Registration requirements

A. A provider who wishes to issue, sell or offer for sale service contracts in this state must submit to the superintendent: (1) a registration application on a form prescribed by the superintendent; (2) proof that the provider has complied with the requirements for security pursuant to Section 59A-58-6 NMSA 1978; (3) the name, address and telephone number of each administrator with whom the provider intends to contract, if any; and (4) provided that House Bill 248 of the first session of the fifty-fifth legislature: (a) becomes law, the registration renewal fee provided in Section 59A-6-1 NMSA 1978; or (b) does not become law, a fee of five hundred dollars ($500). B. A provider's registration is valid for one year after the date the registration is filed. A provider may renew the provider's registration if, before the registration expires, the provider submits to the superintendent an application on a form prescribed by the superintendent and, provided that House Bill 248 of the first session of the fifty-fifth legislature: (1) becomes law, the registration renewal fee provided in Section 59A-6-1 NMSA 1978; or (2) does not become law, a fee of five hundred dollars ($500). C. The provisions of this section shall not apply to major manufacturing companies' service contracts. D. Service contract forms are not required to be filed with the superintendent. History: Laws 2001, ch. 206, § 5; 2017, ch. 125, § 4; 2021, ch. 108, § 36.