Foreign brokers agree to submit to the jurisdiction of the courts of New Mexico with respect to the transaction and any and all claims related thereto by service of process upon the secretary of state of New Mexico and upon the appropriate official of the state, province or nation of the foreign broker's real estate licensure. When a New Mexico associate broker or qualifying broker makes a referral to or receives a referral from a foreign broker for the purpose of receiving a fee, commission or any other consideration, the qualifying broker of the New Mexico brokerage and the foreign broker shall execute a written, transaction-specific referral agreement at the time of the referral.

HISTORY of 16.61.27 NMAC:

Pre-NMAC History: The material in this part was derived from that previously filed with the State Records Center:

Rule No. 17, Amendment No. 2 (aka REC-17), Cooperating With Foreign Broker, filed 6-15-79.

REC 70-16 Cooperating With Foreign Broker, filed 10-6-81.

Rule No. 14 Foreign Broker/Cooperation With, filed 12-18-87.

NMREC Rule 14, Foreign Broker/Cooperation With, filed 10-3-94.

History of Repealed Material:

16.61.27 NMAC, Foreign Brokers, filed 11-30-2001 - Repealed effective 1-1-2014.

[16.61.27.9 NMAC - N, 1-1-2017]