N.M. Code R. § 13.4.5.13 – Exemptions from Examination Requirements

A. No such examination will be required of an applicant for continuation or renewal of an existing insurance administrator’s license.
B. In his discretion, the superintendent may waive the examination requirement for insurance administrators who were operating in New Mexico prior to June 16, 1989, the effective date of Chapter 59A, Article 12A NMSA 1978 pursuant to Section 59A-12A-3B NMSA 1978.
C. Upon request from an applicant, the superintendent may waive the examination requirement if the applicant holds a valid certificate of authority as an administrator issued in a state which the superintendent has determined has standards for administrators that are at least as stringent as those contained in the model statute for third party administrators of the national association of insurance commissioners.
[2/1/92; Recompiled 11/30/01]