N.M. Admin. Code § 21.17.50.21

Current through Register Vol. 35, No. 23, December 10, 2024

Section 21.17.50.21 - PROOF OF FINANCIAL RESPONSIBILITY

A. A commercial applicator license shall not be issued until the applicant has furnished proof of financial responsibility acceptable to the director. This requirement may be satisfied by:

(1) a certificate of liability insurance signed by an authorized insurance representative; or

(2) a certified copy of a liability insurance policy; or

(3) a surety bond.

B. Proof of financial responsibility by any means other than a certified copy of the policy shall be provided by the issuing company on forms provided by or approved by the director.

C. Proof of financial responsibility shall be clearly conditioned to cover liability resulting from the handling, storage, disposal, application, use or misuse of any pesticide.

D. The director shall be notified in writing by the issuing company ten (10) days prior to any reduction or cancellation of insurance coverage.

E. The insurer or surplus line broker shall be authorized to do business in New Mexico.

N.M. Admin. Code § 21.17.50.21

7/1/97; 21.17.50.21 NMAC - Rn, 21 NMAC 17.50.21, 11/30/05