2016 New Mexico Statutes
Chapter 59A - Insurance Code
Article 12 - Insurance Agents, Brokers and Solicitors
Section 59A-12-6 - License required; penalty. (Repealed effective July 1, 2017.)
59A-12-6. License required; penalty. (Repealed effective July 1, 2017.)
A. No person shall in this state be, act as or make any representation as being, as to subjects of insurance resident, located or to be performed in this state or elsewhere, an agent or solicitor unless then licensed as such under the Insurance Code [59A-1-1 NMSA 1978].
B. No authorized insurer shall accept insurance of a subject located, resident or to be performed in this state through a person acting as insurance agent in this state if the insurer knows, or reasonably should have known, that such person was not then licensed as an agent as to the insurance or not appointed as its agent by the insurer.
C. No license as agent or broker shall be issued to an entity other than an individual, firm (partnership) or corporation.
D. No agent or solicitor shall solicit or take an application for, or place for others, any kind of insurance as to which not then so licensed.
E. No agent shall place any insurance with an insurer as to which not then licensed or appointed as agent under the Insurance Code, except as permitted by Section 59A-11-10 NMSA 1978.
F. A license as agent or solicitor, or appointment as agent of a particular insurer, shall not be in effect until the license has actually been delivered to the agent or solicitor or to the solicitor's employer agent or the appointment has been duly filed with and approved by the superintendent.
G. In addition to any applicable denial, suspension or revocation of license, refusal to continue license, or administrative fine, violation of this section shall be a misdemeanor punishable by a fine of from one hundred dollars ($100) to five hundred dollars ($500) and by forfeiture to the state of New Mexico of an amount equal to all compensation for services as agent or solicitor received or to be received by the violator by reason of the prohibited transactions.
History: Laws 1984, ch. 127, 207; 2003, ch. 202, 6; 2007, ch. 282, 6.
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