Section 59A-62-10 – Fiduciary funds.
A. Self-service storage insurance producers billing and collecting charges shall comply with the fiduciary requirements set forth in Section 59A-12-22 NMSA 1978, except that, pursuant to Paragraph (1) of Subsection B of Section 59A-12-22 NMSA 1978, the self-service storage insurance producer may remit received premiums, less applicable commissions, if any, and return premiums to the […]
Section 59A-62-11 – Penalties.
After notice and hearing by the superintendent, the superintendent may impose by administrative penalty upon a person who violates a provision of the Self-Service Storage Insurance License Act the following: A. a fine not to exceed one thousand dollars ($1,000) per violation and not to exceed a total of ten thousand dollars ($10,000); B. suspension […]
Section 59A-62-8 – Required training programs.
A. The supervising entity shall supervise the administration of the self-service storage insurance program, including development of a training program approved by the superintendent for employees and authorized representatives of the self-service storage insurance producer. B. The training program shall be provided to an employee or authorized representative of a self-service storage insurance producer prior […]
Section 59A-62-9 – Collection of fees.
A. Charges for self-service storage insurance coverage may be billed and collected by a self-service storage insurance producer. B. A charge to an occupant for coverage that is not included in the cost associated with the rental of storage space shall be separately itemized on the occupant’s bill. C. If self-service storage insurance coverage is […]
Section 59A-61-8 – Registration of pharmacy services administrative organizations required.
A pharmacy services administrative organization shall register with the superintendent on a form and in a time frame and method of submission specified by the superintendent. History: Laws 2019, ch. 269, § 7. ANNOTATIONS Effective dates. — Laws 2019, ch. 269, § 8 made Laws 2019, ch. 269 effective July 1, 2019.
Section 59A-62-1 – Short title.
Sections 1 through 11 [59A-62-1 to 59A-62-11 NMSA 1978] of this act may be cited as the “Self-Service Storage Insurance License Act”. History: Laws 2019, ch. 219, § 1. ANNOTATIONS Effective dates. — Laws 2019, ch. 219, § 14 made Laws 2019, ch. 219 effective July 1, 2019.
Section 59A-62-2 – Definitions.
As used in the Self-Service Storage Insurance License Act: A. “occupant” means a person who is entitled to the use of storage space at a self-service storage facility, to the exclusion of others, under terms of a rental agreement, including a sublessee, successor or assignee; B. “owner” means the owner, operator, franchisee, lessor or sublessor […]
Section 59A-62-3 – Self-service storage insurance producer license.
A. The superintendent may issue a self-service storage insurance producer license to an applicant who is qualified to solicit or sell self-service storage insurance. B. An owner shall not sell, solicit or offer self-service storage insurance unless the owner has complied with the requirements of the Self-Service Storage Insurance License Act and has been issued […]
Section 59A-62-4 – Registry of authorized locations.
A. Before offering self-service storage insurance at a location, a self-service storage insurance producer shall provide the superintendent with a complete list of each location where the self-service storage insurance producer will offer self-service storage insurance. The supervising entity shall maintain a registry of each location at which a self-service storage insurance producer is authorized […]
Section 59A-62-5 – Disclosure of terms.
A. A self-service storage insurance producer shall not sell, solicit or offer self-service storage insurance to occupants at any location unless the licensee makes available a brochure or other written or electronic material that: (1) discloses that self-service storage insurance may provide a duplication of coverage already provided by an occupant’s homeowner’s insurance policy, renter’s […]