Notice of Proposed Rulemaking – Resident Licensing Requirements.

SUPERINTENDENT OF INSURANCE John G. Franchini 505-827-4299 NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE FILE 2017 DEC 13 AM NM OFFICE OF SUPERINTENDENT OF INSURANCE DEPUTY SUPERINTENDENT Robert Doucette 505-827-5832 Bulletin 2017-015 December 13, 2017 TO: ALL PERSONS SEEKING RESIDENT LICENSURE TO ENGAGE IN INSURANCE-RELATED ACTIVITIES IN THIS STATE PURSUANT TO THE NEW MEXICO INSURANCE CODE, SECTION 59A-1-1 ET SEQ. NMSA 1978 RE: NOTICE OF PROPOSED RULEMAKING – RESIDENT LICENSING REQUIREMENTS THE FOLLOWING Bulletin is issued pursuant to Sections 59A-4-3, 59A-18-12, 59A-18-13, 59A-18-14, 59A-18-17, and 59A-23-3 NMSA 1978 and Section 1 of 13.1.2 NMAC. This Bulletin is issued by the Office of Superintendent of Insurance (“OSI” or “the Superintendent”) to provide additional notice of a new proposed rule pertaining to resident licensing requirements for persons licensed by OSI, to be codified in the New Mexico Administrative Code at 13.4.2 – Licensing of Insurance Professionals – Resident Producers and Other Resident Licensees. OSI is providing this notice in addition to the legally required Notice of Proposed Rulemaking which was filed and published in accordance with statute. The purpose of the proposed rule is to repeal and replace the resident licensing requirements previously codified in the New Mexico Administrative Code (NMAC) at Section 1 of 13.4.2 – Licensing of Insurance Professionals – Resident Agents and Solicitors, and to establish requirements for obtaining a license from the Superintendent. The proposed rule pertains to licensure as a resident insurance producer, insurance consultant, producer for prepaid dental plans, producer for sales of membership in a health maintenance organization, producer for a fraternal benefit society, vendor selling portable electronics insurance, salesperson for prearranged funeral plans, title insurance producer, pharmacy benefits manager, reinsurance intermediary, managing general agent, registered motor Main Phone: 505-827-4601 Main Fax: 505-827-4734 Toll Free: 1-855-4-ASK-OSI Mailing Address: P.O. Box 1689 Santa Fe, NM 87504-1689 Physical Address: 1120 Paseo de Peralta Santa Fe, NM 87501 Website: WWW.OSI.STATE.NM.US club representative, rental car insurance producer or endorsee, temporary insurance producer or travel insurance producer. This proposed rule also establishes requirements for professional qualifying examinations and the issuance, duration, continuation and termination of all such licenses, appointments and registrations. As a result of statutory changes that were effective July 1, 2017, many types of resident licenses are now subject to biennial renewal rather than annual renewal, as explained in the proposed rule. The proposed rule is intended to provide guidance for persons currently holding a resident license or wishing to obtain a resident license and appointments by insurers. The Notice of Proposed Rulemaking, the proposed rule, and instructions on how to submit comments may be found on the OSI website at http://www.osi.state.nm.us/, under the “Rulemaking” tab. A copy of the full text of the proposed rule is also available by electronic download from the OSI website, or the New Mexico Sunshine portal, or by requesting a copy in person at the NM Office of Superintendent of Insurance, 1120 Paseo de Peralta, Room 431, Santa Fe, NM 87501. DONE and ORDERED this 13th day of December, 2017. JOHN G. FRANCHINI Superintendent of Insurance Main Phone: 505-827-4601 Main Fax: 505-827-4734 Toll Free: 1-855-4-ASK-OSI Mailing Address: P.O. Box 1689 Santa Fe, NM 87504-1689 Physical Address: 1120 Paseo de Peralta Santa Fe, NM 87501 Website: WWW.OSI.STATE.NM.US