For protection of the public and to preserve and improve competence of licensees, during the twelve months next preceding expiration of the current license period, the licensee must attend the minimum number of hours of formal class instruction, lectures or seminars required and approved by the superintendent covering the kinds of insurance for which licensed.
Instruction shall be designed to refresh the licensee's understanding of basic principles and coverage’s involved, recent and prospective changes, applicable laws and rules of the superintendent, NMSA 59A-12-26.A.B.
The superintendent shall charge, at the time of certifying each licensee's continuing education credits as a condition of continuation of license, a fee of one dollar ($1.00) per credit hour of continuing education. NMSA 59A-12-26.E
D. The superintendent may impose a penalty not to exceed fifty dollars ($50.00) for a licensee's failure to timely report continuing education credits. NMSA 59A-12-26.D
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Filing fee is one dollar ($1.00) per credit hour of continuing education. After October 31st there is a fifty dollar ($50.00) ;penalty in addition to the one dollar ($1.00) per credit filing fee.
"Licensee" means an agent, broker, limited surety agent, solicitor, bail bond solicitor, property bondsman, nonresident agent, or nonresident broker.
Hours required annually.
- Title insurance licensees shall annually complete seven credit hours of approved courses covering title insurance.
- All other licensees shall annually complete 15 credit hours of approved courses covering some or all of the kinds of insurance for which they are licensed.
No carry-over. No licensee may carry over credit hours earned in one compliance year to the next compliance year.
No duplicate credit. No additional credit will be granted to a licensee for completion of the same approved course more than once in any three year period.
A non-resident producer’s continuing education requirement is met if the non-resident producer fulfills his or her home state continuing education requirement and the home state also grants such reciprocity.
Continuing education credit year: The continuing education credit year shall begin on October 1 of each year and end on September 30th of the following year. A licensee shall file a certificate of completion indicating that the licensee has completed t he required number of credits of approved courses. The certificate of completion shall be on the form prescribed by the Superintendent, shall contain original signatures, and shall be filed with the Superintendent no later than October 31st of each year.
The Superintendent will not credit continuing education credits to a licensee until the Superintendent receives the certificate of completion and the fee from the licensee.
A licensee shall maintain copies of certificates of completion of approved courses for a period of three (3) years.
TITLE 13, CHAPTER 4-LICENSING OF INSURANCE PROFESSIONALS, PART 7-CONTINUING EDUCATION REQUIREMENTS 184.108.40.206
Any licensee, that has been continuously licensed and in good standing for 25 years, is eligible to apply for a Grandfather Exemption.
To apply for the Grandfather Exemption you must submit a notarized statement, with a brief description of your 25 year insurance experience. Please list your license number on your request. A filing fee of $15.00 is required. Make check or money orders payable to Office of Superintendent of Insurance. (We do not accept cash or electronic payments.). If your request is incomplete or incorrect you will be notified by mail and must resubmit your request with new fees. All fees are deemed earned when paid and are not refundable. NMSA 59A-6.1