The responsibilities and authority of the director under the Escrow Company Act are hereby explicitly exempted from the authority of the superintendent of regulation and licensing as set forth in Subsection B of Section 9-16-6 NMSA 1978.
History: Laws 1983, ch. 135, § 30; 2015, ch. 135, § 8.
ANNOTATIONSThe 2015 amendment, effective July 1, 2015, provided that the director of the financial institutions division is exempt from the authority of the superintendent of regulation and licensing; in the catchline, after "authority of", deleted "secretary of commerce and industry" and added "superintendent of regulation and licensing"; at the beginning of the sentence, after "authority of the director", deleted "of the financial institutions division", after "authority of the", deleted "secretary of commerce and industry" and added "superintendent of regulation and licensing", and after "Section", deleted "9-2-5" and added "9-16-6".
Temporary provisions. — Laws 2015, ch. 135, § 9 provided that an escrow company licensed pursuant to the Escrow Company Act that, prior to the effective date of Laws 2015, ch. 135, §§ 1 to 8 (July 1, 2015), was not required to file a surety or other bond with the director of the financial institutions division of the regulation and licensing department shall have until January 1, 2016 to comply with the provisions of Section 58-22-10 NMSA 1978.