No person shall in this state solicit subscription to or purchase of any security covered by a securities permit issued under this article unless such securities salesperson is licensed therefor. If the security is not one to be issued by a newly-formed or proposed new domestic insurer or holding company proposing to acquire or form a domestic insurer, the license shall be one issued by the securities division of the department of financial institutions under the laws of this state applying to public offering and sale of securities in general; otherwise, the license shall be one issued by the superintendent under the provisions of this article.
History: Laws 1984, ch. 127, ยง 605.
Structure New Mexico Statutes
Article 35 - Sale of Insurance Securities
Section 59A-35-1 - Short title.
Section 59A-35-2 - Scope of article.
Section 59A-35-3 - "Security" defined.
Section 59A-35-4 - "Affiliate" defined.
Section 59A-35-5 - "Promoter" defined.
Section 59A-35-6 - Registration of security; permit required.
Section 59A-35-7 - Exemptions.
Section 59A-35-8 - Registration procedure.
Section 59A-35-9 - Registration fee.
Section 59A-35-10 - Issuance, denial of permit.
Section 59A-35-11 - Terms of permit; compliance.
Section 59A-35-12 - Permit as inducement.
Section 59A-35-13 - Public announcements of offering.
Section 59A-35-14 - Modification, revocation of permit.
Section 59A-35-15 - Exclusive jurisdiction.
Section 59A-35-16 - Securities salespersons, license required.
Section 59A-35-17 - Qualifications, procedure for security salesperson license.