A. In the event a provision of the Rental Car Insurance Limited Producer License Act is violated by a rental car agent or endorsee, the superintendent of insurance may: (1) after notice and hearing, revoke or suspend the license issued under the Rental Car Insurance Limited Producer License Act; or (2) after notice and hearing, impose other penalties, including suspending the transaction of insurance at specific rental locations where violations of the Rental Car Insurance Limited Producer License Act have occurred. B. If a person offers or sells insurance in connection with, or incidental to, rental agreements or holds himself or a company out as a rental car agent without satisfying the requirements of the Rental Car Insurance Limited Producer License Act, the superintendent of insurance shall be authorized to issue a cease and desist order. History: Laws 2001, ch. 94, § 8. ANNOTATIONSEffective dates. — Laws 2001, ch. 94, § 10 made the Rental Car Insurance Limited Producer License Act effective July 1, 2001.
New Mexico Legal Code