Chapter 61

Sections 61-29-20 through 61-29-29 NMSA 1978 may be cited as the "Real Estate Recovery Fund Act". History: Laws 1980, ch. 82, § 1; 2022, ch. 39, § 98.

There is created in the state treasury a fund which shall be known as the "real estate recovery fund" to be administered by the real estate commission in accordance with the provisions of the Real Estate Recovery Fund Act [61-29-20 to 61-29-29 NMSA 1978]. All money received by th…

A. The commission shall collect an annual fee not in excess of ten dollars ($10.00) from each real estate licensee prior to the issuance of the next license. B. The commission shall collect from each successful applicant for an original real estate license, in addition to the ori…

requirements; recovery limitations. A. When an aggrieved person claims a pecuniary loss caused by a state-licensed qualifying broker or associate broker based upon fraud, knowing or willful misrepresentation or wrongful conversion of funds entrusted to the qualifying broker or as…

Upon receipt of a petition as required by Section 61-29-23 NMSA 1978, the commission shall conduct a hearing in substantially the same manner and with the same authority as set forth in the Uniform Licensing Act [Chapter 61, Article 1 NMSA 1978]. The commission may compromise a c…

If the commission makes a specific finding of the items enumerated in Section 61- 29-23 NMSA 1978 and determines that a claim should be levied against the real estate recovery fund, the commission shall enter an order requiring payment from the fund of that portion of the petitio…

If at any time the money deposited in the real estate recovery fund is insufficient to satisfy any authorized claim for payment from the fund, the real estate commission shall, when sufficient money has been deposited in the fund, satisfy such unpaid claims in the order that they…

When the commission makes any payment from the real estate recovery fund to a judgment creditor, the commission shall be subrogated to all rights of the judgment creditor for the amounts paid out of the fund and any amount and interest so recovered by the commission shall be depo…

The failure of any person to comply with all of the provisions of the Real Estate Recovery Fund Act [61-29-20 to 61-29-29 NMSA 1978] shall constitute a waiver of any rights pursuant to that act. History: Laws 1980, ch. 82, § 9. ANNOTATIONS

Nothing contained in the Real Estate Recovery Fund Act [61-29-20 to 61-29-29 NMSA 1978] shall limit the authority of the real estate commission to take disciplinary action against a licensee for a violation of any of the provisions of Section 61-29-12 NMSA 1978 or of the rules an…

The provisions of the Criminal Offender Employment Act [28-2-1 to 28-2-6 NMSA 1978] shall govern any consideration of criminal records required or permitted by Sections 61-29-1 through 61-29-18 NMSA 1978. History: 1953 Comp., § 67-24-20.1, enacted by Laws 1974, ch. 78, § 29.

A. The "New Mexico real estate commission" is created. The commission shall be appointed by the governor and shall consist of five members who shall have been residents of the state for three consecutive years immediately prior to their appointment, four of whom shall have been a…

programs; minimum requirements. The commission shall adopt rules providing for continuing education courses in selling, leasing or managing residential, commercial and industrial property as well as courses in basic real estate law and practice and other courses prescribed by the…

liability insurance; minimum coverage. A. In addition to the powers and duties granted to the commission pursuant to the provisions of Sections 61-29-4 and 61-29-4.1 NMSA 1978, the commission may adopt rules that require professional liability insurance coverage and may establish…

attached. The commission is administratively attached to the regulation and licensing department. History: Laws 2001, ch. 163, § 12.

criminal history background checks. A. All applicants for licensure as provided for in Chapter 61, Article 29 NMSA 1978 shall: (1) be required to provide fingerprints only upon initial licensure on two fingerprint cards for submission to the federal bureau of investigation to con…

The commission shall organize by electing a president, vice president and secretary from its members. A majority of the commission shall constitute a quorum and may exercise all powers and duties devolving upon it and do all things necessary to carry into effect the provisions of…

The commission shall meet at least once each quarter-year at such time and place as may be designated by the commission president, and special meetings may be held upon five days' written notice to each of the commission members by the commission president. History: 1953 Comp., §…

Each member of the commission shall receive per diem and mileage as provided in the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978] and shall receive no other compensation, perquisite or allowance. History: 1953 Comp., § 67-24-24, enacted by Laws 1959, ch. 226, § 6; 1963, c…

A. Except as provided in Section 61-1-34 NMSA 1978, the following fees shall be established and charged by the commission and paid into the real estate commission fund: (1) for each examination, a fee established by the commission based on competitive bids for examination service…

A. Licenses shall be granted only to persons who meet the requirements for licensure prescribed by law and are deemed by the commission to be of good repute and competent to transact the business of a qualifying broker or an associate broker in a manner that safeguards the intere…

Chapter 61, Article 30 NMSA 1978 may be cited as the "Real Estate Appraisers Act". History: Laws 1990, ch. 75, § 1; 1992, ch. 54, § 1.

(Repealed effective July 1, 2030.) A. It is unlawful for any person in this state to engage or attempt to engage in the business of developing or communicating real estate appraisals or appraisal reports without first registering as a real estate appraiser trainee or obtaining a …

effective July 1, 2030.) A. Registration as a real estate appraiser trainee shall be granted only to persons who are deemed by the board to be of good repute and competent to render appraisals. B. Each applicant for registration as a real estate appraiser trainee shall have reach…

2030.) A. Licenses shall be granted only to persons who are deemed by the board to be of good repute and competent to render appraisals. B. Each applicant for a license as a state licensed residential real estate appraiser shall have reached the age of majority. C. Each applicant…

estate appraisers. (Repealed effective July 1, 2030.) A. Certified classification shall be granted only to persons who are deemed by the board to be of good repute and competent to render appraisals. B. Each applicant for a state certified residential or general real estate appra…

examination. (Repealed effective July 1, 2030.) A. All applications for registrations, licenses or certificates shall be made to the board in writing, either in person or electronically, shall specify whether registration or a license or a certificate is being applied for by the …

certificates. (Repealed effective July 1, 2030.) A. The board shall issue to each qualified applicant evidence of registration, a license or a certificate in a form and size prescribed by the board. B. The board in its discretion may renew registrations, licenses or certificates …

or certificate. (Repealed effective July 1, 2030.) A. The board, consistent with Section 61-30-7 NMSA 1978, shall refuse to issue or renew a registration, license or certificate or shall suspend or revoke a registration, license or certificate at any time when the applicant, real…

effective July 1, 2030.) A. The board may adopt rules that provide for criminal history background checks for all registrants, certified licensees and licensees to include: (1) requiring criminal history background checks of applicants for registration, certified licensure or lic…

good standing. (Repealed effective July 1, 2030.) A. Each real estate appraiser trainee, state licensed residential real estate appraiser or state certified real estate appraiser shall comply with the generally accepted standards of professional appraisal practice and the general…

A. Except as provided in Section 61-1-34 NMSA 1978, the board shall charge and collect the following fees not to exceed: (1) an application fee for real estate appraiser trainee registration, two hundred dollars ($200); (2) an application fee for a license or residential certific…

(Repealed effective July 1, 2030.) A. There is created in the state treasury the "appraiser fund" to be administered by the board. All fees received by the board pursuant to the Real Estate Appraisers Act and the Appraisal Management Company Registration Act [Chapter 47, Article …

A. The board shall adopt rules providing for continuing education programs that offer courses in real property appraisal, practices and techniques, including basic real estate law and practice. The rules shall require that every real estate appraiser trainee, state licensed resid…

2030.) A. The purpose of the Real Estate Appraisers Act [Chapter 61, Article 30 NMSA 1978] is to provide a comprehensive body of law for the effective regulation and active supervision of the business of developing and communicating real estate appraisals in response to the feder…

July 1, 2030.) A. Pursuant to Title 11 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the board shall issue a registration, license or certificate to a nonresident if the app…

A. Pursuant to Title 11 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the board shall recognize, on a temporary basis, the registration, certification or license of a real e…

effective July 1, 2030.) A. Any person who violates any provision of the Real Estate Appraisers Act is guilty of a misdemeanor and shall be punished by a fine of not more than one thousand dollars ($1,000) or by imprisonment for not more than six months or both. B. In the event a…

effective July 1, 2030.) The real estate appraisers board is terminated effective July 1, 2029. The Real Estate Appraisers Act shall continue in effect until July 1, 2030. Chapter 61, Article 30 NMSA 1978 is repealed effective July 1, 2030. History: 1978 Comp., § 61-30-24, enacte…

As used in the Real Estate Appraisers Act: A. "appraisal" or "real estate appraisal" means an analysis, opinion or conclusion prepared by a real estate appraiser relating to the nature, quality, value or utility of specified interests in or aspects of identified real estate or re…

2030.) A. The board shall administer and enforce the Real Estate Appraisers Act. B. It is unlawful for a person to engage in the business, act in the capacity of, advertise or display in any manner or otherwise assume to engage in the business of, or act as, a real estate apprais…

July 1, 2030.) A. There is created a "real estate appraisers board" consisting of seven members appointed by the governor. The board is administratively attached to the regulation and licensing department. B. There shall be four real estate appraiser members of the board who shal…

As the terms of current members of the real estate appraisers board expire, the governor shall appoint or reappoint members in a way that provides for future terms to be staggered. History: Laws 1999, ch. 283, § 8.

The board shall: A. promulgate rules in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978] to implement the provisions of the Real Estate Appraisers Act; B. establish educational programs and research projects related to the appraisal of real estate; C. establi…

2030.) A. The board shall organize by electing a chair and vice chair from among its members annually. A majority of the board shall constitute a quorum and may exercise all powers and duties established by the provisions of the Real Estate Appraisers Act. B. The board shall keep…

2030.) The board may appoint such committees of the board as may be necessary. A member of the board or a committee shall receive per diem and mileage as provided in the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978] and shall receive no other perquisite, compensation or a…

Chapter 61, Article 31 NMSA 1978 may be cited as the "Social Work Practice Act". History: Laws 1989, ch. 51, § 1; 2006, ch. 4, § 1.

The date and location of the social work licensure examination shall be established by the board. Applicants who have been found to meet the education and experience requirements for licensure shall be scheduled for the next examination following the filing of the application. Th…

Prior to examination, an applicant for licensure who holds a bachelor's degree or master's degree in social work may obtain a provisional license to engage in social work practice as long as the applicant meets all the requirements, except examination, pursuant to the Social Work…

A. Upon application of an out-of-state licensed social worker, the board shall license a qualified applicant for the licensure level sought as provided in Section 61-1-31.1 NMSA 1978. B. The board shall process the application as soon as practicable but no later than thirty days …