2015 New Mexico Statutes
Chapter 59A - Insurance Code
Section 11 Licensing Procedures, Agents, Solicitors, Brokers, Adjusters and Others
Section 59A-11-12 Appointment of agents; continuation.
59A-11-12. Appointment of agents; continuation.
A. Each insurer or other principal appointing an agent in this state shall file with the superintendent a written appointment specifying the name and address of the appointee and the kinds of insurance or business to be transacted by the agent and pay the appointment fee, or license fee, as the case may be, as specified in Section 101 [59A-6-1 NMSA 1978] (fee schedule) of the Insurance Code.
B. Subject to continuation by the insurer or principal as provided in Section 189 [59A-11-10 NMSA 1978] of this article, each appointment shall remain in effect until the agent's license is revoked or otherwise terminated, or there is earlier termination of the appointment.
C. Not later than thirty (30) days prior to date set under this article for continuation of appointments of agents, the insurer or other principal shall file with the superintendent an alphabetical list of all its agents in this state whose appointments or licenses are continued as to kinds of insurance or business then covered by the appointments or licenses, together with payment of the applicable continuation fees specified in Section 101 (fee schedule) of the Insurance Code. At the same time the insurer or principal shall file with the superintendent an alphabetical list of all appointments or licenses not being continued, or to be modified as to kinds of insurance or business to be transacted, with payment of applicable continuation fees as to appointments or licenses being so modified. Any appointment or license not so continued and not otherwise expressly terminated shall be deemed to have expired at midnight on date specified therefor under Section 189 of this article, or pursuant to the superintendent's regulations as provided in Section 190 [59A-11-11 NMSA 1978] of this article.
History: Laws 1984, ch. 127, 191.
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