffiliated third party other than disclosures listed in 13.1.3.18 NMAC and
				13.1.3.19 NMAC for which no authorization is required.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.10 - INFORMATION TO BE INCLUDED IN PRIVACY NOTICES REQUIRED FOR NONPUBLIC PERSONAL FINANCIAL INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
General rule.
The initial, annual and revised privacy notices that a
				licensee provides under 13.1.3.8 NMAC, 13.1.3.9 NMAC and 13.1.3.12 NMAC shall
				include each of the following items of information, in addition to any other
				information the licensee wishes to provide, that applies to the licensee and to
				the consumers to whom the licensee sends its privacy notice:
(1) The categories of nonpublic personal
				financial information that the licensee collects;
(2) The categories of nonpublic personal
				financial information that the licensee will disclose if authorization is
				obtained from the consumer whose nonpublic personal financial information is
				sought to be disclosed;
(3) The
				categories of affiliates and nonaffiliated third parties to whom the licensee
				discloses nonpublic personal financial information, other than those parties to
				whom the licensee discloses information under 13.1.3.18 NMAC and 13.1.3.19
				NMAC;
(4) The categories of
				nonpublic personal financial information about the licensee's former customers
				that the licensee discloses and the categories of affiliates and nonaffiliated
				third parties to whom the licensee discloses nonpublic personal financial
				information about the licensee's former customer, other than those parties to
				whom the licensee discloses information under 13.1.3.18 NMAC and 13.1.3.19
				NMAC;
(5) If a licensee discloses
				nonpublic personal financial information to a nonaffiliated third party under
				13.1.3.17 NMAC (and no other exception in 13.1.3.18 NMAC and 13.1.3.19 NMAC
				applies to that disclosure), a separate description of the categories of
				information the licensee discloses and the categories of third parties with
				whom the licensee has contracted;
(6) An explanation of the consumer's right
				under subsection A of 13.1.3.14 NMAC to authorize or not to authorize the
				disclosure of nonpublic financial personal information to nonaffiliated third
				parties;
(7) Any disclosures that
				the licensee makes under Section 603(d)(2)(A)(iii) of the federal Fair Credit
				Reporting Act (
				15 U.S.C.
				1681 a(d)(2)(A)(iii) ) (that is, notices
				regarding the ability to opt out of disclosures of information among
				affiliates);
(8) The licensee's
				policies and practices with respect to protecting the confidentiality and
				security of nonpublic personal financial information; and
(9) Any disclosure that the licensee makes
				under subsection B of 13.1.3.10 NMAC.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.11 - NOTICE TO CONSUMERS REGARDING REQUEST FOR AUTHORIZATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Form of notice.
If a
				licensee is required to provide notice under subsection A of 13.1.3.14 NMAC, it
				shall provide a clear and conspicuous notice to each of its consumers that
				accurately explains the right to authorize disclosures under that section. The
				notice shall state:
(1) That the licensee may
				only disclose nonpublic personal information about its consumer if the licensee
				first obtains authorization from the consumer; and
(2) That the consumer has the right to
				authorize or not to authorize the disclosure.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.12 - REVISED PRIVACY NOTICES FOR NONPUBLIC PERSONAL FINANCIAL INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
General
				rule.
Except as otherwise authorized in this rule, a licensee shall not,
				directly or through an affiliate, disclose any nonpublic personal financial
				information about a consumer other than as described in the initial notice that
				the licensee provided to that consumer under 13.1.3.8 NMAC or in the
				authorization obtained from the consumer, unless:
(1) The licensee has provided to the consumer
				a clear and conspicuous revised notice that accurately describes its policies
				and practices;
(2) The licensee has
				provided to the consumer a new notice to consumers regarding request for
				authorization and a new authorization; and
(3) The licensee has obtained authorization
				from the consumer whose nonpublic personal financial information is sought to
				be disclosed.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.13 - DELIVERY

Current through Register Vol. 35, No. 13, July 16, 2024
A.
How to
				provide notices.
A licensee shall provide any notices that this rule
				requires so that each consumer can reasonably be expected to receive actual
				notice in writing or, if the consumer agrees, electronically.
(1)
Examples of reasonable expectation
				of actual notice.
A licensee may reasonably expect that a consumer will
				receive actual notice if the licensee:
(a)
				Hand-delivers a printed copy of the notice to the consumer;
(b) Mails a printed copy of the notice to the
				last known address of the consumer separately, or in a policy, billing or other
				written communication;
(c) For a
				consumer who conducts transactions electronically, posts the notice on the
				electronic site and requires the consumer to acknowledge receipt of the notice
				as a necessary step to obtaining a particular insurance product or service;
				or
(d) For an isolated transaction
				with a consumer, such as the licensee providing an insurance quote or selling
				the consumer travel insurance, posts the notice and requires the consumer to
				acknowledge receipt of the notice as a necessary step to obtaining the
				particular insurance product or service.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.14 - LIMITS ON DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Conditions for disclosure.
Except as otherwise authorized in this rule, a licensee may not, directly or
				through any affiliate, disclose any nonpublic personal health information to
				any party, including affiliates, and may not, directly or through an affiliate,
				disclose any nonpublic personal financial information about a consumer to a
				nonaffiliated third party unless:
(1) The
				licensee has provided to the consumer any initial notice as required under
				13.1.3.8 NMAC regarding nonpublic personal financial information;
(2) The licensee has provided to the consumer
				a notice as required in 13.1.3.11 NMAC; and
(3) An authorization is obtained from the
				consumer whose nonpublic personal information is sought to be
				disclosed.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.15 - LIMITS ON REDISCLOSURE AND REUSE OF NONPUBLIC PERSONAL INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Nonpublic
				personal financial information the licensee receives under an exception.
If a licensee receives nonpublic personal financial information from a
				nonaffiliated financial or other institution under an exception in 13.1.3.18
				NMAC or 13.1.3.19 NMAC, the licensee's disclosure and use of that information
				is limited as follows:
(1) The licensee may
				disclose the information to the affiliates of the financial or other
				institution from which the licensee received the information;
(2) The licensee may disclose the information
				to its affiliates, but the licensee's affiliates may, in turn, disclose and use
				the information only to the extent that the licensee may disclose and use the
				information; and
(3) The licensee
				may disclose and use the information pursuant to an exception in 13.1.3.18 NMAC
				or 13.1.3.19 NMAC, in the ordinary course of business to carry out the activity
				covered by the exception under which the licensee received the
				information.
(4)
Example.
If a licensee receives information from a nonaffiliated
				financial or other institution for claims settlement purposes, the licensee may
				disclose the information for fraud prevention, or in response to a properly
				authorized subpoena. The licensee may not disclose that information to a third
				party for marketing purposes or use that information for its own marketing
				purposes.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.16 - LIMITS ON SHARING ACCOUNT NUMBER INFORMATION FOR MARKETING PURPOSES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
General
				prohibition on disclosure of account numbers.
A licensee shall not,
				directly or through an affiliate, disclose, other than to a consumer reporting
				agency, a policy number or similar form of access number or access code for a
				consumer's policy or transaction account to any nonaffiliated third party for
				use in telemarketing, direct mail marketing or other marketing through
				electronic mail to the consumer.
B.
Exceptions.
Subsection A of 13.1.3.16 NMAC does not apply if a
				licensee discloses a policy number or similar form of access number or access
				code:
(1) To the licensee's service provider
				solely in order to perform marketing for the licensee's own products or
				services, as long as the service provider is not authorized to directly
				initiate charges to the account;
(2) To a licensee who is a producer solely in
				order to perform marketing for the licensee's own products or services;
				or
(3) To a participant in an
				affinity or similar program where the participants in the program are
				identified to the customer when the customer enters into the program.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.17 - EXCEPTION TO AUTHORIZATION REQUIREMENT FOR DISCLOSURE OF NONPUBLIC PERSONAL FINANCIAL INFORMATION FOR SERVICE PROVIDERS AND JOINT MARKETING

Current through Register Vol. 35, No. 13, July 16, 2024
A.
General
				rule.
(1) The notice and authorization
				requirements in 13.1.3.11 NMAC and 13.1.3.14 NMAC do not apply when a licensee
				provides nonpublic personal financial information to a nonaffiliated third
				party to perform services for the licensee or functions on the licensee's
				behalf, if the licensee:
(a) Provides the
				initial notice in accordance with 13.1.3.8 NMAC; and
(b) Enters into a contractual agreement with
				the third party that prohibits the third party from disclosing or using the
				information other than to carry out the purposes for which the licensee
				disclosed the information, including use under an exception in 13.1.3.18 NMAC
				or 13.1.3.19 NMAC in the ordinary course of business to carry out those
				purposes.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.18 - EXCEPTIONS TO NOTICE AND AUTHORIZATION REQUIREMENTS FOR DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION FOR PROCESSING AND SERVICING TRANSACTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Exceptions for processing transactions at consumer's request.
The
				requirements for initial notice in paragraph (2) of subsection A of 13.1.3.8
				NMAC, for notice and authorization in 13.1.3.11 NMAC and 13.1.3.14 NMAC, and
				service providers and joint marketing in 13.1.3.17 NMAC do not apply if the
				licensee discloses nonpublic personal information only to the extent necessary
				to effect, administer or enforce a transaction that a consumer requests or
				authorizes, or in connection with:
(1)
				Servicing or processing an insurance product or service that a consumer
				requests or authorizes;
(2)
				Maintaining or servicing the consumer's account with a licensee, or with
				another entity as part of a private label credit card program or other
				extension of credit on behalf of such entity;
(3) A proposed or actual securitization,
				secondary market sale (including sales of servicing rights) or similar
				transaction related to a transaction of the consumer; or
(4) Reinsurance or stop loss or excess loss
				insurance.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.20 - AUTHORIZATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. A valid
				authorization to disclose nonpublic personal information pursuant to 13.1.3.14
				NMAC shall be in written or electronic form separate from that used for any
				other purpose and shall contain all of the following:
(1) The identity of the consumer or customer
				who is the subject of the nonpublic personal information;
(2) A specific description of the types of
				nonpublic personal information to be disclosed;
(3) Specific descriptions of the parties to
				whom the licensee discloses nonpublic personal information, the purpose of the
				disclosure and how the information will be used;
(4) The signature of the consumer or customer
				who is the subject of the nonpublic personal information or the individual who
				is legally empowered to grant authority and the date signed; and
(5) Notice of the length of time for which
				the authorization is valid and that the consumer or customer may revoke the
				authorization at any time and the procedure for making a revocation.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.21 - AUTHORIZATION REQUEST DELIVERY

Current through Register Vol. 35, No. 13, July 16, 2024
A notice to consumers regarding request for authorization and
				  an authorization form shall be delivered to a consumer pursuant to
				  13.1.3.13
				  NMAC. A notice to consumers regarding request for authorization and an
				  authorization form are not required to be delivered to a consumer or included
				  in any other notices unless the licensee intends to disclose nonpublic personal
				  information pursuant to
				  13.1.3.14
				  NMAC.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.22 - RELATIONSHIP TO FEDERAL RULES

Current through Register Vol. 35, No. 13, July 16, 2024
Irrespective of whether a licensee is subject to the federal
				  Health Insurance Portability and Accountability Act privacy rule as promulgated
				  by the U.S. Department of Health and Human Services (the "federal rule"), if a
				  licensee complies with all requirements of the federal rule except for its
				  effective date provision, the licensee shall not be subject to the provisions
				  of this rule with respect to nonpublic personal health
				  information.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.23 - RELATIONSHIP TO STATE LAWS

Current through Register Vol. 35, No. 13, July 16, 2024
Nothing in this rule shall preempt or supercede existing
				  state law related to medical records, health or insurance information
				  privacy.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.24 - PROTECTION OF FAIR CREDIT REPORTING ACT

Current through Register Vol. 35, No. 13, July 16, 2024
Nothing in this rule shall be construed to modify, limit or
				  supersede the operation of the federal Fair Credit Reporting Act (
				  15 U.S.C.
				  1681 et seq.), and no inference shall be
				  drawn on the basis of the provisions of this rule regarding whether information
				  is transaction or experience information under Section 603 of that
				  Act.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.25 - NONDISCRIMINATION

Current through Register Vol. 35, No. 13, July 16, 2024
A licensee shall not unfairly discriminate against any
				  consumer because that consumer has not granted authorization for the disclosure
				  of his or her nonpublic personal information pursuant to the provisions of this
				  rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.26 - SEVERABILITY

Current through Register Vol. 35, No. 13, July 16, 2024
If any section or portion of a section of this rule or its
				  applicability to any person or circumstance is held invalid by a court, the
				  remainder of the rule or the applicability of the provision to other persons or
				  circumstances shall not be affected.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.27 - TWO-YEAR GRANDFATHERING OF SERVICE AGREEMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
Until December 31, 2002, a contract that a licensee has
				  entered into with a nonaffiliated third party to perform services for the
				  licensee or functions on the licensee's behalf satisfies the provisions of
				  subparagraph (b) of paragraph (1) of subsection A of
				  13.1.3.17
				  NMAC, even if the contract does not include a requirement that the third party
				  maintain the confidentiality of nonpublic personal information, as long as the
				  licensee entered into the agreement on or before December 31,
				  2000.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION › Section 13.1.3.28 - SAMPLE CLAUSES

Current through Register Vol. 35, No. 13, July 16, 2024
Licensees, including a group of financial holding company
				  affiliates that use a common privacy notice, may use the following sample
				  clauses, if the clause is accurate for each institution that uses the notice.
				  (Note that disclosure of certain information, such as assets, income and
				  information from a consumer reporting agency, may give rise to obligations
				  under the federal Fair Credit Reporting Act, such as a requirement to permit a
				  consumer to opt out of disclosures to affiliates or designation as a consumer
				  reporting agency if disclosures are made to nonaffiliated third
				  parties.)
A.
Categories of
				information a licensee collects (all institutions):
A licensee may use
				this clause, as applicable, to meet the requirement of paragraph (1) of
				subsection A of 13.1.3.10 NMAC to describe the categories of nonpublic personal
				information the licensee collects. Sample Clause:
We collect nonpublic personal information about you from the
				  following sources:
Information we receive from you on applications or other
				  forms;
Information about your transactions with us, our affiliates
				  or others; and
Information we receive from a consumer reporting
				  agency.
B.
Categories of information a licensee discloses with consumer authorization
				(institutions that disclose outside of the exceptions):
A licensee may
				use one of these clauses, as applicable, to meet the requirement of paragraph
				(2) of subsection A of 13.1.3.10 NMAC to describe the categories of nonpublic
				personal information the licensee discloses with consumer authorization. The
				licensee may use these clauses if it discloses nonpublic personal information
				other than as permitted by the exceptions in 13.1.3.17 NMAC, 13.1.3.18 NMAC and
				13.1.3.19 NMAC.
(1)
Alternative
				1:
If authorized by you, we may disclose the following kinds of
				  nonpublic personal information about you:
Information we receive from you on applications or other
				  forms, such as [provide illustrative examples, such as "your name, address,
				  social security number, assets, income, and beneficiaries"];
Information about your transactions with us, our affiliates
				  or others, such as [provide illustrative examples, such as "your policy
				  coverage, premiums, and payment history"]; and
Information we receive from a consumer reporting agency, such
				  as [provide illustrative examples, such as "your creditworthiness and credit
				  history"].
(2)
Alternative 2:
If authorized by you, we may disclose all of the information
				  that we collect, as described [describe location in the notice, such as "above"
				  or "below"].
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 4 - PUBLIC RULE HEARINGS › Section 13.1.4.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all proceedings within the New Mexico
				  office of superintendent of insurance in which the superintendent adopts rules
				  pursuant to the State Rules Act, Sections
				  14-4-1 through
				  14-4-11 NMSA 1978 (1967, as
				  amended through 2017).
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 4 - PUBLIC RULE HEARINGS › Section 13.1.4.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  14-4-5.8 NMSA 1978;
				  1.24.25.8 NMAC.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 4 - PUBLIC RULE HEARINGS › Section 13.1.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
To provide procedural rules for public rule hearings for use
				  by the New Mexico office of superintendent of insurance consistent with the
				  State Rules Act and to facilitate public engagement with the superintendent's
				  rulemaking process in a transparent, organized, and fair
				  manner.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 1 - INSURANCE GENERAL PROVISIONS › Part 4 - PUBLIC RULE HEARINGS › Section 13.1.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
This rule adopts the definitions found in Section
				  14-4-2 NMSA 1978 and in
				  13.1.1.7 NMAC. In addition:
A.
"Final order"
also means
				"concise explanatory statement" as described in Section
				14-4-5.5 NMSA 1978;
B.
"Logical outgrowth"
occurs
				when a final rule differs from the proposed rule if interested parties should
				have anticipated that the change was possible, and thus reasonably should have
				filed their comments on the subject during the notice-and-comment
				period;
C.
"OSI"
means
				the New Mexico office of superintendent of insurance
D.
"Recommended decision"
means
				the written decision of any designated hearing officer which contains a
				description of the rulemaking proceeding, a summary of any written comments
				submitted to the superintendent, a summary of any oral comments made at the
				public hearing, any analysis or conclusions of the designated hearing officer,
				and recommendations to the superintendent concerning adoption, rejection, or
				amendment of the proposed rule.