- A. The superintendent may revoke the license of an insurance consultant or suspend it for a period not exceeding the expiration date of the license for any good cause shown as provided in the Insurance Code. The superintendent shall revoke or suspend a license only upon notice and hearing as provided in the Insurance Code.
- B. Any person aggrieved by the action of the superintendent in revoking, suspending or refusing to grant, renew or reissue a license may appeal that action to the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978.
- C. The superintendent may at any time require such information as he deems necessary in respect to the business methods, policies and transactions of a licensee. Any person who fails or refuses to furnish the superintendent in the form he may require any such information within ten days after receiving a written request for it is guilty of a misdemeanor and upon conviction shall be fined not less than fifty dollars ($50.00) or more than five hundred dollars ($500).
History: Laws 1989, ch. 97, § 4; 1998, ch. 55, § 62; 1999, ch. 265, § 66.
ANNOTATIONS
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
The 1999 amendment, effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1" in Subsection B.
The 1998 amendment, effective September 1, 1998, in Subsection B, substituted "to the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978" for "as provided in the Insurance Code" and in Subsection C, substituted "or" for "nor".