New Mexico Administrative Code

A. Revocability of proxy: State whether or not the person giving the proxy has the power to revoke it. If the right of revocation before the proxy is exercised is limited, or is subject to compliance with any formal procedure, briefly describe such limitation or procedure. B. Dis…

This rule is applicable to each domestic stock insurer which has any class of equity security held of record by 300 or more persons, or any director, officer or employee of such insurer, or any other person; provided, however, that this rule shall not apply to any insurer if nine…

A. Issuer: State the name and address of the issuer. B. Identity and background: State the following: (1) Your name and business address. (2) Your present principal occupation or employment and the name, principal business and address of any corporation or other organization in w…

A. Note: Where any section, other than 13 NMAC 3.4.21.6 [now Subsection F of 13.3.4.21 NMAC], calls for information with respect to any matter to be acted upon at the meeting, such section need be answered only with respect to proposals to be made by the issuer. B. Information re…

Section 59A-2-9 NMSA 1978.

Permanent.

July 1, 1997, unless a later date is cited at the end of a section or paragraph.

The purpose of this rule is to implement Chapter 59A, Article 34 NMSA 1978 by establishing the requirements for solicitation of proxies, consents or authorizations for equity securities by domestic stock insurers covered by this rule.

The following definitions apply unless the context otherwise requires: A. Affiliate, or a person affiliated with a specified person, means a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the…

A. No domestic stock insurer or any director, officer or employee of such insurer, or any other person covered by this rule shall solicit, or permit the use of his name to solicit, by mail or otherwise, any proxy, consent or authorization in respect to any such class of equity se…

13 nmac 3.4.16 [now 13.3.4.16 NMAC] rule shall apply to every solicitation that is subject to 13 nmac 3.4.8 [now 13.3.4.8 NMAC]. 13 nmac 3.4.7 through 13 nmac 3.4.15 and 13 nmac 3.4.17 [now 13.3.4.7 through 13.3.4.15 and 13.3.4.17 NMAC] shall apply to every solicitation that is s…

New Mexico State Corporation Commission [Public Regulation Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM 87504-1269.

If an insurance security would qualify for registration by notification pursuant to Section 58-13-5 A NMSA 1978 if it were not exempt from that provision pursuant to Section 58-13-29 C(3) NMSA 1978, it may be registered by notification with the superintendent. A. Information requ…

Any insurance security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering may be registered by coordination. A. Information required: A registration statement for registration by coordination shall contain the f…

Any insurance security may be registered by qualification. A. Information required: A registration statement filed under this section shall contain the following information: (1) the issuer's and any significant subsidiary's name, address and form of organization, the state or fo…

Any insurer not presently holding a certificate of authority to transact insurance in the state of New Mexico shall not sell or offer to sell in the state its securities unless in addition to the registration requirements it provides to the superintendent of insurance proof that …

Any document filed with the superintendent of insurance under the Sale of Insurance Securities Law within five (5) years preceding the filing of a registration statement may be incorporated by reference in the new registration statement to the extent that the document is currentl…

Each registration statement submitted for filing with the superintendent shall be accompanied by a check or money order for the proper amount of registration fee pursuant to Section 59A-35-9 NMSA 1978. Failure to include the fee with the registration statement shall render the re…

The par value of each capital stock insurer organized under the laws of the state of New Mexico shall be stated in the articles of incorporation and shall be not less than five dollars ($5.00) per share.

This rule applies to sale or offer in this state of any insurance security issued or proposed to be issued by any corporation or person whether or not organized under the laws of this state or authorized to transact business in this state. This rule does not apply to the extent i…

Section 59A-2-9 NMSA 1978, and the Sale of Insurance Securities Law, Section 59A-35-1 NMSA 1978 et seq.

Permanent.

December 1, 1985, unless a later date is cited at the end of a section or paragraph. Repromulgated in NMAC format effective July 1, 1997.

The purpose of this rule is to set out requirements and methods for registration of insurance securities.

To the extent applicable to securities of insurance companies, all definitions relating to general securities set forth in the New Mexico Securities Act and the New Mexico Blue Sky Regulations promulgated by the New Mexico securities bureau shall apply to the sale of insurance se…

All insurance securities required to be registered under the Sale of Insurance Securities Law shall be registered with and shall be filed with the superintendent of insurance in the manner provided in these regulations.

All filings for registration of insurance securities of newly-formed proposed insurers or entities shall include the disclosure of the information required pursuant to Section 59A-35-8 NMSA 1978.

New Mexico State Corporation Commission [Public Regulation Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM 87504-1269.

This rule applies to any person who solicits subscription to or purchase of any securities covered by a securities permit issued under the Sale of Insurance Securities Law. This rule does not apply to the extent its provisions are preempted by the Capital Markets Efficiency Act o…

Section 59A-35-1 NMSA 1978 et seq. and Section 59A-2-9 NMSA 1978.

Permanent.

December 1, 1985, unless a later date is cited at the end of a section or paragraph. Repromulgated in NMAC format effective July 1, 1997.

The purpose of this rule is to establish requirements for licensure of persons selling securities of newly formed or proposed new domestic insurers.

To the extent applicable to securities of insurance companies, all definitions relating to general securities set forth in the New Mexico Securities Act and the New Mexico Blue Sky Regulations promulgated by the New Mexico securities bureau shall apply to the sale of insurance se…

A. If a person is a securities broker-dealer registered as such under the Securities Exchange Act of 1934, as amended, the superintendent shall issue to the person an insurance securities salesperson license upon receipt by the superintendent of proof of such registration. B. If …

All persons seeking an insurance securities salesperson license from the superintendent must forward the appropriate fees pursuant to Section 59A-6-1 NMSA 1978 with their request for the license.

Office of Superintendent of Insurance (OSI).

A. General requirements. A business entity acting as an insurance producer is required to obtain an insurance producer license pursuant to Sections 59A-11-3 NMSA 1978 and 59A-12-15 NMSA (1) When licensing of a business entity is required, the application shall be filed by the bus…

A. Applications requiring examination. (1) Individuals applying for the following types of resident licenses shall take and pass the examination required for issuance of the license by the superintendent: (a) insurance producer - producer examination; (b) independent, public or s…

A. Payment of commissions and compensation. (1) An insurance company or insurance producer shall not pay to a person, nor shall a person accept a commission, service fee, brokerage or other valuable consideration for selling, soliciting or negotiating insurance in this state unle…

A. License required. (1) Title agents and escrow officers shall be licensed as title insurance producers. In addition to the requirements in this section, they shall also comply with additional requirements set forth in Section 59A-30-1 et seq. NMSA 1978 and in 13.14.1 through 13…

A. License required. (1) All applicants for travel insurance producer licenses shall comply with the provisions of 13.4.2.9 NMAC for individual producers or 13.4.2.10 NMAC for business entities. (2) Upon licensure, the travel insurance producer shall create a register with inform…

A. License required. (1) No rental car company nor its officers, director, employees or agents shall offer, sell, bind, effect, solicit or negotiate the purchase of rental car insurance unless that company is licensed as an insurance producer pursuant to Section 59A-32A-1 et seq.…

A. Registration required. No individual shall represent a motor club in this state unless that person is registered with the superintendent by a motor club holding a current certificate of authority issued pursuant to Section 59A-5-1 NMSA 1978. B. Qualifications for registration.…

A. License and appointment required. No person shall solicit membership in a prepaid dental plan unless that person has been licensed by the superintendent as a health insurance producer and appointed by the prepaid dental plan organization to act in this state on the plan's beha…

A. License required. Any person engaged in the sale of prearranged funeral plans shall be licensed by the superintendent as a life insurance producer. Individuals shall be licensed as producers as described in 13.4.2.9 NMAC and business entities shall be licensed as producers as …

This rule applies to persons seeking licensure to engage in insurance-related activities as defined in Articles 1 and 7 of Chapter 59A NMSA 1978 and who shall be licensed pursuant to articles of the Insurance Code.

A. License required. Individuals shall be licensed as producers as described in 13.4.2.9 NMAC and business entities shall be licensed as producers as described in 13.4.2.10 NMAC, except as follows: (1) Fraternal benefit society producers are not required to fulfill the continuing…

A. License required. A vendor of portable electronics shall not sell or offer insurance covering portable electronics unless licensed as a limited lines producer in accordance with Subsection B of Section 59A-12-18 NMSA.(1) A vendor's application shall identify an individual empl…