Current through Register Vol. 35, No. 6, March 26, 2024
A.
Hours required biennially.
(1)
All licensees must complete a minimum of three hours of credits in ethics
during each compliance period. Ethics credit hours may be included toward the
total credit hour requirement for each license type.
(2) Title insurance licensees shall complete
ten credit hours of approved courses covering title insurance. At least three
credit hours must specifically cover the proper handling of escrow funds. These
three hours can also be used to satisfy the requirement for three credit hours
in ethics.
(3) Limited surety
agents, property bondsmen, solicitors and bail bond solicitors shall complete
14 hours of approved courses covering the Bail Bondsmen Licensing Law, Sections
59A-51-1 et seq. NMSA
1978 and related regulations during each two-year compliance period.
(4) All other licensees shall complete 24
credit hours of approved courses covering some or all of the kinds of insurance
for which they are licensed during each compliance period. Licensees who
transact insurance under multiple lines of authority are only required to
satisfy a single 24 hour continuing education requirement for each compliance
period.
(5) Adjusters who are
licensed prior to July 1, 2017 must satisfy continuing education credits prior
to renewal of licenses beginning with the first biennial renewal cycle
occurring after April 30, 2018.
(6)
Non-resident licensees are not required to complete New Mexico's continuing
education requirements if the home state requires continuing education and the
licensee has complied with the continuing education requirements of the home
state, pursuant to the provisions of Section
59A-11-23 NMSA 1978.
However, if a non-resident licensee fails to complete the required continuing
education courses in the home state, the New Mexico nonresident license shall
also be cancelled.
B.
No carryover. No licensee may carry over credit hours earned in a
compliance period to the next compliance period.
C.
No duplicate credit. No
additional credit will be granted to a licensee for completion of the same
approved course more than once in any compliance period.
D.
Course completion date.
Course credits are applied to licensing requirements based on the date that the
course is taken, rather than on the date that the course credit is reported by
the provider.
E.
Course
approval. Licensees shall receive course credit only for courses that
have been approved by the committee prior to enrollment in the
course.
F.
Extensions.
Licensees who meet the criteria of illness, medical disability, military
deployment or circumstances beyond the control of the licensee may apply for an
extension of time to complete their continuing education requirement or a
waiver, in whole or in part, of the continuing education requirement.
(1) The superintendent shall establish the
duration of the extension when it is granted.
(2) If the circumstances supporting the
extension continue beyond the granted extension period, the licensee may
reapply for an extension.
(3) The
licensee must request the extension prior to the end of the compliance period
for which it applies, using the form available on the OSI website.
(4) Licensees called to active military
service in a combat theater, may apply for an exemption from or an extension of
time for meeting the continuing education requirements or extending their
license renewal. The licensee must request the extension or waiver prior to the
end of the compliance period, using the form available on the OSI
website.
G.
Reinstating a discontinued license. A licensee whose license is
discontinued shall complete all required continuing education credits before
submitting an application for reinstatement. If the license is discontinued for
longer than a single biennial compliance period, the licensee must complete 24
hours of continuing education credits in addition to all credits necessary to
renew the license. Instead of completing the required continuing education
courses, the licensee may choose to retake the qualifying
examination.
