2017 New Mexico Statutes
Chapter 59A - Insurance Code
Article 11A - Insurance Consultants
Section 59A-11A-7 - Payment from insurers or insurance producers for sale of insurance prohibited; penalty.
59A-11A-7. Payment from insurers or insurance producers for sale of insurance prohibited; penalty.
A. No insurance consultant serving any person, firm, association, organization or corporation not engaged in the insurance business, for compensation paid or to be paid by the person served, shall directly or indirectly receive any part of any commission or compensation paid by any insurer or insurance producer of any insurer in connection with the sale or writing of any insurance that is within the subject matter of any such service.
B. Any person who violates any provision of Subsection A of this section is guilty of a misdemeanor and upon conviction shall be punished by a fine of not more than five hundred dollars ($500) or by imprisonment in the county jail for a definite term of not less than thirty days or more than ninety days or both.
History: Laws 1989, ch. 97, 7; 2016, ch. 89, 24.
