2021 New Mexico Statutes
Chapter 61 - Professional and Occupational Licenses
Article 27B - Private Investigations
Section 61-27B-24 - Bond required. (Repealed effective July 1, 2024.)

A. A private investigation company shall file with the department a surety bond in the amount of ten thousand dollars ($10,000) executed by a surety company authorized to do business in this state.

B. The owner or the chief executive officer of a private investigation company that provides personal protection or bodyguard services or the owner or the chief executive office of a private patrol company shall maintain a general liability certificate of insurance in an amount required by the department.

C. A surety bond in the amount of ten thousand dollars ($10,000) or a general liability certificate of insurance executed and filed with the department pursuant to the Private Investigations Act shall remain in force until the surety company issuing the bond or the certificate has terminated future indemnity by notice to the department.

History: Laws 1993, ch. 212, § 11; § 61-27A-11 recompiled as § 61-27B-24; Laws 2007, ch. 115, § 24.

Delayed repeal. — For delayed repeal of the section, see 61-27B-36 NMSA 1978.

Recompilations. — For recompilation of this section, see compiler's note following 61-27B-1 NMSA 1978.

The 2007 amendment, effective July 1, 2007, requires a private investigation company to file a surety bond in the amount of $10,000 and to maintain a general liability certificate of insurance in an amount required by the department.

Face amount of bond represents total liability of surety regardless of the number of claims which may be filed against the licensee. 1965 Op. Att'y Gen. No. 65-187.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 51 Am. Jur. 2d Licenses and Permits §§ 48, 49, 55.

53 C.J.S. Licenses § 42.