N.M. Admin. Code § 13.2.5.18 - ROTATION OF ACCOUNTANTS REQUIRED
A. No partner or other person responsible for
rendering a report may act in that capacity for more than five consecutive
years. Following any such period of service the person shall be disqualified
from acting in that or a similar capacity for the same company or its insurance
subsidiaries or affiliates for a period of two years.
B. An insurer may make application to the
superintendent for relief from this rotation requirement on the basis of
unusual circumstances. The superintendent may consider the following factors in
determining if the relief should be granted:
(1) the number of partners, expertise of the
partners or the number of insurance clients in the currently registered
firm;
(2) the premium volume of the
insurer; and
(3) the number of
jurisdictions in which the insurer transacts business.
Notes
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