The board shall:

1. A. promulgate rules in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978] to implement the provisions of the Real Estate Appraisers Act;
2. B. establish educational programs and research projects related to the appraisal of real estate;
3. C. establish the administrative procedures for processing applications and issuing registrations, licenses and certificates to persons who qualify to be real estate appraiser trainees, state licensed residential real estate appraisers or state certified real estate appraisers;
4. D. receive, review and approve applications for real estate appraiser trainees, state licensed residential real estate appraisers and each category of state certified real estate appraisers;
5. E. define the extent and type of educational experience, appraisal experience and equivalent experience that will meet the requirements for registration, licensing and certification pursuant to the Real Estate Appraisers Act after considering generally recognized appraisal practices and set minimum requirements for education and experience;
6. 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;
7. G. adopt standards to define the education programs that will meet the requirements of the Real Estate Appraisers Act and that will encourage conducting programs at various locations throughout the state;
8. 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;
9. I. adopt a code of professional responsibility for real estate appraiser trainees, state licensed residential real estate appraisers and state certified real estate appraisers;
10. J. comply with annual reporting requirements and other requirements set forth in the federal real estate appraisal reform amendments;
11. K. collect and transmit annual registry fees from persons who perform or seek to perform appraisals in federally related transactions and from an appraisal management company that either has registered with the board or operates as a subsidiary of a federally regulated financial institution;
12. L. 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;
13. M. establish procedures for disciplinary action in accordance with the Uniform Licensing Act [Chapter 61, Article 1 NMSA 1978] 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;
14. N. register and supervise appraisal management companies and submit additional information about the appraisal management company to the appraisal subcommittee's national registry;
15. O. recognize appraiser certifications and licenses from states whose appraisal program is found to be consistent with Title 11 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 as determined by the appraisal subcommittee; and
16. P. perform such other functions and duties as may be necessary to carry out the provisions of the Real Estate Appraisers Act.

History: Laws 1990, ch. 75, § 7; 1992, ch. 54, § 5; 1993, ch. 269, § 4; 1999, ch. 283, § 2; 2003, ch. 328, § 4; 2014, ch. 33, § 4; 2022, ch. 39, § 99.

ANNOTATIONS

Delayed repeals. — For delayed repeal of this section, see 61-30-24 NMSA 1978.

The 2022 amendment, effective May 18, 2022, clarified that the real estate appraisers board is required to follow the provisions of the State Rules Act when promulgating rules; and in Subsection A, deleted "adopt" and added "promulgate", and after "rules", deleted "necessary" and added "in accordance with the State Rules Act".

The 2014 amendment, effective May 21, 2014, provided for appraiser trainees, appraiser management companies, and compliance with federal law; in Subsection C, after "who qualify to be", deleted "state apprentices", after "real estate", deleted "appraisers" and added "appraiser trainees", and after "state licensed", added "residential"; in Subsection D, after "approve applications for", deleted "state apprentice", after "real estate", deleted "appraisers" and added "appraiser trainees", after "state licensed", added "residential", and after "state certified real estate appraisers", deleted language which provided for the preparation and grading of examinations for state licensed and certified real estate appraisers; in Subsection E, after "licensing and certification", deleted "under" and added "pursuant to"; in Subsection I, after "professional responsibility for", deleted "state apprentice", after "real estate", deleted "appraisers" and added "appraiser trainees", and after "state licensed", added "residential"; and added Subsections K, N and O.

The 2003 amendment, effective July 1, 2003, in Subsection C, substituted "state apprentice real estate appraisers, state" for "registered" following "who qualify to be" near the middle and substituted "real estate appraisers or state" for "and" preceding "certified real estate appraisers" near the end; in Subsection D, substituted "apprentice" for "registered" preceding "real estate appraisers" near the beginning and inserted "state" preceding "certified real estate appraisers" near the middle; in Subsection I, substituted "apprentice real estate appraisers, state" for "registered" following "responsibility for state" near the middle, inserted "real estate appraisers" following "licensed" near the middle and inserted "state" preceding "certified real estate" near the end; and substituted "persons" for "individuals" following "addresses of the" near the middle of Subsection K.

The 1999 amendment, effective June 18, 1999, deleted "and for conducting disciplinary proceedings pursuant to the provisions of the Real Estate Appraisers Act" at the end of Subsection C; added the language beginning "and set minimum requirements" at the end of Subsections E and F; inserted "in accordance with the Uniform Licensing Act" in Subsection L; and made stylistic changes.

The 1993 amendment, effective June 18, 1993, substituted "Board" for "Commission" in the catchline; rewrote the introductory language; inserted "licensed or" in Subsection D; and deleted former Subsection M, which read: "provide administrative assistance to the board by providing such facilities, equipment, supplies and personnel as are necessary to enable the board to perform its duties under the Real Estate Appraisers Act; and", redesignating former Subsection N as present Subsection M and making a related grammatical change.

The 1992 amendment, effective May 20, 1992, made a section reference substitution in the introductory language; inserted references to registration in Subsections C, E, F, I, K, and L; inserted "state registered real estate appraisers" in Subsection D; deleted "and will preclude members of the board from an ownership interest in any organization or company authorized to conduct approved courses or from conducting those programs while a member of the board" from the end of Subsection G; inserted "real estate" in Subsection I; and made stylistic changes.