REQUIREMENT TO FILE INDIVIDUAL AFFILIATION

STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Russell Toal DEPUTY SUPERINTENDENT Jennifer A. Catechis Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Satellite Phone: (505) 322-2186 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us BULLETIN 2021-021 September 28, 2021 TO: EVERY BUSINESS ENTITY ACTING AS AN INSURANCE PRODUCER SUBJECT TO THE PROVISIONS OF NMSA 1978, SECTION 59a-12-15 AND 13.4.2.10 NMAC RE: REQUIREMENT TO FILE INDIVIDUAL AFFILIATION The purpose of this Bulletin is to remind all licensed business entities acting as an insurance producer of the requirement for registration of individual producers affiliated with the business entity. Specifically, a licensed business entity acting as an insurance producer must register with the New Mexico Office of Superintendent of Insurance (“OSI”) under the business entity's insurance producer license every individual who is personally engaged in the solicitation and negotiation of insurance policies in this state on behalf of the business entity (pursuant to the New Mexico Insurance Code, NMSA 1978. Section 59A-l2-15 and 13.4.2.10 NMAC). The OSI has determined that a significant number of business entities do not have an individual affiliation on file with the OSI. All business entities acting as an insurance producer in New Mexico are to review their records to ensure that they have filed an application for affiliation for each of its individual producers. Failure to comply with this requirement may result in administrative action, including the denial or delay in the renewal approval of the business entity's producer license. Thank you for your cooperation. ISSUED this 28th day of September, 2021. __________________________________ RUSSELL TOAL Superintendent of Insurance RESCINDED OCTOBER 4, 2021