New Mexico § 59A-12B-3 Licensure

New Mexico Statutes

§ 59A-12B-3 — Licensure

New Mexico § 59A-12B-3

Ch. 59AInsurance Code

Art. 12BManaging General Agents

This text of New Mexico § 59A-12B-3 (Licensure) 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-12B-3 (2026).

Text

A.No person, firm, association or corporation shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer authorized in this state unless such person is a licensed agent or broker in this state.

B.No person, firm, association or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless such person is licensed as an agent or broker in this state pursuant to the provisions of the Managing General Agents Law.

C.The superintendent may require a bond in an amount acceptable to him for the protection of the insurer.

D.The superintendent may require the managing general agent to maintain an errors and omissions policy.

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A. No person, firm, association or corporation shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer authorized in this state unless such person is a licensed agent or broker in this state. B. No person, firm, association or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless such person is licensed as an agent or broker in this state pursuant to the provisions of the Managing General Agents Law. C. The superintendent may require a bond in an amount acceptable to him for the protection of the insurer. D. The superintendent may require the managing general agent to maintain an errors and omissions policy.