1. A. Any qualifying broker’s or associate broker’s license suspended or revoked by an order, stipulated agreement or settlement agreement approved by the commission shall be surrendered to the commission by the broker upon the delivery of the order to the broker by the commission, or on the effective date of the order.

2. B. All real-estate-related activity conducted under such license shall cease for the duration of the license suspension or revocation, and the license of any associate broker affiliated with a qualifying broker whose license is suspended or revoked shall be automatically placed on inactive status until a new qualifying broker or broker in charge is designated.

   HISTORY OF 16.61.12 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;

   REC-18, Rule No. 18, Penalties, filed 6-15-79;

   REC 70-17, Penalties, filed 10-6-81;

   REC 71-18, Penalties, filed 11-29-82;

   Rule No. 17, Penalties, filed 12-18-87;

   NMREC Rule 17, Investigation/Penalties, filed 10-3-94.

   History of Repealed Material:

   16 NMAC 61.12, License Revocation (filed 6-25-97) repealed 1-1-2002.

   Other History:

   That portion of NMREC Rule 17, Investigation/Penalties (filed 10-3-94) was renumbered, reformatted, amended, and replaced by 16 NMAC 61.12, License Revocation, effective 8-15-97.

   16 NMAC 61.12, License Revocation (filed 6-25-97) was replaced by 16.61.12 NMAC, License Suspension and Revocation, effective 1-1-2002.

[16.61.12.9 NMAC - Rp, 16 NMAC 61.12.9, 1-1-2002; A, 1-1-2006; A, 1-1-2014]