Current through Register Vol. 35, No. 6, March 26, 2024
A.
Reporting by providers. Continuing education providers are
required to report completion of continuing education courses to the
superintendent. However, it is the responsibility of the individual resident
licensee to ensure that the superintendent's records reflect the completion of
the required number of continuing education courses on or before the continuing
education due date. The licensee must correct any discrepancies in the record
through the continuing education provider:
B.
Transition and reporting after July
1, 2017.
(1) All continuing education
courses must be completed and reported prior to renewal of the license.
Licensees who fail to complete the required continuing education courses will
not be permitted to renew the license, which will result in immediate
termination of the license, pursuant to Section 59A-11-10 NMSA 1978.
(2) For individual licensees who were issued
or who renewed a one-year agent, broker, or solicitor license prior to July 1,
2017, the license must be renewed for a biennial insurance producer or bail
bondsmen's license by April 30, 2018. Prior to that renewal, the individual
licensee must have completed 15 hours of continuing education courses,
including at least one hour in ethics, as was required at the time the license
was issued or renewed.
(3) For all
biennial licenses issued after July 1, 2017, the licensee shall renew on the
last day of the second birth month following issue of the license, such that
the initial compliance period shall be no less than thirteen months and no more
than twenty-four months in length. Prior to renewal, licensees shall complete
the required number of continuing education courses, as set forth in Subsection
A of
13.4.7.9
NMAC. The compliance period for completion of continuing education courses is
the period between issue of the license and renewal on or before the last day
of the licensees second birth month following issue.
(4) Thereafter, insurance producer licenses
must be renewed biennially on or before the last day of the licensee's birth
month. Required continuing education courses must be completed and reported
during the compliance period, which is the twenty-four-month period immediately
preceding renewal of the license. In order to allow time for the provider to
report course attendance prior to expiration of the license, students should
plan accordingly in order to avoid payment of penalties.
C.
Fees. A licensee shall submit
all continuing education fees prescribed by Subsection E of Section
59A-12-26
NMSA 1978 to the provider. The provider will then submit the hourly course fee
electronically to the superintendent on behalf of the licensee. Registration
fees are nonrefundable for licensees who fail to attend or fail to successfully
complete a course. Instructions for electronic submittal of fees may be found
on each provider's website and on the OSI website.
D.
Records.
(1) The licensee is responsible for
confirming that all continuing education credits have been correctly recorded
by the provider. The licensee may print a copy of the entire educational
transcript for reference purposes. Instructions for reviewing and printing the
transcript may be found on the OSI website.
(2) It is recommended that all licensees
maintain copies of certificates of completion of approved courses and verified
statements for a period of three years.
(3) Individual continuing education credit
information can be reviewed by the licensee, by the public or by the
superintendent. Instructions for viewing continuing education information may
be found on the OSI website.
(4)
The superintendent shall be notified electronically of any noncompliance with
the continuing education requirements by licensees.
