New Mexico Statutes 59A-38-11. Lloyds Plan insurance producers; licensing
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The provisions of the Insurance Code as to qualifications, appointment, licensing and regulation of insurance producers apply neither to the attorney-in-fact at Lloyds nor to a salaried representative of Lloyds who receives no commission, but do apply to any insurance producer who receives any commission.
Terms Used In New Mexico Statutes 59A-38-11
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.