New Mexico · Surety Bond Resource Center

New Mexico surety bonds

New Mexico’s published statewide license bonds in this hub sit with the Motor Vehicle Division, the Construction Industries Division, the Financial Institutions Division, the Secretary of State, and the Office of Superintendent of Insurance. Vehicle dealers, wholesalers, distributors, auto recyclers, and title-service companies file a $50,000 surety bond under NMSA 1978 § 66-4-7; motorcycle-only dealers file $12,500. CID contractor licenses—whether general building, engineering, electrical, mechanical, or other classifications—share one $10,000 proof-of-responsibility bond under § 60-13-49 and 14.6.3 NMAC; classifications define the scope of work, not separate bond amounts. Mortgage loan companies and originators use a $50,000 / $100,000 / $150,000 New Mexico origination-volume schedule under §§ 58-21-7 and 58-21B-17. Money transmitters size the bond at the greater of $300,000 or one percent of yearly New Mexico volume, up to $2,000,000, under § 58-32-203. Collection agencies start at $5,000 and renew on a two-month average-collections formula generally capped at $25,000 under § 61-18A-15 and 12.24.2 NMAC. Notaries file a $10,000 bond under § 14-14A-20. Public adjusters maintain at least $10,000 surety under § 59A-13-5.

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Surety bond certificate and license approval illustration

New Mexico at a glance

Vehicle dealer / recycler / title service: $50,000 / $12,500
CID contractor license: $10,000
Mortgage loan company / MLO: $50,000–$150,000
Money transmitter: $300,000–$2,000,000
Collection agency: $5,000–$25,000+
Notary public: $10,000
Public adjuster: $10,000

How it works in this state

How New Mexico bonding is organized

How New Mexico organizes these bonds

Dealer bonds file with the Motor Vehicle Division on a two-tier schedule that separates motorcycle-only shops from other dealer, wholesaler, distributor, recycler, and title-service licenses. Construction Industries Division contractor licenses use one statewide $10,000 proof-of-responsibility bond regardless of whether the qualifying party’s certificate is GB-98, EE-98, MM-98, or another classification—the classification controls authorized work, not the bond amount. Mortgage loan companies and money transmitters file with the Financial Institutions Division through NMLS on volume-based schedules. Collection agencies renew against a client-proceeds formula in FID rules. Notary bonds upload with the Secretary of State’s online commission filing. Public adjusters file surety with the Office of Superintendent of Insurance.

What this hub does not treat as statewide license bonds

CID does not publish separate statewide bond amounts for each contractor classification; a single $10,000 bond accompanies the license. Standalone credit-services organization bonds outside the Collection Agency Regulatory Act were not verified for a dedicated guide. Title-insurance agent surety schedules were not verified from official OSI materials for publication. Local city or county contractor and right-of-way bonds, project bid/performance/payment bonds, and court bonds remain outside this commercial-core set.

New Mexico bond directory

Find your bond requirement

These guides cover license and permit bonds with verified educational content. Your agency notice or application checklist is always the final authority.

BondAgencyCommon amountHow you file

Who sets the requirement?

New Mexico licensing agencies

Each agency below sets its own bond requirement. Open the related guide for amounts and filing steps.

New Mexico Motor Vehicle Division — Dealers

Licenses dealers, wholesalers, distributors, auto recyclers, and title-service companies and receives the § 66-4-7 surety.

Open related guide →

Construction Industries Division (Regulation and Licensing Department)

Issues contractor licenses by classification and requires the $10,000 proof-of-responsibility bond under § 60-13-49 / 14.6.3 NMAC.

Open related guide →

Financial Institutions Division — Mortgage

Licenses mortgage loan companies and originators through NMLS and receives §§ 58-21-7 / 58-21B-17 sureties.

Open related guide →

Financial Institutions Division — Money transmission

Licenses money transmitters under the Uniform Money Services Act and receives § 58-32-203 security.

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Financial Institutions Division — Collection agencies

Licenses collection agencies and repossessors and receives § 61-18A-15 sureties sized under 12.24.2 NMAC.

Open related guide →

New Mexico Secretary of State — Notary Public

Commissions notaries and receives the $10,000 bond under § 14-14A-20.

Open related guide →

Office of Superintendent of Insurance — Public adjusters

Licenses public adjusters and requires ≥ $10,000 surety under § 59A-13-5.

Open related guide →

Before you apply

Confirm these details from the agency notice

Bring these five items when you request a bond. For the full checklist, see how to read a bond requirement.

1
Confirm your MVD license class before ordering a dealer bond
Motorcycle-only dealers use $12,500. Dealers, wholesalers, distributors, auto recyclers, and title-service companies use $50,000 under § 66-4-7.
2
Do not expect a different CID bond for each trade classification
GB, GA, electrical, mechanical, and other CID classifications share the same $10,000 proof-of-responsibility bond. Match the qualifying-party certificate to the work you perform, not a separate bond schedule.
3
Recalculate mortgage and money-transmitter amounts from New Mexico volume
Mortgage amounts step at $3 million and $10 million of annual New Mexico origination. Money-transmitter security compares $300,000 against one percent of yearly New Mexico transmission volume.

Learn more about surety bonds

Universal surety concepts explained once—linked here instead of repeated on every state or bond page.

Frequently asked questions

Do New Mexico electrical and plumbing contractors need different bonds than general contractors?

No. NMSA 1978 § 60-13-49 and 14.6.3 NMAC require a $10,000 proof-of-responsibility bond for CID contractor licenses. Classifications such as EE-98 or MM-98 define authorized work; they do not create separate statewide bond amounts.

Can a New Mexico MLO use the company’s bond?

Yes. Section 58-21B-17 allows a mortgage loan originator who is an employee or exclusive agent of a licensed mortgage loan company to rely on that company’s surety instead of posting a separate individual bond.

What does the CID contractor bond pay for?

Section 60-13-49 and 14.6.3 NMAC limit bond payments to curing division-certified code violations caused by the licensee and not corrected by the licensee. Claims must be made within two years after final inspection or certificate of occupancy, whichever is earlier.

Start your New Mexico bond application

New Mexico will be preselected in the application. Choose the bond type on the next step—we verify the current agency form before anything is issued.

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Last verified 2026-08-11. Official sources are retained with this guide and checked before publication.

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