N.M. Admin. Code § 13.4.4.8

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

Section 13.4.4.8 - [Effective 4/1/2025] LICENSING REQUIREMENTS

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 payment in advance to the superintendent of the fees prescribed in Section 59A-6-1 NMSA 1978.

B. On or before the first day of March of each year, OSI will mail a billing statement for renewal of the surplus lines broker license to each surplus lines broker licensed in New Mexico.

C. On or before the first day of April of each year, the surplus lines broker shall return the billing statement together with the license renewal fee specified in Section 59A-6-1 NMSA 1978.

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 surplus lines broker, unless the person has the written consent of the superintendent.

N.M. Admin. Code § 13.4.4.8

7/1/97; Recompiled 11/30/01, Adopted by New Mexico Register, Volume XXXV, Issue 23, December 10, 2024, eff. 4/1/2025