Current through Register Vol. 35, No. 18, September 24, 2024
A.
Applicants for a nonresident broker's license shall file with the
superintendent a stipulation which shall recite the name of the applicant, the
nonresident broker's license applied for, and shall agree:
(1) "That in any action or special
proceedings brought against (me) or (us) in the state of New Mexico for and on
account of any action lawfully permitted to be done or performed by (me) or
(us) solely by reasons of the existence of the nonresident broker's license,
any documents or process may be served on the superintendent of insurance with
the same effect as those served upon (me) or (us) and this service will give
jurisdiction of either (me) or (us) to the same extent as if (I) or (we) were a
resident of the state of New Mexico."
(2) "That any action or special proceedings
brought by (me) or (us) against the superintendent of insurance of the state of
New Mexico will be brought in the county of Santa Fe."
(3) "That (I) or (we) will appear at the
office of the superintendent of insurance in the city of Santa Fe, New Mexico
at any time, pursuant to notice of hearing, order to show cause or subpoena
issued by the superintendent of insurance, or these documents deposited in the
United States mail, certified and postage prepaid, in a cover addressed to (me)
or (us) at the last address filed by (me) or (us) with the superintendent of
insurance; this deposit in the mail being thirty or more days before the date
specified in the documents for appearance and that in the event of failure so
to appear (I) or (we) hereby consent to any subsequent suspension, revocation,
refusal to renew or denial of the nonresident broker's license by the
superintendent of insurance."
B. This stipulation and the agreement shall
give jurisdiction over and shall be binding pursuant to its terms upon the
person executing it.
C. Whenever
any documents are served on the superintendent pursuant to the terms of this
stipulation and agreement, the superintendent shall transmit a copy to the
respective nonresident broker licensee or former nonresident broker licensee by
depositing it in the United States mail, certified and postage prepaid, in a
cover addressed to the person on behalf of whom the superintendent was served.
This deposit shall be made within ten days of service on the superintendent and
service will be complete as to the person at the end of sixty days after
service of the superintendent.
