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State statute · New Mexico

Licensing Procedures for Producers and Others; Insurance Consultants; Insurance Producers; Adjusters

NMSA 1978, Chapter 59A (New Mexico Insurance Code), Articles 11, 11A, 12 and 13

Publisher
nmonesource.com
Edition
NMSA 1978, current through the Second Session of the Fifty-Seventh Legislature
Last checked
2026-09-02
Status
NM statutes, public domain
Edition and licensing notes

Edition. NMSA 1978, current through the Second Session of the Fifty-Seventh Legislature (2026)

Status. NM statutes, public domain (state government edict).

Read the official textPractice questions from this source

What this document is

NMSA 1978, Chapter 59A (New Mexico Insurance Code), Articles 11, 11A, 12 and 13 - Licensing Procedures for Producers and Others; Insurance Consultants; Insurance Producers; Adjusters is a state statute published by nmonesource.com. It is one of the New Mexico documents that insurance license exam questions are written from, including new mexico life & health, 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.

  • NMSA 1978 ch. 59A § 59A-11-12(A) (Appointment of insurance producer; continuation)
    “An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed insurance producer of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.”
  • NMSA 1978 ch. 59A § 59A-12-26(C) (Continuing education)
    “The superintendent may permit licensees who because of remoteness of residence or business cannot with reasonable convenience attend formal instruction sessions to successfully complete an equivalent course of study and instruction online or by mail.”
  • NMSA 1978 ch. 59A § 59A-12-16(G) (Examination for license)
    “A person licensed as an insurance producer in another state who moves to this state shall apply within ninety days of establishing legal residence to become a resident insurance producer. No examination shall be required of that person to obtain any line of authority previously held in the prior...”
  • NMSA 1978 ch. 59A § 59A-11-16(B) (Duration of suspension)
    “During the period of suspension the licensee shall not engage in any transaction for which the license is required, other than receipt and remittance of premiums paid as to insurance or other business transacted under the license prior to the suspension.”
  • NMSA 1978 ch. 59A § 59A-11-14(A) (Suspension, revocation, refusal to continue license; grounds)
    “In addition to a reason provided under other provisions of the Insurance Code as to particular licenses, the superintendent may place on probation, suspend, revoke or refuse to issue or renew a license issued under Chapter 59A, Article 11 NMSA 1978 for any of the following reasons: (1) providing...”
  • NMSA 1978, § 59A-11-13(A) (Insurance producers' rights; cancellation)
    “A. No insurer shall terminate a contract appointing an individual as an independent insurance producer without giving the insurance producer written notice of the termination, including the specific reason for such action, at least one hundred eighty days prior to the termination.”
  • NMSA 1978, § 59A-11-6(B) (Examination of applicant)
    “Where an applicant for a license is required to take and pass an examination prior to issuance of a license, the examination shall be subject to the following provisions: A. the examination shall be made available to applicants for particular licenses at least once each month at places within New...”
  • NMSA 1978, § 59A-11-17 (Administrative fine in lieu [of suspension, etc.])
    “In lieu of suspension, revocation or refusal to continue a license issued under this article the superintendent may levy an administrative fine upon the licensee in amount of not less than one hundred dollars ($100) nor more than five hundred dollars ($500). In the order levying the fine, the...”
  • NMSA 1978, § 59A-12-22(C) (Fiduciary funds; insurance producers, surplus line brokers, bail bondsmen, motor club agents and others)
    “C. The person may commingle with the person's own funds to an unlimited amount funds of a particular principal who has in writing in advance expressly waived the segregation requirements of Subsection B of this section.”
  • NMSA 1978, § 59A-12-17(D) (Scope of license)
    “D. An insurance producer who allows the insurance producer's license to lapse may, within twelve months from the due date of the renewal fee, reinstate the same license without the necessity of passing a written examination. However, a penalty in the amount of double the unpaid renewal fee shall be...”
  • NMSA 1978, § 59A-12-19(A) (Temporary licenses)
    “The superintendent may issue a temporary insurance producer license for a period not to exceed one hundred eighty days without requiring an examination if the superintendent deems that the temporary license is necessary for the servicing of an insurance business in the following cases: (1) to the...”
  • NMSA 1978, § 59A-12-22(B) (Fiduciary funds; insurance producers, surplus line brokers, bail bondsmen, motor club agents and others)
    “B. Subject to the terms of any agreement between a person or licensee and the person's or licensee's principal or obligee, each person who does not make immediate remittance of funds to the insurer or other person entitled thereto shall elect and follow as to funds received for account of a...”

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Questions about this source

NMSA 1978, Chapter 59A (New Mexico Insurance Code), Articles 11, 11A, 12 and 13 - Licensing Procedures for Producers and Others; Insurance Consultants; Insurance Producers; Adjusters is a state statute published by nmonesource.com. Edition: NMSA 1978, current through the Second Session of the Fifty-Seventh Legislature (2026).

No. This page summarizes the document and links to the official version. Always rely on the text published by nmonesource.com for the current law.

Practice questions for New Mexico Life & Health, New Mexico Property & Casualty, New Mexico Personal Lines cite this document.

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