Section 59A-11A-5 – Insurance consultants; contracts and agreements.
No contract or agreement with an insurance consultant for any advice, counsel, recomendation [recommendation] or other information provided within the scope of his license shall be enforceable by him unless: A. it is in writing and executed in duplicate by the person to be charged or his legal representative; B. the duplicate is delivered to […]
Section 59A-11A-6 – Insurance consultant; required acknowledgments.
A. An insurance consultant who furnishes any advice or counsel within the scope of his license as such a consultant, makes any recommendation or gives any information except under the terms of a previously executed written contract conforming to Section 4 [59A-11-4 NMSA 1978] of this act and in full force and effect shall upon […]
Section 59A-11A-7 – Payment from insurers or insurance producers for sale of insurance prohibited; penalty.
A. No insurance consultant serving any person, firm, association, organization or corporation not engaged in the insurance business, for compensation paid or to be paid by the person served, shall directly or indirectly receive any part of any commission or compensation paid by any insurer or insurance producer of any insurer in connection with the […]
Section 59A-11A-8 – Acting as insurance consultant without a license prohibited; penalty.
Any person who acts as an insurance consultant without a license or during the suspension of his license is guilty of a misdemeanor and upon conviction shall be punished by a fine of not more than five hundred dollars ($500) or by imprisonment in the county jail for a definite term not exceeding six months […]
Section 59A-11A-2 – Insurance consultant license; exemptions.
Nothing in this act [59A-11A-1 to 59A-11A-8 NMSA 1978] shall be construed to: A. prohibit the customary advice offered by a licensed insurance agent or adjuster; B. apply to a person admitted to the practice of law or permitted to engage in the practice of public accountancy in this state when the person is acting […]
Section 59A-11A-3 – Insurance consultant license; application; requirements for issuance; fee; renewal.
A. The superintendent shall issue a license as an insurance consultant to a person who: (1) has reached the age of majority; (2) files a written application in the manner and form prescribed by the superintendent, stating the lines of insurance for which the applicant desires a license; (3) passes an examination as provided in […]
Section 59A-11A-4 – Insurance consultant license; suspension or revocation; appeal; penalty.
A. The superintendent may revoke the license of an insurance consultant or suspend it for a period not exceeding the expiration date of the license for any good cause shown as provided in the Insurance Code. The superintendent shall revoke or suspend a license only upon notice and hearing as provided in the Insurance Code. […]
Section 59A-11A-1 – Insurance consultant; license required.
Unless licensed as an insurance consultant under the provisions of this act [59A-11A-1 to 59A-11A-8 NMSA 1978], no person shall: A. for a fee received or to be received, offer to examine, examine or aid in examining any policy of insurance or any annuity or pure endowment contract for the purpose of giving or offering […]