A. The board shall establish the fee for appraisal management company registration by rule to cover the cost of the administration of the Appraisal Management Company Registration Act, but in no case shall the fee be more than two thousand dollars ($2,000).
B. Registration fees shall be credited to the appraiser fund pursuant to Section 61-30-18 NMSA 1978.
C. An appraisal management company that either has registered with the board or operates as a subsidiary of a federally regulated financial institution shall pay to the board an annual registry as determined by the appraisal subcommittee.
History: Laws 2009, ch. 214, § 8; 2013, ch. 143, § 4.
The 2013 amendment, effective June 14, 2013, provided for a fee for a company that is associated with a subsidiary of a federally regulated financial institution; and added Subsection C.
Structure 2021 New Mexico Statutes
Article 14 - Appraisal Management Company Registration
Section 47-14-1 - Short title.
Section 47-14-2 - Definitions.
Section 47-14-3 - Registration required.
Section 47-14-3.1 - Bonding requirements.
Section 47-14-3.2 - Criminal background checks.
Section 47-14-6 - Expiration of license.
Section 47-14-7 - Consent to service of process.
Section 47-14-9 - Owner requirements.
Section 47-14-10 - Controlling person.
Section 47-14-11 - Controlling person requirements.
Section 47-14-12 - Employee requirements.
Section 47-14-13 - Requirements; liability.
Section 47-14-14 - Pre-engagement certification.
Section 47-14-15 - Adherence to standards.
Section 47-14-16 - Recordkeeping.
Section 47-14-17 - Appraiser independence; prohibitions.
Section 47-14-18 - Payment; limits; disclosure; nontaxable transaction certificate.
Section 47-14-19 - Appraisal reports; alteration; use.
Section 47-14-21 - Enforcement.