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Current as of January 01, 2024 | Updated by FindLaw Staff
Whenever a licensed manager ceases to be in charge of an office, the licensee shall notify the director in writing within ten days from such cessation.
If the notice is given, the collection agency license shall remain in force for a reasonable period to be determined by the rules and regulations. If the licensee fails to give the notice as required at the end of the ten-day period the collection agency license shall be ipso facto suspended, but the license shall be reinstated upon the filing of an affidavit by the licensee to the effect that the person formerly in charge of the office has been replaced by a licensed manager.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 61. Professional and Occupational Licenses § 61-18A-23. Loss of qualified person - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-61-professional-and-occupational-licenses/nm-st-sect-61-18a-23/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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