2016 New Mexico Statutes
Chapter 59A - Insurance Code
Article 12 - Insurance Agents, Brokers and Solicitors
Section 59A-12-21 - Records of general lines agent.

59A-12-21. Records of general lines agent.

A. Every general lines agent shall keep in his place of business referred to in Section 221 [59A-12-20 NMSA 1978] of this article, complete records of transactions under his license and those of his solicitors. The record shall show, for each insurance policy placed by or through the licensee, not less than the names of the insurer and insured, the number and expiration date of, and premium payable as to, the policy, the names of all other persons from whom business is accepted or to whom commissions are promised or paid, all premiums collected and such additional information as the superintendent may reasonably require.

B. The records shall be open to the superintendent's examination, and the superintendent may at any reasonable time require the licensee to furnish, in such manner or form as the superintendent may require, any information kept or required to be kept in such records.

C. Records as to a particular policy may be destroyed on expiration of three (3) years after the policy's expiration.

D. This section does not apply to life insurance, annuity contracts or health insurance.

History: Laws 1984, ch. 127, 222.

59A-12-21. Records of insurance producer. (Effective July 1, 2017.)

A. Every insurance producer shall keep in the insurance producer's place of business complete records of transactions under the license. The record shall show the following information for each insurance policy placed by or through the licensee:

(1) the names of the insurer and insured;

(2) the number and expiration date of each policy;

(3) the premium payable for each policy;

(4) the names of all other persons from whom business is accepted or to whom commissions are promised or paid;

(5) all premiums collected; and

(6) any additional information the superintendent may require.

B. The records shall be open to the superintendent's examination, and the superintendent may at any reasonable time require the licensee to furnish, in the manner or form that the superintendent may require, any information kept or required to be kept in such records.

C. Records as to a particular policy may be destroyed on expiration of three years after the policy's expiration.

History: Laws 1984, ch. 127, 222; 2016, ch. 89, 40.