1. A. This rule applies to any person transacting creditor-placed insurance on property located in New Mexico.

2. B. This rule does not apply to:

   1. (1) creditor-placed insurance first issued on property located in another state but subsequently moved to this state;
   2. (2) insurance for which no specific charge is made to the debtor or the debtor’s account; or
   3. (3) blanket insurance, whether paid for by the debtor or the creditor.

[13.18.3.2 NMAC – Rp, 13.18.3.2 NMAC, 7/24/2018]