New Mexico Statutes
§ 59A-51-16 — Administrative fine in lieu
A.The superintendent may, in the superintendent's discretion, in lieu of license suspension, revocation or refusal, and except on a second offense, impose upon the licensee an administrative penalty of one hundred dollars ($100), or, if the superintendent has found wilful misconduct or wilful violation on the part of the licensee, an administrative penalty not to exceed one thousand dollars ($1,000).
B.The superintendent may allow the licensee a reasonable period, not to exceed thirty days, within which to pay to superintendent the amount of the penalty so imposed. If the licensee fails to pay the penalty in its entirety to the superintendent within the period so allowed, the license of the licensee shall stand suspended or revoked, or continuation refused, as the case may be, upon expir
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 59A-51-16 (Administrative fine in lieu) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 1984, ch. 127, § 943; 2014, ch. 21, § 8.
Nearby Sections
15
§ 59A-1-1
Short title§ 59A-1-10
"Person"; "individual"§ 59A-1-11
"State"§ 59A-1-12
Superintendent§ 59A-1-13
"Transacting insurance"§ 59A-1-14
Compliance required§ 59A-1-16
Exempted from code§ 59A-1-17
Particular provisions prevail§ 59A-1-18
General penalty§ 59A-1-2
Definitions§ 59A-1-3
"Insurance Code"§ 59A-1-4
Repealed§ 59A-1-5
"Insurance"