New Mexico Statutes Chapter 59A. Insurance Code § 59A-51-9. Issuance, refusal of license

The superintendent shall act upon application for license under this article within a reasonable period after the application has been filed with him.  If the superintendent finds that the application is complete, that the applicant has taken and passed any required examination, has paid all applicable fees and is otherwise qualified for the license, he shall issue to the applicant in appropriate form the license applied for.  Otherwise, the superintendent shall refuse to issue the license and shall promptly notify the applicant thereof in writing stating the grounds for the refusal.