AN ACT
RELATING TO REAL ESTATE APPRAISERS; CLARIFYING THAT
REGISTRATION IS FOR STATE APPRENTICE REAL ESTATE APPRAISERS; PROVIDING
QUALIFICATIONS FOR ALL LEVELS OF REAL ESTATE APPRAISERS; BROADENING CONTINUING
EDUCATION REQUIREMENTS; INCREASING LICENSE AND OTHER FEES; PRESCRIBING
PENALTIES; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 61-30-3 NMSA 1978 (being Laws 1990,
Chapter 75, Section 3, as amended) is amended to read:
"61‑30‑3. DEFINITIONS.‑‑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 real property, for or in expectation of
compensation, and shall include the following:
(1) a valuation, analysis, opinion or conclusion
prepared by a real estate appraiser that estimates the value of identified real
estate or real property; and
(2) an analysis or study of real estate or real
property other than estimating value;
B. "appraisal assignment" means an
engagement for which an appraiser is employed or retained to act or would be
perceived by third parties or the public as acting as a disinterested third
party in rendering an unbiased appraisal;
C. "appraisal foundation" means the
appraisal foundation incorporated as an Illinois not‑for‑profit
corporation on November 30, 1987 and to which reference is made in the federal
real estate appraisal reform amendments;
D. "appraisal report" means any
communication, written or oral, of an appraisal regardless of title or
designation and all other reports communicating an appraisal;
E. "board" means the real estate
appraisers board;
F. "certified appraisal" or
"certified appraisal report" means an appraisal or appraisal report given
or signed and certified as such by a state certified real estate appraiser and
shall include an indication of which type of certification is held and shall be
deemed to represent to the public that it meets the appraisal standards defined
in the Real Estate Appraisers Act;
G. "federal real estate appraisal reform
amendments" means the federal Financial Institutions Examination Council
Act of 1978, as amended by Title 11, Real Estate Appraisal Reform Amendments;
H. "general certificate" or
"general certification" means a certificate or certification for
appraisals of all types of real estate issued pursuant to the provisions of the
Real Estate Appraisers Act and the federal real estate appraisal reform
amendments;
I. "real estate" or "real
property" means leasehold or other estate or interest in, over or under
land, including structures, fixtures and other improvements and interests that
by custom, usage or law pass with a conveyance of land, though not described in
a contract of sale or instrument of conveyance, and includes parcels with or
without upper and lower boundaries and spaces that may be filled with air;
J. "real estate appraiser" means any
person who engages in real estate appraisal activity in expectation of
compensation;
K. "residential certificate" or
"residential certification" means a certificate or certification,
limited to appraisals of residential real estate or residential real property
without regard to the complexity of the transaction, issued pursuant to the
provisions of the Real Estate Appraisers Act and as provided under the terms of
the federal real estate appraisal reform amendments;
L. "residential real estate" or
"residential real property" means real estate designed and suited or
intended for use and occupancy by one to four families, including use and
occupancy of manufactured housing;
M. "specialized services" means those
services that do not fall within the definition of an appraisal assignment and
may include specialized financing or market analyses and feasibility studies
that may incorporate estimates of value or analyses, opinions or conclusions
given in connection with activities such as real estate brokerage, mortgage
banking, real estate counseling and real estate tax counseling, provided that
the person rendering such services would not be perceived by third parties or
the public as acting as a disinterested third party in rendering an unbiased
appraisal or real estate appraisal, regardless of the intention of the client
and that person;
N. "state certified appraisal" means
any appraisal that is identified as a state certified appraisal report or is in
any way described as being prepared by a state certified real estate appraiser;
O. "state certified real estate
appraiser" means a person who holds a current, valid general certificate
or a current, valid residential certificate issued pursuant to the provisions
of the Real Estate Appraisers Act;
P. "state licensed real estate
appraiser" means a person who holds a current, valid license issued
pursuant to the provisions of the Real Estate Appraisers Act; and
Q. "state apprentice real estate
appraiser" means a person who holds a current, valid registration issued
pursuant to the provisions of the Real Estate Appraisers Act."
Section 2. Section 61-30-4 NMSA 1978 (being Laws 1990,
Chapter 75, Section 4, as amended) is amended to read:
"61-30-4. ADMINISTRATION--ENFORCEMENT.--
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 state apprentice
real estate appraiser, state licensed real estate appraiser or state certified
real estate appraiser without a license issued by the board. A person who engages in the business or acts
in the capacity of a state apprentice real estate appraiser, state licensed
real estate appraiser or state certified real estate appraiser has submitted to
the jurisdiction of the state and to the administrative jurisdiction of the
board, notwithstanding any other provisions or statutes governing all
professional and occupational licenses."
Section 3. Section 61-30-5 NMSA 1978 (being Laws 1990,
Chapter 75, Section 5, as amended) is amended to read:
"61‑30‑5. REAL ESTATE APPRAISERS BOARD CREATED.‑‑
A. There is created a "real estate
appraisers board" consisting of seven members.
B. There shall be four real estate appraiser
members of the board who shall be licensed or certified. Membership in a professional appraisal
organization or association shall not be a prerequisite to serve on the
board. No more than two real estate
appraiser members shall be from any one licensed or certified category.
C. Board members shall be appointed to five-year
terms and shall serve until their successor is appointed and qualified. Real estate appraiser members may be appointed
for no more than two consecutive five-year terms.
D. No more than two members shall be from any
one county within New Mexico, and at least one real estate appraiser member
shall be from each congressional district.
E. One member of the board shall represent
lenders or their assignees engaged in the business of lending funds secured by
mortgages. Two members shall be
appointed to represent the public. The
public members shall not have been real estate appraisers or engaged in the
business of real estate appraisals or have any financial interest, direct or
indirect, in real estate appraisal or any real-estate-related business.
F. Vacancies on the board shall be filled by
appointment by the governor for the unexpired term within sixty days of the
vacancy.
G. The board is administratively attached to the
regulation and licensing department."
Section 4. Section 61-30-7 NMSA 1978 (being Laws 1990,
Chapter 75, Section 7, as amended) is amended to read:
"61‑30‑7. BOARD‑‑POWERS‑‑DUTIES.‑‑The
board shall:
A. adopt rules necessary 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. establish the administrative procedures for
processing applications and issuing registrations, licenses and certificates to
persons who qualify to be state apprentice real estate appraisers, state
licensed real estate appraisers or state certified real estate appraisers;
D. receive, review and approve applications for state
apprentice real estate appraisers, state licensed real estate appraisers and
each category of state certified real estate appraisers and, for state licensed
or state certified real estate appraisers, prepare or supervise the preparation
of examination questions and answers and supervise grading of examinations and
enter into contracts with one or more educational testing services or
organizations for such examinations;
E. define the extent and type of educational
experience, appraisal experience and equivalent experience that will meet the
requirements for registration, licensing and certification under the Real
Estate Appraisers Act after considering generally recognized appraisal
practices and set minimum requirements for education and experience;
F. provide for continuing education programs for
the renewal of registrations, licenses and certification that will meet the
requirements provided in the Real Estate Appraisers Act and set minimum
requirements;
G. adopt standards to define the education
programs that will meet the requirements of the Real Estate Appraisers Act and
will encourage conducting programs at various locations throughout the state;
H. adopt standards for the development and
communication of real estate appraisals provided in the Real Estate Appraisers
Act and adopt rules explaining and interpreting the standards after considering
generally recognized appraisal practices;
I. adopt a code of professional responsibility
for state apprentice real estate appraisers, state licensed real estate
appraisers and state certified real estate appraisers;
J. comply with annual reporting requirements and
other requirements set forth in the federal real estate appraisal reform
amendments;
K. maintain a registry of the names and
addresses of the persons who hold current registrations, licenses and
certificates issued under the Real Estate Appraisers Act;
L. establish procedures for disciplinary action
in accordance with the Uniform Licensing Act against any applicant or holder of
a registration, license or certificate for violations of the Real Estate
Appraisers Act and any rules adopted pursuant to provisions of that act; and
M. perform such other functions and duties as
may be necessary to carry out the provisions of the Real Estate Appraisers
Act."
Section 5. Section 61-30-8 NMSA 1978 (being Laws 1990,
Chapter 75, Section 8, as amended) is amended to read:
"61‑30‑8. BOARD‑‑ORGANIZATION‑‑MEETINGS.‑‑
A. The board shall organize by electing a
chairperson, vice chairperson and secretary 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 a record of its
proceedings, a register of persons registered, licensed or certified as state
apprentice real estate appraisers, state licensed real estate appraisers or
state certified real estate appraisers, showing the name and places of business
of each, and retain all records and applications submitted to the board
pursuant to the Real Estate Appraisers Act.
C. The board shall meet not less frequently than
once each calendar quarter at such place as may be designated by the board, and
special meetings may be held on five days' written notice to each of the
members by the chairperson. At least
annually, the board shall meet in each of the congressional districts."
Section 6. Section 61-30-9 NMSA 1978 (being Laws 1990,
Chapter 75, Section 9, as amended) is amended to read:
"61-30-9. REIMBURSEMENT AND EXPENSES.--The board may
appoint such committees of the board as may be necessary. Each member of the board or any committee
shall receive per diem and mileage as provided in the Per Diem and Mileage Act
and shall receive no other perquisite, compensation or allowance. Compensation for employees, investigative
contractors or consultants and any necessary supplies and equipment shall be
paid from the appraiser fund."
Section 7. Section 61-30-10 NMSA 1978 (being Laws 1990,
Chapter 75, Section 10, as amended) is amended to read:
"61‑30‑10. REGISTRATION, LICENSE OR CERTIFICATION
REQUIRED‑‑EXCEPTIONS.‑‑
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 an
apprentice or obtaining a license or certificate from the board under the
provisions of the Real Estate Appraisers Act.
B. No person, unless certified by the board as a
state certified real estate appraiser under a general certification or residential
certification, shall:
(1) assume or use any title, designation or
abbreviation likely to create the impression of a state certified real estate
appraiser;
(2) use the term "state certified" to
describe or refer to any appraisal or evaluation of real estate prepared by
him;
(3) assume or use any title, designation or
abbreviation likely to create the impression of certification as a state
certified real estate appraiser firm, partnership, corporation or group; or
(4) assume or use any title, designation or
abbreviation likely to create the impression of certification under a general
certificate or describe or refer to any appraisal or evaluation of
nonresidential real estate by the term "state certified" if the preparer's
certification is limited to residential real estate.
C. A state apprentice real estate appraiser who
is registered but does not hold a license or certificate is authorized to
prepare appraisals of all types of real estate or real property, provided such
appraisals are not described or referred to as being prepared by a "state
certified real estate appraiser" holding a residential or general
certificate or by a "state licensed real estate appraiser" and
provided, further, such person does not assume or use any title, designation or
abbreviation likely to create the impression of certification as a state
certified real estate appraiser or licensure as a state licensed real estate
appraiser.
D. A holder of a license or residential
certificate is authorized to prepare appraisals of nonresidential real estate,
provided such appraisals are not described or referred to as "state
certified by a general certified appraiser" and provided, further, the
holder of the certificate does not assume or use any title, designation or
abbreviation likely to create the impression of general certification.
E. To perform in federally related transactions,
as referenced in the federal Financial Institutions Reform, Recovery and
Enforcement Act, a real estate appraiser shall, at a minimum, meet the
requirements for licensing as currently defined.
F. The requirement of registration, licensing or
certification shall not apply to a real estate broker or salesperson who, in
the ordinary course of business, gives an opinion of the price or value of real
estate for the purpose of securing a listing, marketing of real property,
affecting a sale, lease or exchange, conducting market analyses or rendering
specialized services; provided, however, this opinion of the price or value
shall not be referred to or construed as an appraisal or appraisal report and no
compensation, fee or other consideration is expected or charged for such
opinion, other than the real estate brokerage commission or fee for services
rendered in connection with the identified real estate or real property.
G. The requirement of registration, licensing or
certification shall not apply to real estate appraisers of the property tax
division of the taxation and revenue department, to a county assessor or to the
county assessor's employees, who as part of their duties are required to engage
in real estate appraisal activity as a county assessor or on behalf of the
county assessor and no additional compensation fee or other consideration is
expected or charged for such appraisal activity, other than such compensation
as is provided by law.
H. The prohibition of Subsection A of this
section does not apply to persons whose real estate appraisal activities are
limited to the appraisal of interests in minerals, including oil, natural gas,
liquid hydrocarbons or carbon dioxide, and property held or used in connection
with mineral property, if that person is authorized in his state of residence
to practice and is actually engaged in the practice of the profession of
engineering or geology.
I. The process of analyzing, without altering,
an appraisal report that is part of a request for mortgage credit is considered
a specialized service as defined in Subsection M of Section 61-30-3 NMSA 1978
and is exempt from the requirements of registration, licensing or
certification."
Section 8. Section 61-30-10.1 NMSA 1978 (being Laws
1992, Chapter 54, Section 8, as amended) is amended to read:
"61-30-10.1. QUALIFICATION FOR STATE APPRENTICE REAL
ESTATE APPRAISERS.--
A. Registration as a state apprentice real
estate appraiser 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 state
apprentice real estate appraiser shall be a legal resident of the United
States, except as otherwise provided in Section 61‑30‑20 NMSA 1978,
and have reached the age of majority.
C. Each applicant for registration as a state
apprentice real estate appraiser shall have the education requirements as
established for the apprentice classification issued by the appraiser
qualifications board of the appraisal foundation and adopted by rule pursuant
to the Real Estate Appraisers Act.
D. The board shall require such information as
it deems necessary from every applicant to determine the applicant's honesty,
trustworthiness and competency."
Section 9. Section 61-30-11 NMSA 1978 (being Laws 1990,
Chapter 75, Section 11, as amended) is amended to read:
"61‑30‑11. QUALIFICATIONS FOR LICENSE.‑‑
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 real estate appraiser shall be a legal resident of the United States,
except as otherwise provided in Section 61‑30‑20 NMSA 1978, and
have reached the age of majority.
C. Each applicant for a license as a state
licensed real estate appraiser shall have additional experience and education
requirements as established for the licensed classification issued by the
appraiser qualifications board of the appraisal foundation and adopted by rule
pursuant to the Real Estate Appraisers Act.
D. The board shall require such information as
it deems necessary from every applicant to determine the applicant's honesty,
trustworthiness and competency.
E. Persons who do not meet the qualifications
for licensure are not qualified for appraisal assignments involving federally
related transactions."
Section 10. Section 61-30-12 NMSA 1978 (being Laws 1990,
Chapter 75, Section 12, as amended) is amended to read:
"61‑30‑12. QUALIFICATIONS FOR CERTIFICATE.‑‑
A. Certificates 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 certificate as a state
certified real estate appraiser shall be a legal resident of the United States,
except as otherwise provided in Section 61‑30‑20 NMSA 1978, and
have reached the age of majority.
C. Each applicant for a residential certificate
as a state certified real estate appraiser shall have performed actively as a
real estate appraiser and shall have additional experience and education
requirements as established for the residential certification classification
issued by the appraiser qualifications board of the appraisal foundation and
adopted by rule pursuant to the Real Estate Appraisers Act.
D. Each applicant for a general certificate as a
state certified real estate appraiser shall have performed actively as a real
estate appraiser and have additional experience and education requirements as
established for the general certification classification issued by the
appraiser qualifications board of the appraisal foundation and adopted pursuant
to the Real Estate Appraisers Act.
E. The board shall require such information as
it deems necessary from every applicant to determine the applicant's honesty,
trustworthiness and competency."
Section 11. Section 61-30-13 NMSA 1978 (being Laws 1990,
Chapter 75, Section 13, as amended) is amended to read:
"61‑30‑13. APPLICATION FOR REGISTRATION, LICENSE OR
CERTIFICATE--EXAMINATION.‑‑
A. All applications for registrations, licenses
or certificates shall be made to the board in writing, shall specify whether
registration or a license or a certificate is being applied for by the
applicant and, if a certificate, the classification of the certificate being
applied for by the applicant and shall contain such data and information as may
be required by the board.
B. Each applicant for a license or a certificate
shall demonstrate by successfully passing a written examination, prepared by or
under the supervision of the board, that the applicant possesses, consistent
with licensure or the certification sought, the following:
(1) an appropriate knowledge of technical terms
commonly used in or related to real estate appraising, appraisal report writing
and economic concepts applicable to real estate;
(2) a basic understanding of real estate law;
(3) an adequate knowledge of theory and
techniques of real estate appraisal;
(4) an understanding of the principles of land
economics, real estate appraisal processes and problems likely to be
encountered in the gathering, interpreting and processing of data in carrying
out appraisal disciplines;
(5) an understanding of the standards for the
development and communication of real estate appraisals as provided in the Real
Estate Appraisers Act;
(6) knowledge of theories of depreciation, cost
estimating, methods of capitalization and the mathematics of real estate
appraisal that are appropriate for the classification of certificate applied
for by the applicant;
(7) knowledge of other principles and procedures
as may be appropriate for the respective classification; and
(8) an understanding of the types of misconduct
for which disciplinary proceedings may be initiated against a state apprentice
real estate appraiser, state licensed real estate appraiser or state certified
real estate appraiser as set forth in the Real Estate Appraisers Act.
C. The examination shall be given at least four
times each calendar year at such times and places within the state as the board
prescribes. The board shall make a
reasonable effort to conduct examinations in each congressional district. Notice of passing or failing the examination
shall be given by the board to each applicant not later than forty-five days
following the date of the examination.
D. An applicant for a license or a certificate
who fails to successfully complete the written examination may apply for a
reexamination for a license or certificate upon compliance with such conditions
as set forth in the rules adopted by the board pursuant to the provisions of
the Real Estate Appraisers Act."
Section 12. Section 61-30-14 NMSA 1978 (being Laws 1990,
Chapter 75, Section 14, as amended) is amended to read:
"61‑30‑14. ISSUANCE AND RENEWAL OF REGISTRATION,
LICENSES AND CERTIFICATES.‑‑
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 for periods of one, two or three years
for the purpose of coordinating continuing education requirements with
registration, license or certificate renewal requirements.
C. Each registration, license or certificate
holder shall submit proof of compliance with continuing education requirements
and the renewal fee.
D. At the election of eligible holders of a
registration, license or certificate who perform or seek to perform appraisals
in federally related transactions under the federal real estate appraisal
reform amendments, each application for renewal shall include payment of a registry
fee set by the federal financial institutions examination council. The registry fee shall be transmitted by the
board to the federal financial institutions examination council. Notice of whether the state apprentice real
estate appraiser, state licensed real estate appraiser or state certified real
estate appraiser has paid the federal registry fee and is thus eligible to
perform in federally related transactions shall be included on the face of each
registration, license and certificate issued by the board.
E. The board shall certify renewal of each
registration, license or certificate in the absence of any reason or condition
that might warrant the refusal of the renewal of a registration, license or
certificate.
F. In the event any registration, license or
certificate holder fails to properly apply for renewal of the registration,
license or certificate within the thirty days immediately following his
registration, license or certificate renewal date of any given year, the
registration, license or certificate shall expire thirty days following the
renewal date.
G. The board may renew an expired registration
upon application, payment of the current annual renewal fee, submission of
proof of compliance with continuing education requirements and payment of a
reinstatement fee in the amount not to exceed two hundred dollars ($200), in
addition to any other fee permitted under the Real Estate Appraisers Act.
H. The board may renew an expired license or
certificate upon application, payment of the current annual renewal fee,
submission of proof of compliance with continuing education requirements and
payment of the reinstatement fee, in addition to any other fee permitted under
the Real Estate Appraisers Act; provided that the board may, in the board's
discretion, treat the former certificate holder as a new applicant and further
may require reexamination as a condition to reissuance of a certificate.
I. If during a period of one year from the date
a registration, license or certificate expires, the registration, license or
certificate holder is either absent from this state on active duty military
service or is suffering from an illness or injury of such severity that the
person is physically or mentally incapable of renewal of the registration,
license or certificate, payment of the reinstatement fee and, in the case of a
license or certificate holder, reexamination shall not be required by the board
if, within three months of the person's permanent return to this state or
sufficient recovery from illness or injury to allow the person to make an
application, the person makes application to the board for renewal. A copy of the person's military orders or a
certificate of the applicant's physician shall accompany the application.
J. The board may adopt additional requirements
by rule for the issuance or renewal of registrations, licenses or certificates
to maintain or upgrade real estate appraiser qualifications at a level no less
than the recommendations of the appraiser qualifications board of the appraisal
foundation or the requirements of the appraisal subcommittee."
Section 13. Section 61-30-15 NMSA 1978 (being Laws 1990,
Chapter 75, Section 15, as amended) is amended to read:
"61‑30‑15. REFUSAL, SUSPENSION OR REVOCATION OF
REGISTRATION, LICENSE OR CERTIFICATE.‑‑
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, state apprentice real
estate appraiser, state licensed real estate appraiser or state certified real
estate appraiser, in performing or attempting to perform any of the actions set
forth in the Real Estate Appraisers Act, is determined by the board to have:
(1) procured or attempted to procure a
registration, license or certificate by knowingly making a false statement or
submitting false information or through any form of fraud or misrepresentation;
(2) refused to provide complete information in
response to a question in an application for registration, a license or
certificate or failed to meet the minimum qualifications established by the
Real Estate Appraisers Act;
(3) paid money, other than as provided for in the
Real Estate Appraisers Act, to any member or employee of the board to procure
registration, a license or a certificate;
(4) been convicted of a crime that is
substantially related to the qualifications, functions and duties of the person
developing real estate appraisals and communicating real estate appraisals to
others;
(5) committed an act involving dishonesty, fraud
or misrepresentation or by omission engaged in a dishonest or fraudulent act or
misrepresentation with the intent to substantially benefit the registration,
license or certificate holder or another person or with the intent to
substantially injure another person;
(6) willfully disregarded or violated any of the
provisions of the Real Estate Appraisers Act or the rules of the board adopted
pursuant to that act;
(7) accepted an appraisal assignment when the
employment itself is contingent upon the real estate appraiser reporting a
predetermined analysis or opinion or where the fee to be paid for the
performance of the appraisal assignment is contingent upon the opinion,
conclusion or valuation reached or upon the consequences resulting from the
appraisal assignment; provided that a contingent fee agreement is permitted for
the rendering of special services not constituting an appraisal assignment and
the acceptance of a contingent fee is clearly and prominently stated on the
written appraisal report;
(8) suffered the entry of a final civil judgment
on the grounds of fraud, misrepresentation or deceit in the making of an
appraisal; provided that the state apprentice real estate appraiser, state
licensed real estate appraiser or state certified real estate appraiser shall
be afforded an opportunity to present matters in mitigation and extenuation,
but may not collaterally attack the civil judgment; or
(9) committed any other conduct that is related
to dealings as a state apprentice real estate appraiser, state licensed real
estate appraiser or state certified real estate appraiser and that constitutes
or demonstrates bad faith, untrustworthiness, impropriety, fraud, dishonesty or
any unlawful act.
B. The board, consistent with Section
61-30-7 NMSA 1978, shall refuse to issue or renew a
registration, license or certificate and shall suspend or revoke a
registration, license or certificate at any time when the board determines that
the applicant or state apprentice real estate appraiser, state licensed real
estate appraiser or state certified real estate appraiser, in the performance
of real estate appraisal work, has:
(1) repeatedly failed to observe one or more of
the standards for the development or communication of real estate appraisals
set forth in the rules adopted pursuant to the Real Estate Appraisers Act;
(2) repeatedly failed or refused, without good
cause, to exercise reasonable diligence in developing an appraisal, preparing
an appraisal report or communicating an appraisal;
(3) repeatedly been negligent or incompetent in
developing an appraisal, in preparing an appraisal report or in communicating
an appraisal; or
(4) violated the confidential nature of records
to which the state apprentice real estate appraiser, state licensed real estate
appraiser or state certified real estate appraiser gained access through
employment or engagement as such an appraiser.
C. The action of the board relating to the
issuance, suspension or revocation of any registration, license or certificate
shall be governed by the provisions of the Uniform Licensing Act. The board shall participate in any hearings
required or conducted by the board pursuant to the provisions of the Uniform
Licensing Act.
D. The provisions of the Criminal Offender
Employment Act shall govern any consideration of criminal records required or
permitted under the Real Estate Appraisers Act.
E. Nothing in the Real Estate Appraisers Act
shall be construed to preclude any other remedies otherwise available under
common law or statutes of this state."
Section 14. Section 61-30-16 NMSA 1978 (being Laws 1990,
Chapter 75, Section 16, as amended) is amended to read:
"61‑30‑16. STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE‑‑CERTIFICATE
OF GOOD STANDING.‑‑
A. Each state apprentice real estate appraiser,
state licensed real estate appraiser or state certified real estate appraiser
shall comply with generally accepted standards of professional appraisal
practice and generally accepted ethical rules to be observed by a real estate
appraiser. Generally accepted standards
of professional appraisal practice are currently evidenced by the uniform
standards of professional appraisal practice promulgated by the appraisal
foundation and as adopted by rule pursuant to provisions of the Real Estate
Appraisers Act.
B. The board, upon payment of a fee in an amount
specified in its rules, may issue a certificate of good standing to any real
estate appraiser who is in good standing in accordance with the Real Estate
Appraisers Act."
Section 15. Section 61-30-17 NMSA 1978 (being Laws 1990,
Chapter 75, Section 17, as amended) is amended to read:
"61‑30‑17. FEES.‑‑The board shall charge and
collect the following fees not to exceed:
A. an application fee for a registration, two
hundred dollars ($200);
B. an application fee for a license or
residential certification, four hundred dollars ($400);
C. an application fee for general certification,
five hundred dollars ($500);
D. an examination fee for general and
residential certification or license, two hundred dollars ($200);
E. a registration renewal fee, two hundred fifty
dollars ($250);
F. a certificate renewal fee for residential
certification, or license renewal, four hundred fifty dollars ($450);
G. a certificate renewal fee for general
certification, five hundred dollars ($500);
H. the registry fee as required by the federal
real estate appraisal reform amendments;
I. for registration for temporary practice, two
hundred dollars ($200);
J. for each duplicate registration, license or
certificate issued because a registration, license or certificate is lost or
destroyed and an affidavit as to its loss or destruction is made and filed,
fifty dollars ($50.00); and
K. fees to cover reasonable and necessary
administrative expenses."
Section 16. Section 61-30-19 NMSA 1978 (being Laws 1990,
Chapter 75, Section 19, as amended) is amended to read:
"61‑30‑19. CONTINUING EDUCATION.‑‑
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 state
apprentice real estate appraiser, state licensed real estate appraiser or state
certified real estate appraiser, as a condition to renewal, shall successfully
complete the continuing education requirements approved by the board.
B. The rules shall prescribe areas of specialty
or expertise relating to registration, licenses and the type of certificate
held and may require that a certain part of continuing education be devoted to
courses in the area of the state apprentice real estate appraiser's, state
licensed real estate appraiser's or state certified real estate appraiser's
specialty or expertise. The rules shall
also permit state apprentice real estate appraisers, state licensed real estate
appraisers or state certified real estate appraisers to meet the continuing
education requirements by participation other than as a student in educational
processes and programs in real property appraisal theory, practices and
techniques by instructing or preparing educational materials."
Section 17. Section 61-30-20 NMSA 1978 (being Laws 1990,
Chapter 75, Section 20, as amended) is amended to read:
"61‑30‑20. NONRESIDENT APPLICANTS‑‑RECIPROCITY.‑‑
A. The board shall issue a registration, license
or certificate to a nonresident, provided that state's requirements for
registration, licensing or certification are the same or similar to the
requirements set forth in the Real Estate Appraisers Act. In the event that the other state's
requirements are not similar or cannot be verified, a qualifying nonresident
applicant may become a state apprentice real estate appraiser, state licensed
real estate appraiser or state certified real estate appraiser by conforming to
all conditions of the Real Estate Appraisers Act. Examinations taken in other states are
acceptable in New Mexico at the board's discretion if the exam was at the
appropriate level and approved by the appraisal foundation. If it is beneficial to New Mexico state
apprentice real estate appraisers, state licensed real estate appraisers or
state certified real estate appraisers, the board may negotiate agreements with
other states allowing reciprocity. The
registration, license or certificate shall be issued upon payment of the
application fee, verification that the applicant has complied with his resident
state's current education requirements and the filing with the board of a
license history and verification of good standing issued by the licensing board
of the other state.
B. The applicant shall file an irrevocable
consent that suits and actions may be commenced against him in the proper court
of any county of this state in which a cause of action may arise from his
actions as a state apprentice real estate appraiser, state licensed real estate
appraiser or state certified real estate appraiser or in which the plaintiff
may reside, by the service of any processes or pleadings authorized by the laws
of this state on the board, the consent stipulating and agreeing that such service
of processes or pleadings on the board shall be taken and held in all courts to
be as valid and binding as if personal service has been made upon the applicant
in New Mexico. In case any process or
pleading mentioned in the case is served upon the board, it shall be by
duplicate copies, one of which shall be filed in the office of the board and
the other immediately forwarded by registered mail to the nonresident state
apprentice real estate appraiser, state licensed real estate appraiser or state
certified real estate appraiser to whom the processes or pleadings are
directed."
Section 18. Section 61-30-21 NMSA 1978 (being Laws 1990,
Chapter 75, Section 21, as amended) is amended to read:
"61‑30‑21. TEMPORARY PRACTICE.‑‑
A. The board shall recognize, on a temporary
basis, the registration, certification or license of a real estate appraiser
issued by another state if:
(1) the real estate appraiser's business is of a
temporary nature and certified by the real estate appraiser not to exceed six
months; and
(2) the real estate appraiser registers the
temporary practice with the board.
B. The applicant or any person registering with
the board for temporary practice shall file an irrevocable consent that suits
and actions may be commenced against him in the proper court of any county of
this state in which a cause of action may arise from his actions as a state
apprentice real estate appraiser, state licensed real estate appraiser or state
certified real estate appraiser or in which the plaintiff may reside, by the
service of any processes or pleadings authorized by the laws of this state on
the board, the consent stipulating and agreeing that such service of processes
or pleadings on the board shall be taken and held in all courts to be as valid
and binding as if personal service had been made upon the applicant in New
Mexico. In case any process or pleading
mentioned in the case is served upon the board, it shall be by duplicate
copies, one of which shall be filed in the office of the board and the other
immediately forwarded by registered mail to the nonresident state apprentice
real estate appraiser, state licensed real estate appraiser or state certified
real estate appraiser to whom the processes or pleadings are directed."
Section 19. Section 61-30-22 NMSA 1978 (being Laws 1990,
Chapter 75, Section 22, as amended) is amended to read:
"61-30-22. CIVIL AND CRIMINAL PENALTIES--INJUNCTIVE
RELIEF.--
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 any person has engaged in or
proposes to engage in any act or practice violating a provision of the Real
Estate Appraisers Act, the attorney general or the district attorney of the
judicial district in which the person resides or the judicial district in which
the violation has occurred or will occur shall, upon application of the board,
maintain an action in the name of the state to prosecute the violation or to
enjoin the proposed act or practice.
C. The board may impose a civil penalty in an
amount not to exceed one thousand dollars ($1,000) for each violation of the
Real Estate Appraisers Act and assess administrative costs for any
investigation and administrative or other proceedings against a state
apprentice real estate appraiser, state licensed real estate appraiser or state
certified real estate appraiser or against any person who is found, through an
administrative proceeding, to have acted without a license. Appeals from decisions of the board shall be
taken as provided in Section 39-3-1.1 NMSA 1978."
Section 20. EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2003.