New Mexico Statutes 59A-58-5. Registration requirements
A. A provider who wishes to issue, sell or offer for sale service contracts in this state must submit to the superintendent:
Terms Used In New Mexico Statutes 59A-58-5
- Contract: A legal written agreement that becomes binding when signed.
(1) a registration application on a form prescribed by the superintendent; (2) proof that the provider has complied with the requirements for security pursuant to Section 59A-58-6 N.M. Stat. Ann.;
(3) the name, address and telephone number of each administrator with whom the provider intends to contract, if any; and
(4) provided that House Bill 248 of the first session of the fifty-fifth legislature: (a) becomes law, the registration renewal fee provided in Section 59A-6-1 N.M. Stat. Ann.; or
(b) does not become law, a fee of five hundred dollars ($500).
B. A provider’s registration is valid for one year after the date the registration is filed. A provider may renew the provider’s registration if, before the registration expires, the provider submits to the superintendent an application on a form prescribed by the superintendent and, provided that House Bill 248 of the first session of the fifty-fifth legislature:
(1) becomes law, the registration renewal fee provided in Section 59A-6-1 N.M. Stat. Ann.; or
(2) does not become law, a fee of five hundred dollars ($500).
C. The provisions of this section shall not apply to major manufacturing companies’ service contracts.
D. Service contract forms are not required to be filed with the superintendent.