N.M. Admin. Code § 13.4.3.9

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.4.3.9 - [Effective until 4/1/2025] REQUIRED STIPULATION

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."

B. This stipulation and the agreement shall give jurisdiction over and shall be binding pursuant to its terms upon the person executing it.

C. Whenever any documents are served on the superintendent pursuant to the terms of this stipulation and agreement, the superintendent shall transmit a copy to the respective nonresident broker licensee or former nonresident broker licensee by depositing it in the United States mail, certified and postage prepaid, in a cover addressed to the person on behalf of whom the superintendent was served. This deposit shall be made within ten days of service on the superintendent and service will be complete as to the person at the end of sixty days after service of the superintendent.

N.M. Admin. Code § 13.4.3.9

7/1/97; Recompiled 11/30/01