2015 New Mexico Statutes
Chapter 59A - Insurance Code
Section 12 Insurance Agents, Brokers and Solicitors
Section 59A-12-17 Scope of license.
59A-12-17. Scope of license.
A. Except as to limited licenses identified in Section 59A-12-18 NMSA 1978 and Section 3 [59A-12-18.1 NMSA 1978] of this 2013 act, an agent's or broker's license shall cover the kind of insurance, or major subdivisions of life or health insurance, for which the applicant has applied and qualified, including the following:
(1) life insurance, or any or all of the following subdivisions thereof:
(a) industrial life insurance;
(b) debit insurance;
(c) credit life insurance; or
(d) variable annuity contracts;
(2) health insurance, credit health insurance or industrial health insurance, or other subdivisions thereof;
(3) property insurance;
(4) casualty insurance;
(5) surety insurance;
(6) marine and transportation insurance;
(7) vehicle insurance; or
(8) title insurance.
B. The scope of a solicitor's license is subject to Section 59A-12-14 NMSA 1978.
C. License of a broker shall cover the kind or kinds of insurance applied and qualified for, within the classifications stated in Subsection A of this section.
D. A licensee as to variable annuities or similar contracts deemed to constitute also securities, shall also possess license as a security salesman under other applicable state laws.
History: Laws 1984, ch. 127, 218; 1999, ch. 272, 11; 1999, ch. 289, 12; 2013, ch. 140, 1.
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