Corporate and partnership applicants shall submit an
application for a license in the name of the legal entity and shall submit
applications in the name of every officer and manager of a corporation and of
every partner in a partnership who is to exercise license powers of the
administrator as required by Section
59A-12A-3 C NMSA 1978. (Manager
as used herein shall mean the highest ranking administrator at a single
location.) Such applications shall be filed with the superintendent by the
partnership or corporation on form prescribed and furnished by the
superintendent, accompanied by an application fee as set out in this rule. The
application shall be signed on behalf of the legal entity (partnership or
corporation) by a partner or corporate officer thereunto duly authorized, and
under oath if so required by the superintendent. The application form may
require information about applicant as follows:
A. if a partnership, the name, residence,
proof of identity, business record and business experience of each partner and
so much additional information concerning such individuals as required of
applicants for license as individuals as the superintendent deems
advisable;
B. if a corporation, the
name, residence, proof of identity, business record and reputation, business
experience of each officer, member of the board of directors, controlling
stockholder(s), and such additional information concerning such individuals as
required of applicants for license as individuals as the superintendent deems
advisable;
C. evidence satisfactory
to the superintendent that transaction of business proposed to be transacted
under the license applied for is within the partnership agreement, if a
partnership, or within the corporate powers, if a corporation; and
D. such further information concerning
applicant, partners, corporate officers, directors, and stockholders, as the
superintendent deems advisable.
E.
If a partnership, each individual in addition to a general partner who is to
exercise license powers, and if a corporation, each individual, in addition to
an officer and manager who is to exercise the license powers, shall file
application as though for an individual license for the same kind of business
as that applied for by the partnership or corporation.
F. Each application shall be accompanied by
payment of the fee for filing an application and the fee for any examination
required under the Insurance Code to be taken and passed prior to licensing. An
additional license application filing fee is required as to each individual in
excess of one who is to exercise the license powers of a corporation, or
license powers of a partnership if not a general partner therein.
G. An administrator shall notify the
superintendent within thirty (30) days of any material change in its ownership,
control, or other fact or circumstance affecting its qualification for a
certificate of authority in this state.
