Resident Producers and Other Resident Licenses

What this document is

13.4.2 NMAC - Resident Producers and Other Resident Licenses is a regulation published by www.srca.nm.gov (New Mexico State Records Center and Archives). It is one of the New Mexico documents that insurance license exam questions are written from, including new mexico property & casualty, new mexico personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 13.4.2.9(C)(4) NMAC (Licensing requirements for individuals)

  “the applicant has provided an in-state residential or business address (a post office box does not satisfy this requirement);”

• 13.4.2.25(B)(1) NMAC (Obtaining a temporary insurance producer license)

  “An applicant will not be issued a temporary license unless supervised by a suitable sponsor who is a licensed insurance producer or by an insurer who assumes responsibility for all acts of the temporary licensee.”

• 13.4.2.12(A)(2) NMAC (Commissions and compensation)

  “Renewal and other deferred commissions may be subsequently paid to a person for selling, soliciting or negotiating insurance in this state if the person was licensed as required at the time of the transaction.”

• 13.4.2.29(C)(4) NMAC (Appointments and cancellation of producer contracts)

  “(4) Notice of termination of appointment by an insurer shall be provided to the superintendent using the online form, or as otherwise directed by the superintendent, within 30 days following the effective date of the termination.”

• 13.4.2.26(C)(4)(a) NMAC (Other duties of licensees)

  “(a) Records of each insurance policy shall be retained for a minimum of three years after the policy’s expiration, unless a longer period is required.”

• 13.4.2.9(C)(2) NMAC (Licensing requirements for individuals)

  “the applicant does not currently hold an active New Mexico resident or nonresident license or an active resident license in another state;”

• 13.4.2.25(C) NMAC (Obtaining a temporary insurance producer license)

  “C. Application granted. Upon application for a temporary insurance producer license, the insurer and the applicant may assume that the license will be issued in due course, effective as of the date the application was filed with the superintendent, unless the superintendent notifies the insurer to...”

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Questions about this source

More New Mexico sources

• NMSA 1978 Chapter 59A, Article 16 - Trade Practices and Frauds (59A-16-1 to 59A-16-30)State statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 23 - Group and Blanket Health Insurance ContractsState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 21 - Group Life InsuranceState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 42 - Life and Health Insurance Guaranty AssociationState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 22 - Health Insurance ContractsState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 18 - The Insurance ContractState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Article 20 - Life Insurance and Annuity ContractsState statute
• NMSA 1978, Chapter 59A (New Mexico Insurance Code), Articles 24A and 23A - Medicare Supplements; Long-Term Care InsuranceState statute