New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 15 - APPROVAL OF REAL ESTATE COURSES, SPONSORS, AND INSTRUCTORS › Section 16.61.15.10 - APPROVAL OF SPONSORS AND RESPONSIBILITIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. All sponsors wishing to offer commission
				approved courses for credit must be approved by the commission before the
				course being offered for credit.
B.
				Educational institutions, proprietary schools, professional organizations or
				businesses wishing to become commission approved sponsors must submit a
				completed sponsor application form with supporting documentation as required by
				the commission.
C. The commission
				will maintain a list of approved sponsors.
D. An approved sponsor shall comply with the
				following requirements:
(1) conduct all
				courses in accordance with commission rules and education policies, and in
				accordance with approved course content;
(2) permit all New Mexico real estate brokers
				to attend all classes offered by the sponsor for which continuing education
				credit is awarded;
(3) document
				electronically to the real estate commission that the student has completed the
				course;
(a) certify no candidate as
				successfully completing the broker basics or brokerage office administration
				course unless the student has attended at least ninety percent of the classroom
				instruction and has passed a written examination at the conclusion of the
				course;
(b) certify no broker as
				successfully completing a commission approved course unless the broker has
				attended 50 minutes of each hour, or successfully completed a distance
				education course approved by the New Mexico real estate
				commission.
(4) maintain
				current, complete, and accurate student records; these records shall include,
				but not be limited to, a record of payments made, a record of attendance, and a
				record of course work completed; records shall be maintained for a period of
				three years;
(5) permit the
				commission or its representative access to classes being conducted, and make
				available to the commission, upon request, all information pertaining to the
				activities of the sponsor;
(6)
				advertise at all times in a manner free from misrepresentation, deception or
				fraud; all course advertising must include the name of the commission-approved
				sponsor, and must specify whether the course is a core elective, an elective,
				or ethics course;
(7) in the event
				a sponsor determines that it intends to cease sponsoring real estate classes it
				shall inform the commission in writing not less than 30 days before
				cessation;
(8) advise the
				commission within 30 days of changes in ownership, directorship, financial
				status, location or other pertinent information, and reapply for sponsorship in
				the event of change of majority ownership;
(9) at the end of each course, the sponsor
				shall collect from each student an evaluation that evaluates adherence to
				course content, the effectiveness of the instructor, and other prescribed
				criteria; the evaluation forms shall be maintained by the sponsor for not less
				than one year and shall be made available to the commission, or any duly
				authorized commission representative, upon request;
(10) renew sponsorship approval every three
				years by submitting a sponsor renewal form and renewal fee to the
				commission;
(11) shall meet the
				requirements of the Americans with Disabilities Act and all other local, state
				and federal laws.