New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-22-31. Effect on persons currently engaged in escrow company business

Any person engaged in the escrow company business in the state for a period of at least ninety days prior to the effective date of the Escrow Company Act shall have thirty days from that date in which to file a proper and complete application for a license together with the required bonds pursuant to Section 10 of the Escrow Company Act and evidence of insurance coverage pursuant to Section 11 of that act and to pay all required fees; provided that such applicant shall not be required to meet the condition specified in Subsection B of Section 8 of the Escrow Company Act. During that thirty-day period and until the director acts on the application, the person shall be entitled to operate without a license but shall otherwise comply with all other provisions of that act.