New Mexico § 59A-12-3 "Broker" defined

New Mexico Statutes

§ 59A-12-3 — "Broker" defined

New Mexico § 59A-12-3

Ch. 59AInsurance Code

Art. 12Insurance Producers

This text of New Mexico § 59A-12-3 ("Broker" defined) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 59A-12-3 (2026).

Text

For the purpose of the Insurance Code [Chapter 59A NMSA 1978], a "broker" is a type of insurance producer who, not being an agent of the insurer, as an independent contractor and on behalf of the insured solicits, negotiates or procures insurance or annuity contracts or renewal or continuation thereof for insureds or prospective insureds other than the broker. "Broker" does not include a surplus line broker, as defined in Chapter 59A, Article 14 NMSA 1978.

Free access — add to your briefcase to read the full text and ask questions with AI

For the purpose of the Insurance Code [Chapter 59A NMSA 1978], a "broker" is a type of insurance producer who, not being an agent of the insurer, as an independent contractor and on behalf of the insured solicits, negotiates or procures insurance or annuity contracts or renewal or continuation thereof for insureds or prospective insureds other than the broker. "Broker" does not include a surplus line broker, as defined in Chapter 59A, Article 14 NMSA 1978.