Surety bond required

An escrow company shall obtain a surety bond in the minimum amount of one hundred thousand dollars ($100,000) running to the people of the state of New Mexico, which bond shall be executed and acknowledged by a corporation that is licensed by the superintendent of insurance to transact the business of fidelity and surety insurance. The bonds shall be in a form acceptable to the director and shall be filed in the director's office. History: Laws 1983, ch. 135, § 10; 1986, ch. 21, § 1; 1987, ch. 120, § 1; 1990, ch. 47, § 1; 2015, ch. 135, § 4.