New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 11 - SECURITIES
Part 1 - GENERAL PROVISIONS
Section 12.11.1.12 - ADMINISTRATIVE PROCEDURE
Current through Register Vol. 35, No. 18, September 24, 2024
A. Application of rule. These rules govern proceedings conducted pursuant to Section 58-13C-604 B of the New Mexico Uniform Securities Act.
B. Service. Service of subpoenas, notices of intent, summary orders, notices of opportunity for hearing and final orders shall be made either:
C. Administrative conferences.
D. Motions. Any motion made prior to the commencement of any hearing must be made in writing to the director. Motions other than those for an extension of time or for additional discovery must be accompanied by a memorandum of law and served on the opposing party. Motions shall be a maximum of ten pages in length. The director may, at the director's sole discretion, rule without a hearing upon any procedural or discovery motion not disposing of the merits of the proceeding. All motions not specifically acted upon by the director shall be deemed denied upon the filing of the final order of the director in the proceeding.
E. Discovery. Parties may, by motion to the director, request reasonable discovery in addition to those procedures granted in Section 58-13C-604 B(8). The director may, at the director's sole discretion, grant or deny further discovery, or impose such limitations or conditions on discovery as may be necessary in the interests of economy and expeditious decision making. Parties are encouraged to seek agreement on the scope of discovery before presenting a motion for additional discovery to the director.
F. Venue. All hearings conducted pursuant to Section 58-13C-604 B shall be conducted in the offices of the securities division or other convenient place within Santa Fe county. The director may, at the director's discretion, hold the hearing in another county of this state upon a finding that good cause exists to do so.
G. Evidence. In a proceeding held pursuant to Section 58-13C-604 B, the formal rules of evidence do not apply and the director or hearing officer may admit any evidence and may give probative effect to evidence that is of a kind commonly relied on by reasonably prudent people in the conduct of serious affairs.
H. Findings of fact and conclusions of law. The director or hearing officer may require all parties of record to file proposed findings of fact, conclusions of law or final orders at the close of the hearing.
I. Costs on appeal. The party seeking review pursuant to Section 58-13C-609 shall pay all costs of appeal, including the expenses of preparation of the record and transcript.
J. Default orders.