2016 New Mexico Statutes
Chapter 59A - Insurance Code
Article 12 - Insurance Agents, Brokers and Solicitors
Section 59A-12-12 - General qualifications for individual agent, broker or solicitor license.

59A-12-12. General qualifications for individual agent, broker or solicitor license.

For the protection of the public in New Mexico, the superintendent shall not issue, continue or permit to exist a license to an individual as agent, broker or solicitor except as to an individual qualified as follows:

A. must be eighteen years of age or older;

B. must have passed any examination required for licensing;

C. must be competent, trustworthy and financially responsible;

D. if for license as an agent, must be appointed as an agent by an authorized insurer, subject to issuance of a license;

E. if for license as a solicitor, must be employed as a solicitor by a licensed agent, subject to issuance of the license; and

F. must be in compliance with other applicable qualifications and requirements of the Insurance Code.

History: Laws 1984, ch. 127, 213; 1999, ch. 272, 8; 1999, ch. 289, 9.

59A-12-12. Application and general qualifications for individual insurance producer license. (Effective July 1, 2017.)

A. An individual applying for a resident insurance producer license shall apply to the superintendent on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the applicant's knowledge and belief.

B. Before approving the application, the superintendent shall:

(1) confirm that the applicant:

(a) is at least eighteen years of age;

(b) has not committed any act that is a ground for denial, suspension or revocation under the Insurance Code;

(c) has paid the fees set forth in Section 59A-6-1 NMSA 1978;

(d) has successfully passed the examinations for the lines of authority for which the application is made, if such examination is required; and

(e) is in compliance with other applicable qualifications and requirements of the Insurance Code;

(2) review the applicant's answers to the standard background questions on the uniform application;

(3) obtain the applicant's fingerprints; and

(4) conduct state and federal criminal background checks on the applicant.

C. The superintendent may require any documents reasonably necessary to verify the information contained in an application. The superintendent may obtain fingerprints from licensed resident insurance producers from whom fingerprints were not obtained at the time of application or when adding additional lines of authority to their license.

D. Each insurer that sells, solicits or negotiates any form of limited line credit insurance shall provide to each individual whose duties will include selling, soliciting or negotiating limited line credit insurance a program of instruction approved by the superintendent.

History: Laws 1984, ch. 127, 213; 1999, ch. 272, 8; 1999, ch. 289, 9; 1978 Comp., 59A-12-2, repealed and reenacted by Laws 2016, ch. 89, 31.