N.M. Stat. § 59A-13-13
Prohibited conduct regarding the adjustment and repair
of property damage.
A. An adjuster may not adjust a loss related to physical damage of a property on
which the adjuster is also a contractor, acts as a contractor or is employed as a
contractor, including a roofing contractor, building contractor or plumbing contractor, or
otherwise provides building repairs or products, including building or plumbing repairs or
products, for compensation or is a controlling person in a business relating to such
contracting.
B. A contractor or a roofing contractor may not act as an adjuster or advertise to
adjust claims for any property for which the contractor is providing or may provide
roofing, building, plumbing or other contractor services, regardless of whether the
contractor is a licensed adjuster.
C. In those instances in which an adjuster who is also a contractor is performing
either as an adjuster or as a contractor on behalf of an insured, the adjuster shall
provide the insured with a disclaimer, on a form promulgated by the superintendent and
signed by the adjuster, indicating in which of these two capacities the adjuster is serving
the insured and affirming that the adjuster is not serving the insured in the other
capacity. The adjuster shall retain copies of such signed disclaimers and make them
available to the superintendent upon the superintendent's request.