N.M. Admin. Code § 16.61.29.8

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

Section 16.61.29.8 - REGISTRATION AND USE OF TRADE NAME

A. Prior to the use of any trade name for the operation of a brokerage, the qualifying broker shall register such trade name with the commission. A qualifying broker must conduct their real estate brokerage business under a trade name registered with the commission. A qualifying broker wishing to conduct real estate brokerage business under a different trade name must execute a new trade name registration form, provide verification of current errors and omission coverage and pay the required fee with the commission.

B. When a brokerage ceases using a trade name, the qualifying broker shall, within 10 days, return the qualifying broker's license and the licenses of all qualifying and associate brokers affiliated with the brokerage to the commission, advise the commission in writing that the trade name is no longer being used, and remove all signs and advertising using the trade name.

C. Use of a trade name in such a fashion as to mislead the public may be grounds for disciplinary action by the commission.

D. An associate broker executing a trade name registration form for the purposes of reinstating a qualifying broker status shall be required, as a condition of reinstatement, to provide documentation of having completed the commission-approved minimum four hour qualifying broker refresher course during the current license renewal cycle.

N.M. Admin. Code § 16.61.29.8

16.61.29.8 NMAC - Rp, 16 NMAC 61.29.8, 1-1-2002; A, 1-1-2006; A, 1-1-2012