Current through Register Vol. 35, No. 18, September 24, 2024
A.
Continuation and nonrenewal of
adjuster's licenses. Unless the license is canceled, revoked, suspended
or otherwise terminated, an adjuster's license is continuous, subject to
payment by the due date of renewal fees as set forth in Section 59A-6-1 NMSA
1978, and for individual licensees, compliance with the continuing education
requirements set forth in 13.4.7 NMAC.
(1)
For resident licenses issued to individuals:
(a) Biennial renewal fees shall be paid on or
before the last day of the second occurrence of the individual's birth month
following issuance of the license.
(b) Continuing education requirements shall
be satisfied during the 24 months immediately preceding the renewal date of the
license. Additional information pertaining to continuing education requirements
is set forth at 13.4.7 NMAC.
(c) An
individual who is unable to comply with license renewal requirements due to
military service, disability or other extenuating circumstance may request a
waiver using forms available on the OSI website or as otherwise directed by the
superintendent. An adjuster in such circumstances may also request a waiver of
a fine or sanction imposed for failure to comply with renewal
procedures.
(d) If the
superintendent has reason to believe that the competence of any individual
licensee is in question, the superintendent may require as a condition of
continuation of the license that the individual licensee take and pass the
written examination that is required for new applicants for the same
license.
(e) If an adjuster's
license has been expired for one year or more, the adjuster applicant must
submit to reexamination. Reexamination must be completed within the 12 months
preceding the application.
(2) For licenses issued to business entities:
(a) Business entity licenses shall renew and
continue on a biennial basis on March 1 of the biennial year, subject to
payment of fees as set forth in Section 59A-6-1 NMSA 1978.
(b) Business entity affiliations shall renew
and continue on an annual basis on March 1 of every year, subject to payment of
fees pursuant to Section 59A-6-1 NMSA 1978.
(3) For nonresident licenses issued to
individuals:
(a) As a condition of the
continuation of a nonresident adjuster's license, the licensee shall maintain a
resident adjuster's license of the same type in the adjuster's home state or
designated home state.
(b) The
licensee shall pay the biennial renewal fees on or before the last day of the
second occurrence of the individual's birth month following issuance of the
license.
(c) If the licensee's home
state requires continuing education substantially equivalent to that of this
state as set forth in 13.4.7 NMAC for renewal of the adjuster's license and the
licensee has satisfied the continuing education requirements of the home state,
then the licensee may renew the nonresident adjuster's license in this state
with evidence that the licensee is compliant with the continuing education
requirement of the home state.
(d)
If the home state does not require continuing education, the nonresident
license cannot be renewed until the licensee:
(i) completes the hours required for renewal
of the New Mexico resident license by completing courses offered by a
continuing education provider that have been approved by the continuing
education committee in this state, or
(ii) completes equivalent continuing
education requirements for license renewal for a state that the licensee has
designated as the home state; and
(iii) uploads the certificates of completion
electronically or as otherwise directed by the superintendent.
B.
Reasons for suspension, revocation or refusal to continue license.
The superintendent may suspend, revoke, or refuse to issue or renew an
adjuster's license or may levy a fine or penalty or any combination of the
above actions for any one or more of the following causes:
(1) providing incorrect, misleading,
incomplete or materially untrue information in the license
application;
(2) violating any
insurance laws, regulations, subpoena or order of the superintendent or of
another state's insurance commissioner, including engaging in any unfair trade
practices or fraud;
(3) obtaining
or attempting to obtain a license through misrepresentation or fraud;
(4) improperly withholding, misappropriating,
or converting any monies or properties received in the course of doing
insurance business;
(5)
intentionally misrepresenting the terms of an actual or proposed insurance
contract or settlement offer;
(6)
committing an illegal act that is a ground for license denial, suspension or
revocation under the Insurance Code;
(7) using fraudulent, coercive or dishonest
practices, or demonstrating incompetence, untrustworthiness or financial
irresponsibility, in the conduct of insurance business in this state or
elsewhere;
(8) having an insurance
or adjuster's license probated, suspended, revoked or refused in any other
state;
(9) forging another's name
to any document related to an insurance transaction;
(10) cheating, including improperly using
notes or any other reference material, to complete an examination for an
adjuster's license;
(11) failing to
comply with an administrative or court order imposing a child support
obligation; or
(12) termination or
cancelation of evidence of financial responsibility, as set forth in 13.4.8.11
NMAC.
C.
Termination of licenses.
(1)
Adjuster's licenses are subject to termination for any of the reasons set forth
in Subsection B of
13.4.2.27
NMAC.
(2) If a nonresident
adjuster's license is terminated by the home state or designated home state for
any reason, the nonresident adjuster's license shall terminate immediately,
unless the termination is due to the adjuster being issued a resident
adjuster's license in a new home state. If there is a change in the home state,
then the notice of change must include both the previous and current addresses.
If the new home state does not have reciprocity with this state, the
nonresident adjuster's license shall terminate.
D.
Effects of suspension. While
a license is suspended, the licensee shall not engage in any transaction for
which the license is required, other than transfer of business that was
transacted by the licensee while the license was active.
E.
Application for license after
suspension, denial of application, or revocation of license. Adjuster's
licenses are subject to the provisions for reinstatement as set forth in
Subsection C of
13.4.2.27
NMAC.
(1) An adjuster whose license is
suspended by the superintendent may apply for a new license only after the
expiration of the period of suspension.
(2) In the event that the action by the
superintendent is to revoke or deny application for licensure or refuse renewal
of an existing license, the superintendent shall notify the applicant or
licensee in writing, advising of the reason for the refusal. The applicant or
licensee may request a hearing to be held within 30 days.
(3) Paragraph (2) of this subsection does not
apply to an applicant whose license application was denied for failure by the
applicant to:
(a) pass the required written
examination; or
(b) submit a
properly completed license application.
F.
Action against business
entities. The license of a business entity may be probated, suspended,
revoked, or refused if the superintendent finds, after a hearing, that its
designated individual licensee's violation occurred while acting on behalf of
or representing the business entity and that the violation was known or should
have been known by one or more of the business entity's partners, officers or
managers and that the violation was neither reported to the superintendent nor
was corrective action taken.
G.
Disciplinary proceeding for conduct committed before surrender or
forfeiture of license. The superintendent shall retain the authority to
enforce the provisions of and impose any penalty or remedy authorized by the
Insurance Code against any person who is under investigation for or charged
with a violation of this regulation even if the person's license has been
surrendered or has expired by operation of law.
(1) The superintendent may institute a
disciplinary proceeding against a former licensee for conduct that the licensee
committed before the effective date of a voluntary surrender or automatic
forfeiture of the license.
(2) In a
proceeding under this section, the fact that the license holder has surrendered
or forfeited the license does not affect the license holder's culpability for
the conduct.
