New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 11 - SECURITIES
Part 2 - BROKER-DEALERS AND AGENTS
Section 12.11.2.19 - FIDELITY BONDS

Universal Citation: 12 NM Admin Code 12.11.2.19

Current through Register Vol. 35, No. 18, September 24, 2024

A. Every broker-dealer shall file with the director a surety bond in the amount set by the director, with a minimum of $100,000 and a maximum of $1,000,000, except as provided in Subsections B and C of 12.11.2.19 NMAC. The bond shall comply with the requirements of Subsection E of Section 411of the New Mexico Uniform Securities Act.

B. Broker-dealers who are members of the securities investor protection corporation will not be required to file the surety bond.

C. Broker-dealers who do not have custody of customer funds or securities will not be required to file the surety bond.

D. Issuer agents shall file with the director a surety bond in the amount set by the director, with a minimum of $10,000 and a maximum of $100,000.

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