SENATE BILL 58

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Joseph A. Fidel

AN ACT

RELATING TO THE NEW MEXICO REAL ESTATE COMMISSION; REVISING RESIDENCY REQUIREMENTS FOR MEMBERS OF THE COMMISSION; AMENDING A SECTION OF THE NMSA 1978.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 61-29-4 NMSA 1978 (being Laws 1959, Chapter 226, Section 3, as amended by Laws 2003, Chapter 22, Section 1 and by Laws 2003, Chapter 408, Section 30) is amended to read:

     "61-29-4. CREATION OF COMMISSION--POWERS AND DUTIES.--          A. There is created the "New Mexico real estate commission". 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 real estate brokers licensed in New Mexico and one of whom shall be a member of the public who has never been licensed as a real estate broker or salesperson. [provided] Not more than [one member shall be from] two licensed broker members shall reside in any one county within the state. The public member may reside in any county within the state. The members of the commission shall serve for a period of five years or until their successors are appointed and qualified. Members to fill vacancies shall be appointed for an unexpired term. The governor may remove a member for cause.

          B. The commission shall possess all the powers and perform all the duties prescribed by Chapter 61, Article 29 NMSA 1978 and as otherwise provided by law, and it is expressly vested with power and authority to make and enforce rules and regulations to carry out the provisions of that article. Prior to a final action on a proposed change or amendment to the rules and regulations of the commission, the commission may publish notice of the proposed action in its official publication, distribute the publication to each active licensee and give the time and place for a public hearing on the proposed changes. The hearing shall be held at least thirty days prior to a proposed final action. Changes or amendments to the rules shall be filed in accordance with the procedures of the State Rules Act and shall become effective thirty days after notification to all active licensees of the filing of the changes or amendments."

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