2023 New Mexico Statutes › Chapter 61 - Professional and Occupational Licenses › Article 29 - Real Estate Brokers and Salesmen › Section 61-29-8 - License fees; disposition.

A. Except as provided in Section 61-1-34 NMSA 1978, the following fees shall be established and charged by the commission and paid into the real estate commission fund:
(1) for each examination, a fee established by the commission based on competitive bids for examination services submitted to the commission in response to a commission request for proposals, not to exceed ninety-five dollars ($95.00);
(2) for each qualifying broker's license issued, a fee not to exceed two hundred seventy dollars ($270) and for each renewal thereof, a fee not to exceed two hundred seventy dollars ($270);
(3) for each associate broker's license issued, a fee not to exceed two hundred seventy dollars ($270) and for each renewal thereof, a fee not to exceed two hundred seventy dollars ($270);
(4) subject to the provisions of Paragraph (10) of this subsection, for each change of place of business or change of employer or contractual associate, a transfer fee not to exceed twenty dollars ($20.00);
(5) for each duplicate license, where the license is lost or destroyed and affidavit is made thereof, a fee not to exceed twenty dollars ($20.00);
(6) for each license history, a fee not to exceed twenty-five dollars ($25.00);
(7) for copying of documents by the commission, a fee not to exceed one dollar ($1.00) per copy;
(8) for each license law and rules booklet, a fee not to exceed ten dollars ($10.00) per booklet;
(9) for each hard copy or electronic list of licensed associate brokers and qualifying brokers, a fee not to exceed actual costs up to fifty dollars ($50.00);
(10) for each license reissued for an associate broker because of change of address of the qualifying broker's office or death of the qualifying broker when a successor qualifying broker is replacing the decedent and the associate broker remains in the office or because of a change of name of the office or the entity of the qualifying broker, a fee in an amount not to exceed twenty dollars ($20.00) to be paid by the qualifying broker or successor qualifying broker as the case may be; but if there are eleven or more affected associate brokers in the qualifying broker's office, the total fee paid to effect reissuance of all of those licenses shall not exceed two hundred dollars ($200);
(11) for each application to the commission to become an approved sponsor of prelicensing and continuing education courses, a fee not to exceed five hundred dollars ($500) and for each renewal thereof, a fee not to exceed five hundred dollars ($500);
(12) for each application to the commission to become an approved instructor of prelicensing and continuing education courses, a fee not to exceed seventy dollars ($70.00) per course; and
(13) for each application to the commission to renew certification as a commission-approved instructor, a fee not to exceed one hundred dollars ($100).
B. All fees set by the commission shall be set by rule and only after all requirements have been met as prescribed by Chapter 61, Article 29 NMSA 1978. Any changes or amendments to the rules shall be filed in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978].
C. The commission shall deposit all money received by it from fees in accordance with the provisions of Chapter 61, Article 29 NMSA 1978 with the state treasurer, who shall keep that money in a separate fund to be known as the "real estate commission fund", and money so deposited in that fund is appropriated to the commission for the purpose of carrying out the provisions of Section 61-29-4 NMSA 1978 or to maintain the real estate recovery fund as required by the Real Estate Recovery Fund Act [61-29-20 to 61-29-29 NMSA 1978] and shall be paid out of the fund upon the vouchers of the executive secretary of the commission or the executive secretary's designee; provided that the total fees and charges collected and paid into the state treasury and any money so deposited shall be expended only for the purposes authorized by Chapter 61, Article 29 NMSA 1978.
History:
1953 Comp., § 67-24-25, enacted by Laws 1959, ch. 226, § 7; 1977, ch. 295, § 1; 1983, ch. 261, § 2; 1987, ch. 90, § 3; 1990, ch. 75, § 26; 1992, ch. 21, § 1; 1995, ch. 143, § 1; 2001, ch. 163, § 3; 2003, ch. 22, § 3; 2005, ch. 35, § 9; 2011, ch. 85, § 4; 2020, ch. 6, § 56.
ANNOTATIONS
The 2020 amendment,
effective July 1, 2020, provided an exception to the licensure fee for qualified military service members, their spouses and dependent children, and for certain veterans; and in Subsection A, in the introductory clause, added "Except as provided in Section 61-1-34 NMSA 1978".
The 2011 amendment,
effective July 1 2011, imposed a fee for examination services and changed the fee for a copy of the list of brokers from twenty dollars to the actual cost of the list, but not more than fifty dollars.
The 2005 amendment,
effective January 1, 2006, specifies the fees for the issuance and re-issuance of qualifying broker's and associate broker's licenses and eliminates the provision for a proportionate refund of fees for the issuance and renewal of licenses for less that a three year period.
The 2003 amendment,
effective June 20, 2003, substituted "two hundred seventy dollars ($270)" for "one hundred eighty dollars ($180)" in two places in Subsection A(2); in Subsection A(3) added "real estate" preceding "salesperson's license issued" near the beginning, substituted "two hundred seventy dollars ($270)" for "one hundred eighty dollars ($180)" in two places; in Subsection A(10), substituted "for each license reissued for a real estate salesperson" for "when a license must be reissued for a salesperson" at the beginning, deleted "the licensed broker or successor licensed broker as the case may be shall pay to the commission as the affected salesperson's license reissue" near the middle, and inserted "to be paid by the licensed broker or successor broker as the case may be" following "twenty dollars $20.00" near the middle; and added Paragraphs A(11), (12), and (13).
The 2001 amendment,
effective July 1, 2001, substituted "a fee not to exceed" for "a fee of" throughout the section; in Subsection A, inserted "established and" in the preliminary language; increased the examination fee in Paragraph (1) from sixty dollars to ninety-five dollars; deleted "set by the commission" following "a fee" in Paragraphs (7) to (9); deleted "additional" preceding "license law" in Paragraph (8); substituted "hard copy or electronic list" for "additional directory"; deleted Paragraph (10), relating to the fee for supplements to the directory, and renumbered the remaining paragraph accordingly; inserted "an amount not to exceed" preceding "twenty dollars" in the present Paragraph (10); and substituted "executive secretary of the commission or his designee" for "president and secretary of the commission" in Subsection C.
The 1995 amendment,
effective July 1, 1995, in Subsection A, increased the licensing fees from sixty dollars to one hundred and eighty dollars and deleted "annual" preceding "renewal" in Paragraphs (2) and (3), added the proviso at the beginning of Paragraph (4), added Paragraph (11), and made minor stylistic changes throughout the subsection; and added Subsection D.
The 1992 amendment,
effective May 20, 1992, substituted the present section catchline for "License fees and disposition thereof "; substituted "sixty dollars ($60.00)" for "thirty dollars ($30.00)" in Subsection A(1); substituted "sixty dollars ($60.00)" for "forty dollars ($40.00)" in Subsections A(2) and A(3); substituted "twenty dollars ($20.00)" for "ten dollars ($10.00)" in Subsections A(4) and A(5); added Subsections A(6) to A(10); added present Subsection B; redesignated former Subsection B as present Subsection C; and in Subsection C, restructured the former four sentences as a single sentence, substituted "carrying out the provisions" for "paying the expenses of the commission incurred under the provisions" near the middle of the subsection, and made stylistic changes throughout the subsection.
The 1990 amendment,
effective May 16, 1990, in Subsection B, divided the subsection into four sentences, deleted "special" before "fund" in the present second sentence and substituted "or as otherwise provided by law" for "and shall be paid out of the fund in the state treasury" at the end thereof and, in the present third sentence, added "Expenditures shall be made from the fund" at the beginning and deleted "provided that" at the end.
Cash balances not to revert to general fund.
— Any possible or theoretical cash balances credited to the "real estate commission fund," which have accumulated pursuant to this section as the result of the collection of license fees and examination fees, should not revert to the general fund at the end of the licensing year. 1960 Op. Att'y Gen. No. 60-124.
Am. Jur. 2d, A.L.R. and C.J.S. references.
— 12 Am. Jur. 2d Brokers § 8.
Validity of statute or ordinance requiring real estate broker to procure license, 39 A.L.R.2d 606.
53 C.J.S. Licenses §§ 22, 71.