The superintendent shall conduct public hearings for the purpose of promulgating the premium rates, schedule of charges and rating plan to be charged and used by bail bondsmen. No premium rate that has not been promulgated or otherwise approved by the superintendent shall be charged for any bail bond. Premium rates promulgated by the superintendent shall not be excessive, inadequate or unfairly discriminatory.
History: Laws 2014, ch. 21, § 9.
Effective dates. — Laws 2014, ch. 21 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 21, 2014, 90 days after the adjournment of the legislature.
Structure New Mexico Statutes
Article 51 - Bail Bondsmen Licensing
Section 59A-51-1 - Short title.
Section 59A-51-2 - Definitions.
Section 59A-51-3 - License required; exemption.
Section 59A-51-4 - Qualifications for license.
Section 59A-51-4.1 - Educational requirements.
Section 59A-51-5 - Application for license.
Section 59A-51-6 - Licensing fees.
Section 59A-51-7 - Examination for license.
Section 59A-51-8 - Bonding requirements, property bondsmen.
Section 59A-51-9 - Issuance, refusal of license.
Section 59A-51-10 - Duration, continuation, expiration of license.
Section 59A-51-11 - Return of license; property bondsman notice to courts.
Section 59A-51-12 - Appointment or termination of solicitors.
Section 59A-51-13 - Practices.
Section 59A-51-13.1 - Premium rates.
Section 59A-51-14 - Denial, suspension, revocation or refusal to continue license.
Section 59A-51-15 - Duration of suspension; relicensing after revocation.
Section 59A-51-16 - Administrative fine in lieu.