Section 58-22-15 - Grounds for denying a licenseThe director may deny an escrow company's application for initial licensing or renewal if:
A. the applicant has ever had an escrow company license revoked for cause;B. the applicant was a partner, owner, officer, director, trustee, manager or principal stockholder of any partnership, corporation or unincorporated association whose escrow company license has been revoked for cause;C. the applicant has any owner, officer, director or principal stockholder who has had an escrow company license revoked for cause;D. the director has knowledge that the applicant or a partner, owner, officer, director, trustee or principal stockholder of the applicant has been convicted of fraud, embezzlement or any crime involving moral turpitude pursuant to the laws of New Mexico or has been adjudged disqualified for employment as an escrow company pursuant to the provisions of the Escrow Company Act. For the purpose of this subsection, the division shall be considered a law enforcement agency and the director may acquire arrest record information from another law enforcement agency pursuant to Section 29-10-5 NMSA 1978;E. there is no officer or manager possessing necessary escrow experience to be stationed in the proposed business location;F. any false statement of a material fact has been made in application for licensure; orG. the applicant or any officer, owner, partner, director or incorporator of the applicant has violated any provision of the Escrow Company Act or the rules thereunder or any similar regulatory scheme of a foreign jurisdiction.Laws 1983, ch. 135, § 15; 1987, ch. 120, § 3; 2015, ch. 135, § 5.Amended by 2015, c. 135,s. 5, eff. 7/1/2015.