{"data":{"id":"us-nm/59a-20a-4","jurisdiction":"us-nm","citation":"59A-20A-4","heading":"License denial, suspension, revocation or refusal to renew.","body":"A. The superintendent may deny, suspend, revoke or refuse to renew the license of a provider or broker if the superintendent finds that:\n(1) there was any material misrepresentation in the application for the license;\n(2) the licensee, including any officer, partner, member, key management personnel or representative of the licensee, has been convicted of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent;\n(3) the licensee has pleaded guilty or nolo contendere, or been found guilty of, any felony or a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court;\n(4) the licensee no longer meets the requirements for initial licensure;\n(5) the licensee has performed any act prohibited by the Viatical Settlements Act;\n(6) the provider demonstrates a pattern of unreasonable payments to viators;\n(7) the provider has entered into a viatical settlement contract that has not been approved in accordance with the Viatical Settlements Act;\n(8) the provider has failed to honor contractual obligations set out in a viatical settlement contract; or\n(9) the provider has assigned, transferred or pledged a viaticated policy to a person other than another provider licensed in New Mexico or a financing entity.\nB. Before the superintendent suspends, revokes or refuses to renew the license of a provider or broker, the superintendent shall conduct a hearing in accordance with Chapter 59A, Article 4 NMSA 1978.\nC. Any person aggrieved by denial of an application may request a hearing before the superintendent in accordance with the provisions of Chapter 59A, Article 4 NMSA 1978.","path":["Chapter 59A - Insurance Code","ARTICLE 20A Viatical Settlements"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18562/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"567969237196dc671cc9f76e0b017e3ffbbb79f338d0c3f42eb7f0e5cc9b2409","source_id":"us-nm","stale":false,"prev":"us-nm/59a-20a-3","next":"us-nm/59a-20a-5"},"notice":"GroundRules: Original legal text. Not legal advice."}