2006 New Mexico Statutes - 58-13B-44 — Administration of act.

58-13B-44. Administration of act.

A.     The New Mexico Securities Act of 1986 [Chapter 58, Article 13B NMSA 1978] shall be administered by the director.  The director shall be appointed by the superintendent of regulation and licensing subject to confirmation by the senate.  He shall be chosen solely on the basis of fitness to perform the duties of the office and shall have a minimum of five years' experience in the financial or securities field at the time of his appointment.  The division is a division of the regulation and licensing department under the supervision and control of the superintendent of regulation and licensing, subject, however, to the exemptions set forth in Section 9-16-11 NMSA 1978.  The director shall, with the approval of the superintendent of regulation and licensing, hire under the Personnel Act and assign duties to employees necessary to assist him in his duties.   

B.     The director may by rule impose fees as necessary for examination, claims of exemptions, requests for advisory opinions and other miscellaneous filings for which no fees are specified elsewhere in the New Mexico Securities Act of 1986 [Chapter 58, Article 13B NMSA 1978] and may also require payment of administrative assessments including reasonable costs of investigation resulting from enforcement actions taken pursuant to Sections 58-13B-36 through 58-13B-38 NMSA 1978.   

C.     All fees collected by the director shall be paid to the state treasurer for deposit and transfer as provided in Section 9-16-14 NMSA 1978.