N.M. Admin. Code § 15.1.10.48

Current through Register Vol. 35, No. 23, December 10, 2024

Section 15.1.10.48 - VARIANCE REQUEST

A. Any licensee may seek a variance of any provision of the board rules or minimum internal control standards. The licensee shall submit the request in writing to the board's legal division on a form provided by the Board.

B. The variance request shall include:

(1) the licensee's name;

(2) the licensee's license number;

(3) the licensee's address;

(4) the specific section of the rules or minimum internal control standards for which the variance is being sought; and

(5) a specific basis for the request, including an explanation of any business justification for the request and a showing of how the variance request is in the public interest.

C. If the board determines that the variance request is in the public interest, it shall grant the variance in writing within 60 days. If the board or its designee determines that the variance request is not in the public interest, it shall deny the request in writing within 60 days. Failure of the board to respond in writing to the request shall be deemed a denial of the request.

D. The board shall not grant a variance for any provision of the act or any provision of the rules or minimum internal controls that is mandated by the act.

E. Any variance granted shall be for a specific period of time. A variance that is granted without specifying a time period shall expire upon expiration of the license.

F. Upon expiration of the variance, the licensee may submit a request for renewal of a variance using the variance request form. A renewal request shall be considered on the same basis as a new request, without any presumption that the request should be renewed.

N.M. Admin. Code § 15.1.10.48

Adopted by New Mexico Register, Volume XXVI, Issue 19, October 15, 2015, eff. 10/15/2015, Adopted by New Mexico Register, Volume XXVII, Issue 02, January 29, 2016, eff. 1/29/2016