2019 New Mexico Statutes
Chapter 59A - Insurance Code
Article 62 - elf-Service Storage Insurance License
Section 59A-62-3 - Self-service storage insurance producer license.

A. The superintendent may issue a self-service storage insurance producer license to an applicant who is qualified to solicit or sell self-service storage insurance.

B. An owner shall not sell, solicit or offer self-service storage insurance unless the owner has complied with the requirements of the Self-Service Storage Insurance License Act and has been issued a self-service storage insurance producer license by the superintendent.

C. A self-service storage insurance producer license authorizes the licensee and its employees and authorized representatives to sell, solicit and offer self-service storage insurance to occupants at any self-service storage facility at which the owner conducts business.

D. Self-service storage insurance producers shall be licensed pursuant to Article 11 of the Insurance Code.

E. An owner is not required to be licensed as a self-service storage insurance producer solely to display and make available to occupants and prospective occupants brochures and other promotional materials created by or on behalf of an insurer, if the owner and its unlicensed employees and authorized representatives do not sell, solicit or offer self-service storage insurance.

F. A licensee pursuant to this section may provide self-service storage insurance under an individual policy or under a commercial, corporate, group or master policy.

G. An owner shall not:

(1) require an occupant to purchase insurance offered by the owner as a requirement to lease storage space at a self-service storage facility; or

(2) advertise, represent or otherwise hold the owner's self out as a self-service storage insurance producer unless licensed pursuant to the Self-Service Storage Insurance License Act.

History: Laws 2019, ch. 219, § 3.

Effective dates. — Laws 2019, ch. 219, § 14 made Laws 2019, ch. 219 effective July 1, 2019.