N.M. Admin. Code § 16.61.16.10

Current through Register Vol. 35, No. 19, October 8, 2024

Section 16.61.16.10 - MITIGATING FACTORS TO QUALIFYING BROKER RESPONSIBILITIES

Any of the following may be considered by the commission as mitigating factors regarding an alleged violation of the responsibilities named in 16.61.16.9 NMAC, above

A. The qualifying broker has written policies guiding brokers from violating state or federal laws regarding real estate or rules of the real estate commission as demonstrated by all of the following:

(1) The qualifying broker demonstrates the broker received written policies and an acknowledgment that broker read and agreed to follow the policies;

(2) The qualifying broker can demonstrate access was provided to associate brokers to any of the following:

(a) Ongoing training or education sessions for associate brokers;

(b) Ongoing discussions regarding real estate practice, procedures and law, the rules of the commission;

(c) Ongoing discussions regarding completing real estate forms correctly;

(d) Ongoing discussions regarding changes to forms, rules and regulations, statutes and any other commission regulations

B. Any violation of the provisions of the New Mexico Real Estate License Act by any licensee associated with qualifying broker shall not be cause for suspension or revocation of a qualifying broker license unless the qualifying broker had guilty knowledge of the act or rule violation.

C. The qualifying broker's failure to provide an appropriate written company policy may be cause for discipline, including suspension or revocation of the qualifying broker's license.

N.M. Admin. Code § 16.61.16.10

Adopted by New Mexico Register, Volume XXXI, Issue 23, December 15, 2020, eff. 1/3/2021