A. It shall be unlawful for any person in this state to engage or attempt to engage in the business of a time share salesperson without first obtaining a real estate broker or salesperson license issued by the New Mexico real estate commission under the provisions of Section 61-29-1 NMSA 1978.
B. It shall be unlawful for a time share developer to sell or offer to sell time shares located in this state without first obtaining a certificate of registration for the time share project to be offered for sale issued by the New Mexico real estate commission under the provisions of the New Mexico Time Share Act.
History: Laws 1986, ch. 97, § 2; 1978 Comp., § 61-29-1.1, recompiled as 1978 Comp., § 47-11-2.1.
Structure New Mexico Statutes
Section 47-11-1 - Short title.
Section 47-11-2 - Definitions.
Section 47-11-3 - Time shares deemed real estate; partition.
Section 47-11-4 - Disclosure statement.
Section 47-11-5 - Purchaser's right to cancel; escrow; violation.
Section 47-11-7 - Time share proxy.
Section 47-11-8 - Exchange programs.
Section 47-11-9 - Service of process on exchange company.
Section 47-11-10 - Securities laws apply.
Section 47-11-11.2 - Disciplinary action by commission.