reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 2 - RESIDENT PRODUCERS AND OTHER RESIDENT LICENSES › Section 13.4.2.28 - DENIAL, SUSPENSION, REVOCATION OR CANCELLATION OF LICENSES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Effects of
				suspension.
While a license is suspended, the licensee shall not engage
				in any transaction for which the license is required, other than receipt and
				remittance of premiums paid for insurance or other business that was transacted
				by the licensee while the license was active.
B.
Reasons for probation, suspension,
				revocation or refusal to continue license.
(1) The superintendent may take necessary
				action based on information obtained via the NAIC attachment warehouse personal
				information capture system alerts or other appropriate mechanisms used to
				monitor actions against existing licensees.
(2) It shall be the duty of the
				superintendent to cancel a license if the superintendent is satisfied that:
(a) a licensee obtained the license by
				willful misrepresentation or fraud;
(b) a licensee obtained the license chiefly
				for the purpose of writing insurance on the licensee's own life, property or
				liability, or on the lives, property or liability of the licensee's
				associates;
(c) a licensee is not
				complying with all state and federal laws and regulations relating to
				insurance; or
(d) the interests of
				the insured or the public are not being properly served under the
				license.
(3) The
				superintendent may place on probation, suspend, revoke or refuse to issue or
				renew a license for any of the reasons set forth in in Section
				59A-11-14
				NMSA 1978.
(4) A business entity's
				license may be suspended, revoked or refused if the superintendent finds after
				hearing that an individual licensee's violation was known or should have been
				known by one or more of the partners, officers or managers acting on behalf of
				the partnership or corporation, the violation was not reported to the
				superintendent and no corrective action was taken.
(5) A rental car insurance producer's license
				may be revoked or suspended following a hearing by the superintendent for a
				violation by the producer or the producer's endorsees of the Rental Car
				Insurance Limited Producer License Act set forth at Section
				59A-32A-8 NMSA 1978.
				The superintendent may also impose penalties or suspend a transaction of
				insurance at specific rental locations where such a violation has
				occurred.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 2 - RESIDENT PRODUCERS AND OTHER RESIDENT LICENSES › Section 13.4.2.29 - APPOINTMENTS AND CANCELLATION OF PRODUCER CONTRACTS

Current through Register Vol. 35, No. 13, July 16, 2024
A license itself does not create any authority, actual,
				  apparent, or inherent in the licensee to represent or commit an insurer.
A.
Appointment of insurance
				producers.
(1) An insurance producer
				shall not act as an insurance producer on behalf of an insurer unless the
				insurance producer becomes an appointed insurance producer of that insurer. An
				insurance producer who is not acting on behalf of an insurer is not required to
				become appointed.
(2) An insurer
				shall appoint a producer using the online electronic application or as
				otherwise directed by the superintendent.
(a)
				The appointment shall be filed within 15 days from the date that the agency
				agreement is executed or when the first insurance application is submitted by
				the insurance producer on behalf of the insurer.
(b) An insurer may appoint an insurance
				producer to all or some insurers within the insurer's holding company system or
				group by the filing of a single appointment.
(c) An insurer shall pay the filing
				appointment fee set forth in Paragraph (3) of Subsection E of Section
				59A-6-1 NMSA 1978
				for each insurance producer the insurer appoints, but may contract for
				reimbursement of the fee by agreement with the producer.
(3) In the event of a merger between two or
				more insurers, appointments of producers by any of the insurers absorbed by the
				merger will continue with the resulting insurer.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 2 - RESIDENT PRODUCERS AND OTHER RESIDENT LICENSES › Section 13.4.2.30 - SUPERINTENDENT'S LICENSING RECORDS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The superintendent shall keep a record of:
(1) each licensee's name, address, date of
				license, kind of business transacted and qualifications;
(2) the name of the principal or insurer
				represented; and
(3) all
				cancellations, suspensions or revocations of a license and notifications
				submitted by an insurer to the superintendent that pertain to a
				licensee.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.1 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all persons seeking licensure as a
				  nonresident agent or nonresident broker.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.5 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to implement Chapter 59A Article
				  12, NMSA 1978, by establishing requirements for obtaining a license as a
				  nonresident agent or nonresident broker.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purpose of this rule:
A.
"Nonresident agent"
has the
				meaning given in Section 59A-12-2 NMSA 1978.
B.
"Nonresident broker"
has the
				meaning given in Section 59A-12-3 NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.8 - LICENSING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
The superintendent may issue a license as a nonresident
				  broker, or as a nonresident agent for life and health insurance only, to a
				  person who maintains a bona fide continuous residence and a chief place of
				  business within the continental limits of the United States, but not within the
				  state of New Mexico, and who is licensed to engage in the business of insurance
				  outside of New Mexico, under the following conditions:
A. Applicants shall pay in advance to the
				superintendent the fees prescribed in Section 59A-6-1 NMSA 1978.
B. Applicants shall file with the
				superintendent the stipulation required by 13 nmac 4.3.9 [now 13.4.3.9
				NMAC].
C. Notwithstanding the
				conditions required under this rule, a nonresident broker shall be subject to
				retaliatory or reciprocal requirements, or both, with respect to any taxes,
				fines, penalties, licenses or fees in addition to or in excess of that imposed
				by the laws of this state upon nonresident brokers in New Mexico doing business
				in another state, or whenever any conditions precedent to the right to do
				business in another state are imposed by its laws beyond those imposed upon
				nonresident brokers by the laws of New Mexico, the same taxes, fines,
				penalties, licenses or fees and conditions precedent shall be imposed upon
				every similar nonresident broker in another state doing or applying to do
				business in New Mexico so long as the governing laws remain in force; and upon
				the failure of a nonresident broker to comply, the superintendent shall revoke
				the license in New Mexico, or shall refuse to grant a license or certificate in
				the first instance.
D. Pursuant to
				18
				U.S.C. Section 1033, no person who has been
				convicted of a felony involving dishonesty or a breach of trust may be licensed
				as a nonresident agent or a nonresident broker, unless the person has the
				written consent of the superintendent.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 3 - NONRESIDENT AGENTS AND BROKERS › Section 13.4.3.9 - REQUIRED STIPULATION

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Applicants for a nonresident broker's license shall file with the
				superintendent a stipulation which shall recite the name of the applicant, the
				nonresident broker's license applied for, and shall agree:
(1) "That in any action or special
				proceedings brought against (me) or (us) in the state of New Mexico for and on
				account of any action lawfully permitted to be done or performed by (me) or
				(us) solely by reasons of the existence of the nonresident broker's license,
				any documents or process may be served on the superintendent of insurance with
				the same effect as those served upon (me) or (us) and this service will give
				jurisdiction of either (me) or (us) to the same extent as if (I) or (we) were a
				resident of the state of New Mexico."
(2) "That any action or special proceedings
				brought by (me) or (us) against the superintendent of insurance of the state of
				New Mexico will be brought in the county of Santa Fe."
(3) "That (I) or (we) will appear at the
				office of the superintendent of insurance in the city of Santa Fe, New Mexico
				at any time, pursuant to notice of hearing, order to show cause or subpoena
				issued by the superintendent of insurance, or these documents deposited in the
				United States mail, certified and postage prepaid, in a cover addressed to (me)
				or (us) at the last address filed by (me) or (us) with the superintendent of
				insurance; this deposit in the mail being thirty or more days before the date
				specified in the documents for appearance and that in the event of failure so
				to appear (I) or (we) hereby consent to any subsequent suspension, revocation,
				refusal to renew or denial of the nonresident broker's license by the
				superintendent of insurance."
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.1 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.5 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to implement Chapter 59A Article
				  14 NMSA 1978 by establishing requirements for obtaining a license as a surplus
				  lines broker.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purpose of this rule,
surplus lines
				  broker
has the meaning given in Section 59A-14-2 NMSA
				  1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.8 - LICENSING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. An
				applicant requesting a license as a surplus lines broker shall file, as part of
				the application, a bond as required by this rule. The application for a surplus
				lines broker will be considered for issuance by the superintendent upon the
				following conditions:
(1) the payment in
				advance to the superintendent of the fees prescribed in section 59A-6-1 NMSA
				1978; and
(2) delivery to the
				superintendent of a bond to the state of New Mexico in the amount specified in
				Section 59A-14-8 NMSA 1978 issued by a licensed surety insurer, conditioned
				that the licensee will fully and faithfully comply with the requirements of
				this rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 4 - SURPLUS LINES BROKERS › Section 13.4.4.9 - REQUIRED EXPERIENCE, TRAINING AND EDUCATION

Current through Register Vol. 35, No. 13, July 16, 2024
To meet the requirements of Section 59A-14-7 NMSA 1978, an
				  applicant for a surplus lines broker license shall file, as part of the
				  application, documentation showing a combination of the following factors
				  totaling at least five years:
A.
				experience as a licensed agent in the kind of insurance for which the surplus
				lines broker license is sought;
B.
				continuing education units of a type and quantity sufficient to satisfy the
				requirements for renewal of an agent's license; and
C. any other special experience, education or
				training that the applicant offers to demonstrate that the applicant is
				reasonably competent to conduct surplus lines business in New Mexico.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.1 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all administrators who provide
				  administrative services in connection with insurance or alternatives to
				  insurance or who, in a fiduciary capacity or otherwise, manage or handle funds,
				  money, premiums, fees or other forms of consideration in connection with
				  insurance or alternatives to insurance. This rule also applies to the claims
				  practices of insurers or alternatives to insurance, whether or not they are
				  administered by a third party.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections 59A-2-9 and 59A-12A-1 through 59A-12A-17 NMSA
				  1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
February 1, 1992, unless a later date is cited at the end of
				  a section or paragraph. Repromulgated in NMAC format effective July 1,
				  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 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to provide criteria and
				  procedures applicable to the licensure and conduct of insurance administrators
				  and to govern the practice of insurance administration.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule, all terms defined in Section 59A-12A-2
				  NMSA 1978 shall have the meanings ascribed therein.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.8 - LICENSING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				superintendent will issue, renew and permit to exist any license of an
				insurance administrator to a person qualified as follows:
(1) an applicant shall be at least 18 years
				of age;
(2) a resident applicant
				shall have been a resident of the state of New Mexico for at least thirty (30)
				days immediately preceding the filing of the application;
(3) a nonresident applicant may apply for a
				license while maintaining its bona fide continuous residence and chief place of
				business within the continental limits of the United States, but not within the
				state of New Mexico, and may engage in the business of insurance administration
				outside of New Mexico; and
(4) the
				applicant shall complete and file an application and shall successfully pass a
				personal written examination to determine that the applicant has sufficient
				knowledge and reasonable familiarity with the insurance laws of New Mexico and
				with the provisions, terms and conditions of the insurance business to be
				transacted under the license sought, and that the applicant has a general and
				fair understanding of the obligations and duties of an insurance
				administrator.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.9 - INDIVIDUAL APPLICATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Application by an individual for an insurance administrator's license shall be
				filed with the superintendent on forms prescribed and furnished by the
				superintendent and accompanied by applicable fees as set out in this
				regulation. The application shall be signed by the applicant under oath if
				required by the form. The application form may require information about
				applicant as to:
(1) name, date of birth,
				social security number, residence, business address if applicable, and length
				of time a resident of New Mexico, if applicable;
(2) personal history and business experience
				in general for at least the five-year period immediately preceding the date of
				the application;
(3) experience or
				special training or education in the kind of business to be transacted under
				the license applied for;
(4)
				previous licensing;
(5) type of
				license applied for and kinds of insurance or transactions to be covered
				thereby;
(6) proof of applicant's
				identity; and
(7) such other
				pertinent information and matters as the superintendent may reasonably
				require.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.11 - EXCEPTIONS TO LICENSURE REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. An administrator is not required to hold a
				certificate of authority as an administrator in this state if all of the
				following conditions are met:
(1) the
				administrator has its principal place of business in another state;
(2) the administrator is not soliciting
				business as an administrator in this state; and
(3) in the case of any group policy or plan
				of insurance serviced by the administrator, the lesser of five percent (5%) or
				one hundred (100) certificate holders reside in this state.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.12 - EXAMINATION OF APPLICANTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Examinations for insurance administrator licenses shall be arranged through the
				agents licensing division of the new mexico department of insurance and
				conducted according to the provisions of Section 59A-11-6 NMSA 1978 as
				amended.
B. Individual applicants,
				corporate officers, managers and employees who will exercise license powers and
				general partners and partnership employees who will exercise license powers
				shall be required to complete and successfully pass a written examination as
				herein provided.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.13 - EXEMPTIONS FROM EXAMINATION REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. No such examination will be required of an
				applicant for continuation or renewal of an existing insurance administrator's
				license.
B. In his discretion, the
				superintendent may waive the examination requirement for insurance
				administrators who were operating in New Mexico prior to June 16, 1989, the
				effective date of Chapter 59A, Article 12A NMSA 1978 pursuant to Section
				59A-12A-3B NMSA 1978.
C. Upon
				request from an applicant, the superintendent may waive the examination
				requirement if the applicant holds a valid certificate of authority as an
				administrator issued in a state which the superintendent has determined has
				standards for administrators that are at least as stringent as those contained
				in the model statute for third party administrators of the national association
				of insurance commissioners.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.14 - FEES

Current through Register Vol. 35, No. 13, July 16, 2024
Every insurance administrator transacting business in the
				  state of New Mexico shall pay to the superintendent of insurance the following
				  nonrefundable fees:
A. filing
				application for original insurance administrator license issued to a person as
				defined in this regulation, $50.00;
B. filing application for original insurance
				administrator license issued to each officer and each manager exercising
				license powers of a licensed corporation and each partner exercising license
				powers in a licensed partnership, $50.00;
C. continuation or renewal of license, each
				year, $23.00;
D. examination for
				license conducted directly by superintendent, and payable as to each instance
				of examination, $50.00;
E. for each
				request for a duplicate license and for each name change, $30.00;
F. for each annual report filed, $50.00;
				and
G. for each seal and signature
				affixed to any instrument, $10.00.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.15 - ANNUAL CONTINUATION OF LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Licenses issued shall continue until the
				first day of March of the following year unless previously canceled by the
				licensee on a form prescribed by and filed with the superintendent.
B. Each insurance administrator licensed to
				transact business in the state of New Mexico shall continue the license
				previously issued by paying a continuation or renewal fee therefor on or before
				March 1 of each calendar year.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.16 - SCOPE OF LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The license
				issued by the superintendent under these regulations shall state the name of
				the licensee and residence address if an individual, or business address if a
				partnership or corporation or a place of business is otherwise required of the
				licensee, the capacity in which the licensee is to act and the kind of business
				covered, date of issuance of license, and such other information as the
				superintendent deems pertinent and consistent with law.
B. Any license issued under this regulation
				entitles the licensee to act for one or more authorized insurers, eligible
				surplus lines insurers, plans or persons that self insure without being
				required to obtain a separate license with respect to each insurer, surplus
				lines insurer, plan or person that self insures.
C. The license of a partnership or
				corporation shall also state, or record by endorsement attached thereto, the
				name of each individual authorized to exercise the license powers. At the
				superintendent's discretion the name of such an individual may be registered
				with the insurance department in lieu of being shown or endorsed on the
				license.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.17 - CANCELLATION AND SURRENDER OF LICENSES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Whenever a partnership or corporation
				licensed as an insurance administrator shall discharge any licensed insurance
				administrator from its employ, the discharging licensee shall immediately
				notify the superintendent on a form prescribed by him and request cancellation
				of the license existing in the name of the discharged licensee. In order to
				perform services as an administrator, the discharged licensee shall be required
				to reapply for an administrator's license, and may be reinstated under a new
				administrator within six months of termination without re-examination by
				payment of a new initial fee.
B.
				All licenses issued to natural persons terminate upon the death of such
				persons.
C. All licenses issued to
				legal entities terminate upon legal dissolution of such entities.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.18 - REVOCATION OF LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Grounds:
In the event that the superintendent is satisfied that
				any insurance administrator obtained a license by willful misrepresentation or
				fraud, or that the licensee has not complied with the insurance laws of the
				state of New Mexico, or that the interests of the insureds or the public are
				not being properly served under the license, it shall be the duty of the
				superintendent to revoke the administrator's license.
B.
Hearing:
Any person aggrieved
				by any action, threatened action, or failure to act of the superintendent shall
				have the same right to a hearing before the superintendent with respect thereto
				as provided for in general under Section 59A-4-15 NMSA 1978. Notice of hearing
				shall be given, the hearing conducted, rights and powers exercised, and the
				superintendent's order on hearing made and given as provided as to hearings in
				general under the applicable provisions of Chapter 59A, Article 4 NMSA
				1978.
C.
Review:
Any
				person aggrieved by the superintendent's order on such hearing, or by the
				superintendent's refusal to hold the hearing, may request a review thereof
				under the applicable provision of Chapter 59A, Article 4 NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.19 - ANNUAL REPORTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Each
				administrator shall file an annual report for the preceding calendar year with
				the superintendent on or before March 1 of each year, or within such extension
				of time therefor as the superintendent for good cause may grant. The report
				shall be in the form and contain such matters as the superintendent prescribes
				and shall be verified by at least two (2) officers or two (2) partners of the
				administrator, if applicable.
B.
				The annual report shall include the complete names and addresses of all
				insurers with which the administrator had an agreement during the preceding
				fiscal year. If requested in writing by the administrator, the names and
				addresses of the insureds may be kept confidential by the
				superintendent.
C. At the time of
				filing its annual report, the administrator shall pay a filing fee as required
				by this regulation.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.20 - WRITTEN AGREEMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The
				written agreement between the administrator and insurer required by Section
				59A-12A NMSA 1978 -4 shall include a statement of duties which the
				administrator is expected to perform on behalf of the insurer and the lines,
				classes or types of insurance for which the administrator is to be authorized
				to administer. The agreement shall make provisions with respect to underwriting
				or other standards pertaining to the business underwritten by such
				insurer.
B. The insurer or
				administrator may upon written notice, terminate the written agreement for
				cause as provided in the agreement. The insurer may suspend the underwriting
				authority of the administrator during the pendency of any dispute regarding the
				cause for termination of the written agreement. The insurer must fulfill any
				lawful obligations with respect to policies or claims affected by the written
				agreement, regardless of any dispute between the insurer and the
				administrator.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.21 - COMPENSATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. An insurance
				carrier, plan, person that self insures, or third-party administrator doing
				business in this state shall not pay, directly or indirectly, any compensation
				or fee or any further consideration of value to any insurance administrator for
				service as an administrator within this state, unless the administrator is duly
				licensed to transact such business in the state of New Mexico.
B. The prohibition contained in the preceding
				paragraph does not prevent the payment or receipt of vested renewal or other
				deferred commissions or fees to or by any person solely because that
				administrator has ceased to hold a valid license.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 5 - INSURANCE ADMINISTRATORS › Section 13.4.5.22 - RESPONSIBILITIES OF THE INSURER

Current through Register Vol. 35, No. 13, July 16, 2024
A. If
				an insurer utilizes the services of an administrator, the insurer shall be
				responsible for determining the benefits, premium rates, underwriting criteria
				and claims payment procedures applicable to such coverage and for securing
				reinsurance, if any. The rules pertaining to these matters must be provided, in
				writing, by the insurer to the administrator. The responsibilities of the
				administrator as to any of these matters shall be set forth in the written
				agreement between the administrator and the insurer.
B. It is the ultimate responsibility of the
				insurer to provide for competent administration of its programs.
C. In cases where an administrator
				administers benefits for more than one hundred (100) certificate holders on
				behalf of an insurer, the insurer shall maintain for a minimum of at least
				three years any reviews conducted of the operations of the administrator, and
				shall produce the records pertaining to the review at the request of the
				superintendent.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.1 - 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 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all persons who are required to have a
				  license issued by the superintendent before engaging in the business of
				  insurance.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 23, 1995, unless a later date is cited at the end of
				  a section or paragraph. Repromulgated in NMAC format effective July 1,
				  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 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to implement the requirements of
				  the Parental Responsibility Act, Sections
				  40-5A-1 to
				  40-5A-13
				  NMSA 1978, as they apply to the issuance, renewal, suspension or revocation of
				  any license issued by the superintendent of insurance.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
All terms defined in the Parental Responsibility Act shall
				  have the same meanings in this rule.
A.
"HSD"
means the New Mexico
				human services department.
B.
"Judgment and order for support"
means the judgment entered
				against an obligor by the district court or a tribal court in a case brought by
				the HSD pursuant to Title IV-D of the Social Security Act.
C.
"License"
means a license,
				certificate, registration or permit issued by the superintendent or department
				that a person is required to have to engage in the business of insurance in New
				Mexico.
D.
"Statement of
				compliance"
means a certified statement from HSD stating that an
				applicant or licensee is in compliance with a judgment and order for
				support.
E.
"Statement of
				non-compliance"
means a certified statement from HSD stating that an
				applicant or licensee is not in compliance with a judgment and order for
				support.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.8 - SANCTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
If an applicant or licensee is not in compliance with a
				  judgment and order for support, the superintendent shall:
A. deny an application for a license as
				provided in 13 nmac 4.6.10 [now 13.4.6.10 NMAC] of this rule; or
B. deny license renewal by disapproving the
				continuation of agent appointments as provided in 13 nmac 4.6.10 [now 13.4.6.10
				NMAC] of this rule; or
C. commence
				revocation of a license as provided in 13 nmac 4.6.10 and 4.6.11 [now 13.4.6.10
				NMAC and 13.4.6.11 NMAC] of this rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.9 - CERTIFIED LIST

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Receipt of certified list from HSD:
Upon receipt of HSD's
				certified list of obligors not in compliance with a judgment and order for
				support, the superintendent shall match the certified list of obligors against
				the current list of licensees and applicants. By the end of the month in which
				the certified list of obligors is received, the superintendent shall report to
				HSD the names of the applicants and licensees who are on the certified list of
				obligors and the action the superintendent has taken in connection with such
				applicants and licensees.
B.
Receipt of application:
Upon the later receipt of an application
				for license or renewal, the superintendent shall match the applicant against
				the current certified list.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.10 - INITIAL ACTION

Current through Register Vol. 35, No. 13, July 16, 2024
A. Upon
				determination that an applicant or licensee appears on HSD's certified list,
				the superintendent shall notify the applicant or licensee by letter that the
				applicant or licensee must provide the superintendent with a subsequent
				statement of compliance within 30 days of mailing the notification.
B. The notice letter to applicants shall
				advise that failure to timely provide the statement of compliance shall
				automatically, without any further notice to the applicant, necessitate the
				superintendent's rejection of the application and that such rejection
				constitutes grounds for applicants to request a hearing before the
				superintendent pursuant to Section 59A-4-15 NMSA 1978.
C. The notice letter to licensees shall
				advise that failure to timely provide the statement of compliance shall result
				in commencement of a formal proceeding for license revocation under 13 nmac
				4.6.11 [now 13.4.6.11 NMAC] of this rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.11 - PROCEEDING TO REVOKE LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
The superintendent shall file and serve upon the licensee a
				  notice and order of license revocation, in accordance with the procedures
				  listed in 13 nmac 4.6.14 [now
				  13.4.6.14
				  NMAC] of this rule. If the revocation is due solely to the licensee's failure
				  to comply with a judgment and order for support, and there are no additional
				  grounds due to violations of the Insurance Code, the notice and order of
				  revocation shall state:
A. the grounds
				for the superintendent's proposed action; and
B. that the superintendent's action to revoke
				will become final and not subject to review or appeal ninety days after mailing
				the notice and order unless, on or before the ninety day deadline, the
				respondent licensee:
(1) files a request for
				hearing in the docket briefly stating the respects in which the applicant is so
				aggrieved, the relief to be sought and the grounds to be relied upon as a basis
				for relief; or
(2) provides the
				superintendent with a statement of compliance.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.12 - EVIDENCE AND PROOF

Current through Register Vol. 35, No. 13, July 16, 2024
In any hearing under 13 nmac 4.6.11 [now
				  13.4.6.11
				  NMAC] of this rule, relevant evidence is limited to the accuracy or veracity of
				  the statement of non-compliance. The statement of non-compliance is conclusive
				  evidence requiring the superintendent to take the revocation action under 13
				  nmac 4.6.11 [now
				  13.4.6.11
				  NMAC] of this rule.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.13 - ORDER

Current through Register Vol. 35, No. 13, July 16, 2024
When an action to revoke a license is taken by the
				  superintendent solely because the licensee is not in compliance with a judgment
				  and order for support, the final order shall state that the respondent may
				  reapply for licensure at any time upon presentation of a subsequent statement
				  of compliance filed with and verified by the superintendent.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 6 - PARENTAL RESPONSIBILITY › Section 13.4.6.14 - PROCEDURES

Current through Register Vol. 35, No. 13, July 16, 2024
Proceedings under this rule shall be governed by Sections
				  59A-4-15 through 59A-4-18 NMSA 1978, as amended; provided, however, that all
				  denial actions for license applications and renewals and all license
				  revocations for bail bondsmen and bail bondsmen solicitors are governed by the
				  Uniform Licensing Act, Sections
				  61-1-1
				  through
				  61-1-31
				  NMSA 1978, as amended.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
A. This rule
				applies to all licensed adjusters, insurance producers, limited surety agents,
				bail bond solicitors, property bondsmen, and nonresident insurance producers
				unless exempted by Subsection B of this section.
B. The continuing education requirements of
				this rule shall not apply to:
(1) holders of
				limited licenses issued pursuant to Section
				59A-12-18 NMSA
				1978;
(2) licensees who have been
				continuously licensed by the superintendent for 25 years or more, without a
				lapse of more than 90 days;
(3)
				persons who maintain a license solely for the purpose of receiving renewal fee
				residuals and who do not otherwise transact the business of
				insurance;
(4) agents of fraternal
				benefit societies licensed pursuant to Section
				59A-44-33
				NMSA 1978; or
(5) nonresident
				insurance licensees who are licensed in another state or country that requires
				completion of continuing education courses.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  59A-2-9,
				  59A-6-1,
				  59A-11-10,
				  59A-11-23,
				  59A-12-16,
				  59A-12-26,
				  59A-13-12,
				  59A-44-33,
				  59A-51-4.1
				  NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to set forth continuing education
				  requirements for persons who are licensed by the superintendent to transact
				  business in this state and for continuing education
				  providers.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule:
A.
"adjuster"
means a resident
				or non-resident public adjuster, staff adjuster or independent adjuster as
				defined in Section
				59A-13-2 NMSA
				1978;
B.
"approved
				course"
means a course of instruction approved by the committee as
				satisfying the continuing education requirements of this rule or that has been
				previously approved by another state with which New Mexico has reciprocal
				privileges and that has been submitted by the provider and approved by the
				committee;
C.
"bail
				bondsman"
has the same definition as in Subsection A of Section
				59A-51-2 NMSA
				1978;
D.
"biennially"
means every two years or during the 24 months next preceding expiration of the
				current license;
E.
"committee"
means OSI's continuing education committee;
F.
"compliance period"
means the
				time period between the issue date or last renewal date of the license to the
				expiration date of the license for purposes of satisfying the continuation
				requirements;
G.
"credit
				hour"
means 50 minutes of actual instruction or self-study time in an
				approved course;
H.
"ethics
				course"
means a course that deals with usage and customs among members
				of the insurance profession, involving moral and professional conduct and
				fiduciary obligations and duties toward one another, toward clients, toward
				insureds, and toward insurers and of responsible insurance agency
				management;
I.
"insurance
				producer"
means a person required to be licensed under the laws of the
				state of New Mexico to sell, solicit or negotiate insurance;
J.
"licensee"
means an adjuster,
				insurance producer, limited surety agent, bail bond solicitor, property
				bondsman or nonresident insurance producer within the scope of this
				rule;
K.
"limited surety
				agent"
has the same definition as in Subsection C of Section
				59A-51-2 NMSA
				1978;
L.
"nonresident
				licensee"
means a person licensed in this state pursuant to Section
				59A-11-23 NMSA
				1978;
M.
"property
				bondsman"
has the same definition as in Subsection D of Section
				59A-51-2 NMSA
				1978;
N.
"provider"
means a person who is authorized by the superintendent to provide approved
				continuing education courses for licensees and report licensee attendance for
				credit toward continuing education requirements;
O.
"roster"
is an official list
				of licensees who have successfully completed an offering of an approved
				course;
P.
"solicitor"
has the same definition as in Subsection E of Section
				59A-51-2 NMSA 1978;
				and
Q.
"superintendent"
means the superintendent of insurance, the office
				of superintendent of insurance or employees of the office of superintendent of
				insurance acting within the scope of the superintendent's official duties and
				with the superintendent's authorization.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.8 - INSURANCE CONTINUING EDUCATION COMMITTEE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The superintendent shall appoint an
				insurance continuing education committee that shall serve at the
				superintendent's pleasure. The committee shall be a volunteer committee and
				shall not be entitled to per diem or other reimbursement or
				remuneration.
B. The committee
				shall approve individual courses of instruction for continuing education
				credit, notify the superintendent of approved courses as they are approved,
				make recommendations regarding continuing education courses and perform other
				tasks assigned by the superintendent.
C. The committee shall not approve any
				continuing education course that does not provide a method by which a provider
				can assure that a licensee has completed the course.