A. The license issued by the superintendent under Chapter 59A, Article 11 NMSA 1978 shall contain the licensee's name, business address, personal identification number, date of issue, lines of authority, expiration date and any other information the superintendent requires.
B. The license of an insurance producer shall not specify the name of any particular insurer or underwriter's department by which the licensee is appointed, and the licensee may represent as agent under the one license as many insurers or underwriter's departments as may appoint the licensee as agent under the Insurance Code subject to Section 59A-11-13 NMSA 1978 as to certain life or health insurance producers having unsettled debit balances with an insurer previously represented.
C. The license of a business entity shall also record the name of each individual authorized to exercise the license powers. The superintendent may require the names of each individual to be registered with the office of superintendent of insurance.
History: Laws 1984, ch. 127, § 188; 2016, ch. 89, § 15.
ANNOTATIONSCross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
The 2016 amendment, effective July 1, 2017, revised the required contents of an insurance license; in Subsection A, after "superintendent under", deleted "this article" and added "Chapter 59A, Article 11 NMSA 1978", after "shall", deleted "state" and added "contain", after the next "the", added "licensee's", after "name", deleted "of the licensee and residence", after the next comma, added "business", after "address", deleted "if an individual, or business address if a firm or corporation or a place of business is otherwise required of the licensee, the capacity in which the licensee is to act and the kind of business covered", after the next comma, added "personal identification number", after "date of issue", deleted "of license", after the next comma, added "lines of authority, expiration date", after the next "and", deleted "such" and added "any", after "other information", deleted "as", and after "the superintendent", deleted "deems pertinent and consistent with law" and added "requires"; in Subsection B, after "The license of an insurance", deleted "agent" and added "producer", after "licensee is appointed", deleted "except as to certain limited licenses", after "department as may appoint", deleted "him" and added "the licensee", after "subject to Section", deleted "192 of this article" and added "59A-11-13 NMSA 1978", and after "health insurance", deleted "agents" and added "producers"; deleted Subsection C and redesignated former Subsection D as new Subsection C; in Subsection C, after "The license of a", deleted "firm or corporation" and added "business entity", after "shall also", deleted "state, or", after "record", deleted "by endorsement attached thereto", after "license powers", deleted "At the superintendent's discretion the name of such an" and added "The superintendent may require the names of each", after individual", deleted "may" and added "to", after "registered with the", added "office of superintendent of", and after "insurance", deleted "department in lieu of shown endorsed on the license"; and deleted Subsection E.
Severability. — Laws 2016, ch. 89, § 71 provided that if any part or application of Laws 2016, ch. 89 is held invalid, the remainder or its application to other situations or persons shall not be affected.