TITLE 16 OCCUPATIONAL AND PROFESSIONAL LICENSING

CHAPTER 61 REAL ESTATE BROKERS

PART 2 LICENSE AND OTHER FEES

16.61.2.1 ISSUING AGENCY: New Mexico Real Estate Commission.

[16.61.2.1 NMAC - Rp, 16 NMAC 61.2.1, 1-1-2002]

16.61.2.2 SCOPE: The provisions in Part 2 of Chapter 61 apply to all licensed brokers; applicants for broker licensure in New Mexico; anyone wishing to purchase broker mailing lists, mailing labels, or license law and rules booklets; anyone who requests a written verification of licensure to be completed by the commission; or anyone seeking commission approval as a sponsor or instructor to offer courses for real estate pre-licensing or continuing education credit.

[16.61.2.2 NMAC - Rp, 16 NMAC 61.2.2, 1-1-2002; A, 1-1-2006]

16.61.2.3 STATUTORY AUTHORITY: Part 2 of Chapter 61 is promulgated pursuant to the Real Estate Licensing Law, Section 61-29-4 NMSA 1978.

[16.61.2.3 NMAC - Rp, 16 NMAC 61.2.3, 1-1-2002]

16.61.2.4 DURATION: Permanent.

[16.61.2.4 NMAC - Rp, 16 NMAC 61.2.4, 1-1-2002]

16.61.2.5 EFFECTIVE DATE: 1-1-2000, unless a later date is cited at the end of a section.

[16.61.2.5 NMAC - Rp, 16 NMAC 61.2.5, 1-1-2002]

16.61.2.6 OBJECTIVE: The objective of Part 2 of Chapter 61 is to establish the fees to generate sufficient revenues required by the commission to carry out its administrative functions.

[16.61.2.6 NMAC - Rp, 16 NMAC 61.2.6, 1-1-2002]

16.61.2.7 DEFINITIONS: Refer to Definitions, 16.61.1.7 NMAC.

[16.61.2.7 NMAC - Rp, 16 NMAC 61.2.7, 1-1-2002]

16.61.2.8 FEES:

A. For each examination, a fee not to exceed ninety-five dollars ($95.00).

B. For each broker's license issued, and for each renewal thereof, a fee not to exceed two hundred seventy dollars ($270.00).

C. For each license transferred, a fee not to exceed twenty dollars ($20.00). If there are eleven or more affected licenses in the brokerage, the total transfer fee paid shall not exceed two hundred dollars ($200.00).

D. For each duplicate license, where the license is lost or destroyed and affidavit is made thereof, a fee not to exceed twenty dollars ($20.00).

E. For each license history, a fee not to exceed twenty-five dollars ($25.00).

F. For copying of documents by the commission a fee not to exceed one dollar ($1.00) per copy.

G. For each state of New Mexico real estate license law and rules manual a fee not to exceed ten dollars ($10.00).

H. For each hard copy or electronic list of licensed real estate brokers, a fee not to exceed fifty dollars ($50.00).

I. For each initial broker's license, and for the renewal thereof, a fee not to exceed ten dollars ($10.00) shall be credited to the real estate recovery fund pursuant to Section 61-29-22 NMSA 1978 if in the commission's judgment the assessment of such fee is necessary to maintain the fund at its statutory minimum level.

J. For each application to the commission to become an approved sponsor of real estate pre-licensing and continuing education courses, a fee not to exceed five hundred dollars ($500.00) and for each renewal thereof a fee not to exceed five hundred dollars ($500.00).

K. For each application to the commission to become approved to instruct a currently approved pre-licensing or continuing education course, a fee not to exceed seventy dollars ($70.00) per course. For each application to the commission to renew certification as a commission approved instructor of real estate pre-licensing or continuing education courses, a fee not to exceed one hundred dollars ($100.00).]

L. For each application to the commission for approval of a new pre-licensing and continuing education course, a fee not to exceed fifty dollars ($50.00) plus two dollars ($2.00) for each credit hour up to a maximum of 10 credit hours. For applications to the commission for bulk course approval, defined as five or more courses at a single committee meeting, a reduced fee not to exceed twenty-five dollars ($25.00) per course plus one dollar ($1.00) for each credit hour up to a maximum of 10 credit hours.

[16.61.2.8 NMAC - Rp, 16 NMAC 61.2.8, 1-1-2002; A, 01-01-2004; A, 1-1-2006; A, 1-1-2012; A, 1-1-2019]

16.61.2.9 FEES NON-REFUNDABLE: Fees paid to the commission pursuant to 16.61.2 NMAC Section 8 of the commission rules are non-refundable.

[16.61.2.9 NMAC - Rp, 16 NMAC 61.2.9, 1-1-2002; A, 01-01-2004; A, 1-1-2006]

HISTORY OF 16.61.2 NMAC:

Pre-NMAC History:

The material in this part was derived from that previously filed with the state records center and archives under:

Real Estate License Law Manual, filed 10-2-73;

NMREC Rule 19, Relating to Real Estate Brokers & Salesmen; License Fees, filed 8-18-92;

NMREC Rule 19 Relating to Real Estate Brokers & Salesmen, filed 8-23-95.

History of Repealed Material:

16 NMAC 61.2, License Fees (filed 6-25-97) repealed 1-1-2000.

16 NMAC 61.2, License and Other Fees (filed 12-10-99) repealed 1-1-2002.

Other History:

NMREC Rule 19 Relating to Real Estate Brokers and Salesmen (filed 8-23-95) was replaced by 16 NMAC 61.2, License and Other Fees, effective 8-15-97.

16 NMAC 61.2, License and Other Fees (filed 06-25-97) replaced by 16 NMAC 61.2, License and Other Fees, effective 1-1-2000.

16 NMAC 61.2, License and Other Fees (filed 12-10-99) replaced by 16.61.2 NMAC, License and Other Fees, effective 1-1-2002.