TITLE 16 OCCUPATIONAL AND
PROFESSIONAL LICENSING
CHAPTER 65 REAL ESTATE APPRAISAL
MANAGEMENT COMPANIES
PART 4 DISCIPLINE
16.65.4.1 ISSUING
AGENCY: State of New Mexico Real Estate Appraisers
Board.
[16.65.4.1 NMAC - N, 10/16/2009]
16.65.4.2 SCOPE:
All real estate appraisal management companies registered and applying
for registration with the board.
[16.65.4.2 NMAC - N, 10/16/2009]
16.65.4.3 STATUTORY
AUTHORITY: These rules are promulgated pursuant to the
Appraisal Management Company Registration Act (NMSA 1978, Sections 47-14-1
through 23).
[16.65.4.3 NMAC -
N, 10/16/2009]
16.65.4.4 DURATION:
Permanent.
[16.65.4.4 NMAC - N, 10/16/2009]
16.65.4.5 EFFECTIVE
DATE: October 16, 2009, unless a later date is cited at the end of
a section.
[16.65.4.5 NMAC - N, 10/16/2009]
16.65.4.6 OBJECTIVE:
The objective of Part 4 is to set forth the disciplinary provisions,
which apply to all persons affected or regulated by the Appraisal Management
Company Registration Act.
[16.65.4.6 NMAC - N, 10/16/2009]
16.65.4.7 DEFINITIONS:
[RESERVED]
16.65.4.8 DISCIPLINARY PROCEDURES:
A. The board may
initiate disciplinary action upon:
(1) complaint;
(2) audit
finding;
(3) information
that the applicant, registrant, exempt company, compliance person, or other key
person is the subject of an order of the board or any other state appraisal
management company regulatory agency denying, suspending, or revoking the
person or entity’s privilege to operate as an appraisal management company, or
information as to any other disciplinary action by an agency of another
jurisdiction responsible for regulating appraisers; and
(4) any other knowledge the board
receives of an alleged violation.
B. Upon receipt of
a complaint or knowledge of an alleged violation the board may:
(1) review
or investigate the alleged violations;
(2) referred
the matter to a complaint committee; or
(3) informally
dispose of a complaint if it determines that there is insufficient information
or lack of probable cause.
C. The registrant
shall have an opportunity to response to the compliant in writing. Failure to
respond may be deemed waiver of any defenses.
D. Based upon the
review or investigations, the complaint committee or other board designee will
make a recommendation to the board for action.
E. Every
registration shall be afforded notice and an opportunity to be heard before the
board uses its authority to take any action that would result in:
(1) suspension;
(2) revocation;
(3) censure
or reprimand; or
(4) fine.
F. When the board
is taking an action defined in Subsection E of this section, the board shall
serve upon the registrant written notice of contemplated action (NCA) and indication
an opportunity for hearing. The NCA shall be served by personnel service on the
controlling person of the AMC.
G. If a registrant
does not request a hearing within the time and in the manner required by the
NCA, the board may take the action contemplated.
[16.65.4.8 NMAC - N, 10/16/2009; A,
10/30/2021]
16.65.4.9 HEARING PROCEDURES: hearings shall be conducted pursuant to the Uniform
Licensing Act, Section 61-1-1 through -31 NMSA 1978.
[16.65.4.9 NMAC - N, 10/16/2009; A,
09/26/2023]
HISTORY OF 16.65.4 NMAC: [RESERVED]