A. In the event a provision of the Rental Car Insurance Limited Producer License Act is violated by a rental car agent or endorsee, the superintendent of insurance may:
(1) after notice and hearing, revoke or suspend the license issued under the Rental Car Insurance Limited Producer License Act; or
(2) after notice and hearing, impose other penalties, including suspending the transaction of insurance at specific rental locations where violations of the Rental Car Insurance Limited Producer License Act have occurred.
B. If a person offers or sells insurance in connection with, or incidental to, rental agreements or holds himself or a company out as a rental car agent without satisfying the requirements of the Rental Car Insurance Limited Producer License Act, the superintendent of insurance shall be authorized to issue a cease and desist order.
History: Laws 2001, ch. 94, § 8.
Effective dates. — Laws 2001, ch. 94, § 10 made the Rental Car Insurance Limited Producer License Act effective July 1, 2001.
Structure New Mexico Statutes
Article 32A - Rental Car Insurance Limited Producer License
Section 59A-32A-1 - Short title.
Section 59A-32A-2 - Definitions.
Section 59A-32A-3 - General rules.
Section 59A-32A-4 - Licensing rental car companies as rental car agents.
Section 59A-32A-5 - Rental car endorsees.
Section 59A-32A-6 - Rental car agent and endorsee restrictions.
Section 59A-32A-7 - Rental car agent and endorsee prohibitions.