New Mexico § 59A-20A-4 License denial, suspension, revocation or refusal to

New Mexico Statutes

§ 59A-20A-4 — License denial, suspension, revocation or refusal to

New Mexico § 59A-20A-4

Ch. 59AInsurance Code

Art. 20AViatical Settlements

This text of New Mexico § 59A-20A-4 (License denial, suspension, revocation or refusal to) 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-20A-4 (2026).

Text

renew. A. The superintendent may deny, suspend, revoke or refuse to renew the license of a provider or broker if the superintendent finds that:

(1)there was any material misrepresentation in the application for the license;

(2)the licensee, including any officer, partner, member, key management personnel or representative of the licensee, has been convicted of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent;

(3)the licensee has pleaded guilty or nolo contendere, or been found guilty of, any felony or a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court;

(4)the licensee no longer meets the requirements for initial licensure; (5

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renew. A. The superintendent may deny, suspend, revoke or refuse to renew the license of a provider or broker if the superintendent finds that: (1) there was any material misrepresentation in the application for the license; (2) the licensee, including any officer, partner, member, key management personnel or representative of the licensee, has been convicted of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent; (3) the licensee has pleaded guilty or nolo contendere, or been found guilty of, any felony or a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court; (4) the licensee no longer meets the requirements for initial licensure; (5) the licensee has performed any act prohibited by the Viatical Settlements Act; (6) the provider demonstrates a pattern of unreasonable payments to viators; (7) the provider has entered into a viatical settlement contract that has not been approved in accordance with the Viatical Settlements Act; (8) the provider has failed to honor contractual obligations set out in a viatical settlement contract; or (9) the provider has assigned, transferred or pledged a viaticated policy to a person other than another provider licensed in New Mexico or a financing entity. B. Before the superintendent suspends, revokes or refuses to renew the license of a provider or broker, the superintendent shall conduct a hearing in accordance with Chapter 59A, Article 4 NMSA 1978. C. Any person aggrieved by denial of an application may request a hearing before the superintendent in accordance with the provisions of Chapter 59A, Article 4 NMSA 1978.