New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS
Part 2 - RESIDENT PRODUCERS AND OTHER RESIDENT LICENSES
Section 13.4.2.20 - LICENSING OF FRATERNAL BENEFIT SOCIETY PRODUCERS
Universal Citation: 13 NM Admin Code 13.4.2.20
Current through Register Vol. 35, No. 18, September 24, 2024
A. License required. Individuals shall be licensed as producers as described in 13.4.2.9 NMAC and business entities shall be licensed as producers as described in 13.4.2.10 NMAC, except as follows:
(1) Fraternal
benefit society producers are not required to fulfill the continuing education
requirements set forth in 13.4.7 NMAC.
(2) Fraternal benefit society producers may
be exempt from the qualifying examination requirements of
13.4.7.11
NMAC if they do not receive commissions or compensation based on sales as set
forth in Subsection B of Section
59A-44-33
NMSA 1978.
B. Continuation, suspension, revocation and termination of licenses. General provisions pertaining to the continuation, suspension, revocation and termination of producer licenses shall also apply to licenses issued to fraternal benefit society producers as set forth in 13.4.2.27 and 13.4.2.28 NMAC.
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