reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.8 - APPLICATION REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
All certificate/license applications and renewals shall be
				  made on and meet all information requirements contained in board prescribed
				  forms. Applications will not be considered complete and filed with the board
				  until all required information and board prescribed fees have been received.
				  Electronic signatures are acceptable for applications submitted pursuant to
				  16.60.1 NMAC through 16.60.50 NMAC.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.9 - INITIAL CERTIFICATE/LICENSE REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. An applicant for initial
				certification/licensure shall demonstrate to the board's satisfaction that he:
(1) lacks a history of dishonest or felonious
				acts;
(2) meets the education,
				experience and examination requirements of the board; and
(3) passes the American institute of
				certified public accountants ethics examination with a score of ninety percent
				or higher.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.10 - BOARD ACCEPTANCE OF GRADE TRANSFER CERTIFICATE APPLICANTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The board will
				only accept grade transfers from applicants passing the uniform CPA examination
				in other jurisdictions/states for an initial CPA certificate application under
				the following situations:
(1) temporary
				change in residence to the state/jurisdiction where the applicant passed the
				uniform CPA examination while the grade transfer applicant was a
				student;
(2) temporary change in
				residence to the state/jurisdiction where the applicant passed the uniform CPA
				examination while the grade transfer applicant was on military duty;
(3) temporary change in residence to the
				state/jurisdiction where the applicant passed the uniform CPA examination while
				the candidate was on a temporary work assignment;
(4) presentation of documented evidence
				demonstrating current resident status in the state of New Mexico; or
(5) presentation of documented evidence
				demonstrating anticipated employment and residency in the state of New Mexico
				within 6 months of the application's date.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.11 - RELINQUISHING A CERTIFICATE/LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Any individual certificate/license holder
				may at any time and for any reason, subject to the approval of the board,
				relinquish that certificate/license to the board. An individual relinquishing
				his certificate/license during the course of a disciplinary investigation or
				proceeding may not apply for reinstatement but may apply for the issuance of a
				new certificate/license upon completion of all requirements for the issuance of
				such certificate, including meeting all education, examination, experience, and
				ethics examination requirements of the act and board rules in effect at the
				time of the new application. This includes sitting for and passing the uniform
				CPA examination, meeting current experience requirements, and passing a current
				ethics examination.
B. This rule
				does not apply to a licensee who relinquished their license while in good
				standing and was not the subject of a board investigation or disciplinary
				proceeding at the time they relinquished their license. If an individual
				relinquishes their certificate/license during the course of a board
				disciplinary investigation or proceeding, this fact shall be disclosed in any
				later application for a new certificate and shall be considered before the
				issuance of a new certificate.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.12 - REINSTATEMENT REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Requests to reinstate a certificate/license that lapsed or expired as a result
				of non-renewal shall meet all board prescribed requirements for reinstatement
				including the current year's renewal fee and continuing professional education.
				An individual whose certificate/license has been subject to board disciplinary
				action pursuant to the Uniform Licensing Act, Sections
				61-1-1 to
				61-1-31 NMSA 1978, may, upon
				application in writing and for good cause, request reinstatement of the
				certificate/license after completion of all requirements contained in the
				board's original order or agreement.
B. A reinstatement application pursuant to
				Section 21 of the act and this rule will be processed by the board upon the
				basis of the materials submitted in support thereof and supplemented by such
				additional inquiries as the board may require. Upon receipt of a complete
				reinstatement application packet and successful completion of a fingerprint
				background check, board staff are authorized to reinstate a certificate and
				license to an applicant for whom no licensing issues are present. If the
				individual has not held an active license in any jurisdiction within the five
				years preceding the date of application for reinstatement, the approval of the
				board will be required. For reinstatement of a certificate/license, a hearing
				may be held, and the board may, at its discretion, impose terms and conditions
				on an application following procedures the board may find suitable for the
				particular case.
C. The
				reinstatement request shall set out in writing the reasons constituting good
				cause for the relief sought and shall be accompanied by at least two supporting
				recommendations, under oath, from practitioners who have personal knowledge of
				the activities of the applicant since board disciplinary action was imposed. In
				considering a reinstatement application, the board may consider all activities
				of the applicant since the disciplinary action from which relief is sought was
				imposed; the offense for which the applicant was disciplined; the applicant's
				activities during the time the certificate/license was in good standing; the
				applicant's rehabilitative efforts; restitution to damaged parties in the
				matter for which the penalty was imposed; and the applicant's general
				reputation for trust and professional probity.
D. No application for reinstatement will be
				considered while the applicant is under sentence for any criminal offense,
				including any period during which the applicant is on court-imposed probation
				or parole.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.13 - RECIPROCITY REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Interstate reciprocity: The board may issue a certificate/license to the holder
				of a certificate issued by a state other than New Mexico as defined under
				Sections 3O, 11B and D, and 26A of the act provided that the license from the
				other state is valid and in good standing and that the applicant:
(1) provides proof from a board-approved
				national qualifications service that their CPA qualifications are substantially
				equivalent to the CPA requirements of the act; or
(2) successfully completed the CPA
				examination in accordance with the rules of the other state at the time it
				granted the applicant's initial certificate; and
(3) meets the experience requirements under
				the act and these rules for issuance of the initial certificate; and
(4) has met the CPE requirement of the state
				in which he is currently licensed pursuant to the act and board
				rules.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.14 - SUBSTANTIAL EQUIVALENCY/INTENT TO PRACTICE REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Effective July 1, 2008, a person whose
				principal place of business is not New Mexico and who has a valid
				certificate/license as a certified public accountant from another state shall
				be presumed to have qualifications substantially equivalent to New Mexico's
				requirements if the person meets the requirements of Subsection A of Section 26
				of the act.
B. The board may rely
				on NASBA, AICPA, or other professional bodies approved as acceptable to the
				board to provide qualification appraisal in determining whether an applicant's
				qualifications are substantially equivalent to New Mexico's
				requirements.
C. A person
				exercising the practice privilege afforded by Section 26 of the act shall be
				deemed to have:
(1) submitted to the personal
				and subject matter jurisdiction and disciplinary authority of the
				board;
(2) agreed to full
				compliance with the act and related board rules; and
(3) consented to appointment of the state
				board that issued the license as agent upon whom process may be served in an
				action or proceeding by the New Mexico public accountancy board against the
				licensee.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
State of New Mexico Public Accountancy
				  Board.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
General Public - All certified public accountant (CPA) and
				  registered public accountant (RPA) business entities seeking authority to
				  practice as a CPA or RPA firm.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
1999 Public Accountancy Act, Sections
				  61-28B-1
				  to
				  61-28B-29
				  NMSA 1978.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
February 14, 2002, unless a lager date is cited at the end of
				  a section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
To prescribe requirements for firm permit application,
				  renewal and reinstatement, business name prohibitions and peer review program
				  implementation, administration and oversight.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.8 - FIRM PERMIT APPLICATION, RENEWAL, REINSTATEMENT AND NOTIFICATION REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Pursuant to Subsection B of Section 12 and Subsections A, B, E, F and L of
				Section 13 of the act, any CPA or RPA acting as the sole proprietor, partner,
				shareholder or member of a legal business entity who performs or offers to
				perform accountancy for a client or potential client by holding themselves out
				to the public must obtain a firm permit to be granted authority to practice
				public accountancy as a CPA or RPA firm. Pursuant to Subsection I of Section 13
				of the act, each office of the firm within New Mexico must obtain a firm
				permit. All firm permit applications for initial issue, renewal, or
				reinstatement shall be made on board-prescribed forms and meet all information
				and fee requirements to be considered complete and filed with the
				board.
B. Renewal requirements:
				Deadline for receipt of firm permit renewal applications is no later than prior
				to the expiration date printed on the firm permit. The board shall send firm
				permit renewal notices to firm permit holders no less than 30 days prior to the
				renewal deadline date.
C.
				Reinstatement requirements:
(1) Reinstatement
				due to non-renewal/expiration: Requests to reinstate a firm permit that lapsed
				or expired as a result of non-renewal shall be made on board-prescribed forms
				and meet all board-prescribed requirements for reinstatement including the
				current year's renewal fee and peer review program requirements. This rule
				shall not apply to firms whose permits lapsed or expired for a period of three
				years or more.
(2) Reinstatement
				applications for relief from disciplinary penalties: A firm whose permit to
				practice has been subject to board disciplinary action may apply to the board
				for modification of the board action after completion of all requirements
				contained in the board's original order:
(a)
				the application shall be in writing and substantiate the reasons constituting
				good cause for the relief sought; and
(b) shall be accompanied by at least two
				supporting recommendations, under oath, from practitioners who have personal
				knowledge of the activities of the applicant since the board action was
				imposed.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.9 - FIRM BUSINESS NAMES PROHIBITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Misleading firm names: A firm name or
				trade name is misleading pursuant to Section 19 of the act if, among other
				things, the firm name or trade name:
(1) is
				not the lawful and registered name of the firm;
(2) implies the existence of a corporation
				when the firm is not a corporation such as through the use of the words
				"corporation", "incorporated", "Ltd.", "professional corporation", or an
				abbreviation thereof as part of the firm name if the firm is not incorporated
				or is not a professional corporation;
(3) implies the existence of a partnership
				when there is not a partnership such as by use of the term "partnership",
				"limited liability partnership", the abbreviation "LLP", "limited liability
				company", or the abbreviation "LLC" if the firm is not such an
				entity;
(4) includes the name of an
				individual who is not a CPA if the title "CPAs" is included in the firm name or
				trade name, except as provided for in Subsection B of 16.60.4.9 NMAC;
(5) includes information about or indicates
				an association with persons who are not members of the firm, except as
				permitted pursuant to Section 14(i) of the Uniform Accountancy Act;
(6) includes the terms "& company",
				"& associate", or "group", but the firm does not include, in addition to
				the named partner, shareholder, owner, or member, at least one other
				licensee;
(7) contains any
				representation that would be likely to cause a reasonable person to have a
				false or unjustified expectation of favorable results or capabilities, through
				the use of a false or unjustified statement of fact as to any material
				matter;
(8) claims or implies the
				ability to influence a regulatory body or official;
(9) includes the name of an owner whose
				certified public accountant license has been revoked for disciplinary reasons
				by the board, whereby the licensee has been prohibited from practicing public
				accountancy or prohibited from using the title CPA or holding himself out as a
				certified public accountant for more than 90 days after revocation of the
				license.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 4 - FIRM PERMIT, PEER REVIEW REQUIREMENTS AND BUSINESS NAME PROHIBITIONS › Section 16.60.4.10 - PEER REVIEW REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Participation: A firm seeking to obtain or renew a firm permit to provide
				accounting and auditing services in New Mexico must be enrolled in a peer
				review program and undergo a peer review pursuant to Section 6.60.4.10 B of the
				1999 Public Accountancy Act , Peer review program objectives are established
				pursuant to Section 13L of the act to monitor compliance with applicable
				accounting and auditing standards adopted by generally recognized
				standard-setting bodies. Emphasis is on education, including appropriate
				education programs or remedial procedures that may be recommended or required
				where reporting does not comply with appropriate professional standards.
(1) Firms contracting to perform audits of
				state agencies as defined in the audit act must also comply with peer review
				standards applicable to those audits.
(2) Participation is required of each firm
				registered with the board who provides accounting or auditing services pursuant
				to Subsection 13L of the act.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to the code of professional conduct as
				  promulgated under the authority granted by applicable New Mexico statutes,
				  which delegates to the State of New Mexico Public Accountancy Board the power
				  and duty to prescribe rules of professional conduct for establishing and
				  maintaining high standards of competence and integrity in the profession of
				  public accountancy.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Public Accountancy Act, Sections
				  61-28B-1
				  to
				  61-28B-29
				  NMSA 1978.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
February 14, 2002, unless a later date is cited at the end of
				  a section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The code of professional conduct prescribes the obligation
				  that persons engaged in the practice of public accountancy have to their
				  clients and to the public to maintain independence of thought and action; to
				  strive continuously to improve one's thought and action; to strive continuously
				  to improve one's professional skills; to observe, where applicable, generally
				  accepted accounting principles and generally accepted auditing standards; to
				  promote sound and informative financial reporting; to hold the affairs of
				  clients in confidence; to uphold the standards of the public accountancy
				  profession; and to maintain high standards of personal conduct in all matters
				  affecting one's fitness to practice public accountancy.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.8 - DUTY TO ABIDE BY CODE OF PROFESSIONAL CONDUCT

Current through Register Vol. 35, No. 13, July 16, 2024
A. In addition to its own rules of conduct,
				the board adopts the American institute of certified public accountants'
				(AICPA) professional standards: code of professional conduct. All certified
				public accountants and registered public accountants holding a current
				certificate and all holders of firm permits shall comply with the board's rules
				of conduct and the AICPA code of professional conduct or any successor code of
				professional conduct promulgated by AICPA in meeting and maintaining their
				responsibilities and requirements of ethical and professional conduct in the
				practice of public accountancy. This code of professional conduct is on file
				and available for review at the offices of the board and is available from
				AICPA.
B. By accepting licensure to
				engage in the practice of public accountancy or to use titles which imply a
				particular competence so to engage, the licensee also accepts the obligations
				of the profession and the duty to abide by the board's rules of conduct and the
				AICPA code of professional conduct.
C. Any departure from either the rules of
				conduct or the code of conduct must be justified, and individuals who do not
				adhere to them may be subject to board disciplinary action.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.9 - BOARD DISCIPLINARY ACTION

Current through Register Vol. 35, No. 13, July 16, 2024
A. Any licensee whose certificate or firm
				permit issued by the board is subsequently suspended or revoked shall promptly
				return such certificate/license to be board.
B. Decisions by the board following hearings
				under the Uniform Licensing Act and the Public Accountancy Act will, if a
				charge is sustained, be made public.
(1)
				Decisions that do not sustain a charge or are subject to agreement in lieu of a
				hearing may be made public at the board's discretion.
(2) A list of all individuals whose licenses
				have been suspended or revoked will be published on quarterly basis in a
				newspaper of general circulation as well as in the newspaper of circulation
				closest to the individual's place of business.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.10 - BOARD AUTHORITY TO REVIEW DOCUMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
The board may solicit and receive publicly available reports
				  and related financial statements from clients, public agencies, banks, and
				  other users of financial statements of certificate holders/licensees and
				  firm-permit holders and individuals with privileges under the act on a general
				  and random basis without regard to whether an application for renewal of the
				  particular licensee is then pending or whether there is any formal complaint or
				  suspicion of impropriety on the part of any particular licensee or individual.
				  The board may review such reports and otherwise proceed with respect to the
				  results of any such review under provisions, authorities, and remedies of the
				  act.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.11 - RULES OF CONDUCT

Current through Register Vol. 35, No. 13, July 16, 2024
In addition to abiding by the AICPA code of professional
				  conduct, New Mexico CPA/RPA certificate/license holders shall abide by the
				  following board rules:
A. Responses to
				board communications. The individual applicant, certificate holder, or
				registration holder of a certificate/license or firm permit shall, when
				requested by the board, substantively and honestly respond in writing to all
				communication from the board within thirty days of receipt of board
				communications. Board communications may be sent by regular mail, registered or
				certified mail, hand delivered or by commercial courier, to the last known
				address on record with the board. Board communications may also come by email
				to the last known email address on record with the board. The individual may
				respond to the board by regular mail, registered or certified mail, hand
				delivery, by commercial courier. Email is only a valid response to the board if
				the original communications from the board was delivered by email.
(1) Failure to respond substantively and
				honestly to written board communications or failure to furnish requested
				documentation or working papers constitutes conduct indicating lack of fitness
				to serve the public as a professional accountant and shall be grounds for
				disciplinary action.
(2) Each
				applicant, certificate or firm permit holder and each person required to be
				registered with the board under the act shall notify the board, in writing, of
				any and all changes in such person's mailing address and the effective date
				thereof within 30 days before or after such effective date.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.12 - CONFLICT OF INTEREST PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. A licensee shall not perform services for
				a client if the performance of such services will be directly or substantially
				adverse to another client unless:
(1) the
				licensee reasonably believes the performance of such services for one client
				will not adversely affect the relationship with the other client; and
(2) after consultation, each client consents
				in writing to allow the licensee to provide services to the other
				client.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 5 - CODE OF PROFESSIONAL CONDUCT › Section 16.60.5.13 - UNAUTHORIZED USE OF THE CPA TITLE

Current through Register Vol. 35, No. 13, July 16, 2024
A. Pursuant to Section
				61-28B-26
				and
				61-28B-13
				NMSA 1978, a person whose principal place of business is not in New Mexico can
				use the term CPA while serving clients in New Mexico as long as the CPA is
				actively licensed in good standing in his principal place of business and is
				eligible for practice privileges in New Mexico.
B. A person licensed as a CPA in another
				jurisdiction who moves to New Mexico with the intention of using the CPA title
				(whether in public practice, industry, government, or education) must obtain a
				certificate of from the board prior to using the CPA title in any way in this
				state. Oral or written statements such as I am a licensed CPA in another
				jurisdiction when used in connection with the individuals name on all reports,
				letters of transmittal, or advice, and on all stationery and documents used in
				connection with the individuals services as an accountant do not exempt the
				individual from obtaining a certificate of qualification from the board.
				Non-resident CPAs who wish to practice in New Mexico may do so only in
				accordance with Section
				61-28B-26
				NMSA 1978.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
The provisions in Part 1 apply to all parts of Title 16,
				  Chapter 61 and provide relevant information to brokers, applicants, other
				  agencies, professional associations, and any member of the general public
				  affected by or interested in Chapter 61 of Title 16.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Part 1 of Chapter 61 is promulgated pursuant to the Real
				  Estate Licensing Law, NMSA 1978 Section
				  61-29-4.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1-1-2012, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 1 of Chapter 61 is to set forth the
				  provision, which apply to all of Chapter 61, and to all persons and entities
				  affected by Chapter 61 of Title 16, and to define the terms and terminology
				  related to real estate qualifying brokers and associate brokers used throughout
				  Chapter 61 of Title 16.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.8 - OFFICES

Current through Register Vol. 35, No. 13, July 16, 2024
The offices of the New Mexico real estate commission will be
				  located in Albuquerque, New Mexico.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 1 - GENERAL PROVISIONS › Section 16.61.1.9 - TELEPHONIC MEETING ATTENDANCE

Current through Register Vol. 35, No. 13, July 16, 2024
Commission members may participate in a meeting of the
				  commission by means of a conference telephone or similar communications
				  equipment and participation by telephone may only occur when it is difficult or
				  impossible for commission members to attend a meeting of the commission, i.e.
				  when circumstances beyond the member's control would make attendance in person
				  extremely burdensome.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
The provisions in Part 2 of Chapter 61 apply to all licensed
				  brokers; applicants for broker licensure in New Mexico; anyone wishing to
				  purchase broker mailing lists, mailing labels, or license law and rules
				  booklets; anyone who requests a written verification of licensure to be
				  completed by the commission; or anyone seeking commission approval as a sponsor
				  or instructor to offer courses for real estate pre-licensing or continuing
				  education credit.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Part 2 of Chapter 61 is promulgated pursuant to the Real
				  Estate Licensing Law, NMSA 1978 Section
				  61-29-4.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1-1-2000, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 2 of Chapter 61 is to establish the
				  fees to generate sufficient revenues required by the commission to carry out
				  its administrative functions.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.8 - FEES

Current through Register Vol. 35, No. 13, July 16, 2024
A. For each
				examination, a fee not to exceed ninety-five dollars ($95.00).
B. For each broker's license issued, and for
				each renewal thereof, a fee not to exceed two hundred seventy dollars
				($270.00).
C. For each license
				transferred, a fee not to exceed twenty dollars ($20.00). If there are eleven
				or more affected licenses in the brokerage, the total transfer fee paid shall
				not exceed two hundred dollars ($200.00).
D. 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).
E. For
				each license history, a fee not to exceed twenty-five dollars
				($25.00).
F. For copying of
				documents by the commission a fee not to exceed one dollar ($1.00) per
				copy.
G. For each state of New
				Mexico real estate license law and rules manual a fee not to exceed ten dollars
				($10.00).
H. For each hard copy or
				electronic list of licensed real estate brokers, a fee not to exceed fifty
				dollars ($50.00).
I. For each
				initial broker's license, and for the renewal thereof, a fee not to exceed ten
				dollars ($10.00) shall be credited to the real estate recovery fund pursuant to
				NMSA 1978 Section
				61-29-22
				if in the commission's judgment the assessment of such fee is necessary to
				maintain the fund at its statutory minimum level.
J. For each application to the commission to
				become an approved sponsor of real estate pre-licensing and continuing
				education courses, a fee not to exceed five hundred dollars ($500.00) and for
				each renewal thereof a fee not to exceed five hundred dollars
				($500.00).
K. For each application
				to the commission to become approved to instruct a currently approved
				pre-licensing or continuing education course, a fee not to exceed seventy
				dollars ($70.00) per course. For each application to the commission to renew
				certification as a commission approved instructor of real estate pre-licensing
				or continuing education courses, a fee not to exceed one hundred dollars
				($100.00).
L. For each application
				to the commission for approval of a new pre-licensing and continuing education
				course, a fee not to exceed fifty dollars ($50.00) plus two dollars ($2.00) for
				each credit hour up to a maximum of 10 credit hours. For applications to the
				commission for bulk course approval, defined as five or more courses at a
				single committee meeting, a reduced fee not to exceed twenty-five dollars
				($25.00) per course plus one dollar ($1.00) for each credit hour up to a
				maximum of 10 credit hours.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 2 - LICENSE AND OTHER FEES › Section 16.61.2.9 - FEES NON-REFUNDABLE

Current through Register Vol. 35, No. 13, July 16, 2024
Fees paid to the commission pursuant to
				  16.61.2.8 NMAC of
				  the commission rules are non-refundable.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
The provisions in Part 3 of Chapter 61 apply to all
				  applicants for real estate broker licensure in New Mexico.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Part 3 of Chapter 61 is promulgated pursuant to the Real
				  Estate Licensing Law, Section
				  61-29-4,
				  NMSA 1978.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1-15-2018, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 3 of Chapter 61 is to set forth the
				  examination and application requirements for candidates desiring to obtain a
				  New Mexico real estate broker's license.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Refer to
				  16.61.1.7
				  NMAC.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.8 - TYPES OF LICENSES

Current through Register Vol. 35, No. 13, July 16, 2024
The New Mexico real estate commission issues two types of
				  real estate broker's licenses; an associate broker's license and a qualifying
				  broker's license. Both types of licenses are issued only to individuals. The
				  requirements for obtaining both types of licenses are described
				  below.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.11 - QUALIFYING BROKER CANDIDATE EDUCATION REQUIREMENTS FOR APPLICATION

Current through Register Vol. 35, No. 13, July 16, 2024
An associate broker or salesperson licensed in another state
				  who is applying for a qualifying broker license shall furnish the commission
				  satisfactory evidence of:
A.
				Completion of the commission approved 30-hour brokerage office administration
				course, with an in-course instructor-created exam administered by the
				instructor at the end of the course.
B. Completion of the eight-hour understanding
				and using RANM forms course, or at least eight hours of other
				commission-approved contract course(s).
C. Completion of a minimum of eight hours of
				core elective courses.
D.
				Attendance at one New Mexico real estate commission meeting, rule hearing, or
				disciplinary hearing for at least three hours, or until the commission meeting
				goes into executive session, or the hearing/meeting ends, whichever comes
				first. Attendance may be by live meeting/hearing or by live or recorded
				distance broadcast; but must be documented by signing into and out of the
				meeting/hearing. In the event of broker hardship, approved by the commission,
				the real estate commission may authorize an equivalent to attendance at a
				commission meeting by an online download, attendance at any approved
				equivalent, or by other approved participation.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.12 - QUALIFYING BROKER APPLICATION REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
An associate broker or salesperson licensed in another state
				  who is applying for a qualifying broker license shall furnish the commission
				  satisfactory evidence of the following:
A. A notarized affidavit of the applicant's
				acknowledgement of the responsibilities of a qualifying broker, including the
				direct supervision of all brokers affiliated with the qualifying broker.
				Supervision shall be defined in the affidavit as follows:
(1) Review and maintain all records and
				documents required for real estate related matters processed by personnel
				supervised by the qualifying broker.
(2) Provide or promote appropriate training
				of all brokers and staff affiliated with the qualifying broker for compliance
				with the real estate license law and commission rules.
(3) Supervise advertising of real estate or
				real estate services conducted on behalf of others by anyone affiliated with
				the qualifying broker.
(4) Execute
				and maintain current written employment agreements or independent contractor
				agreements with associate brokers affiliated with the qualifying
				broker.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.13 - QUALIFYING BROKER LICENSE RENEWAL REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A qualifying broker applying for renewal of their license
				  shall furnish the commission satisfactory evidence of successful completion
				  of:
A. The qualifying broker refresher
				course.
B. A minimum of 42 hours of
				commission-approved courses, including
(1) The
				four-hour core course in each year of the broker's licensing cycle
(2) Eight hours of core elective
				courses.
(3) The qualifying broker
				refresher course (6 hours)
(4) Four
				hours of ethics.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 3 - REAL ESTATE BROKER'S LICENSE: EXAMINATION AND LICENSING APPLICATION REQUIREMENTS › Section 16.61.3.14 - PROPERTY MANAGEMENT EDUCATIONAL REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
Qualifying brokers or associate brokers intending to offer
				  property management services for others, shall as a condition of offering
				  property management services complete the following education
				  requirements:
A. Completion of the
				commission approved course, Uniform Owner-Resident Relations Act, or a
				commission approved equivalent property management related course, prior to
				offering property management services, and during every subsequent three-year
				licensing cycle.
B. As a condition
				of offering property management services, in addition to the course requirement
				in paragraph A above, associate brokers shall complete a minimum of six hours
				of approved continuing education courses in property management selected from
				the commission's most current approved course catalogue during each three-year
				licensing cycle.
C. Qualifying
				brokers who offer or intend to offer property management services for others,
				shall as a condition of offering such services, in addition to the course
				requirement in Subsection A above, complete a minimum of 12 hours of approved
				continuing education courses in property management selected from the
				commission's most current approved course catalogue, during each three-year
				licensing cycle.
D. While
				qualifying brokers are already subject to the meeting attendance renewal
				requirements listed in Subsection C of
				16.61.3.13
				NMAC, associate brokers who offer or intend to offer property management
				services shall also be subject to the same meeting attendance requirements in
				Subsection C of
				16.61.3.13
				NMAC, namely, the attendance at one commission meeting, rule hearing, or
				disciplinary hearing for at least three hours, or until the commission goes
				into executive session, or the hearing/meeting ends, whichever comes first.
				Attendance may be live meeting/hearing or by live or recorded distance
				broadcast, but must be documented by signing into and out of the
				meeting/hearing. In the event of broker hardship, approved by the commission,
				the real estate commission may authorize an equivalent to the attendance of a
				commission meeting either by an online download, attendance at any approved
				equivalent, or by other approved participation.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
The provisions in Part 5 of Chapter 61 apply to all
				  applicants for and holders of active New Mexico real estate broker's
				  licenses.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Part 5 of Chapter 61 is promulgated pursuant to the Real
				  Estate Licensing Law, NMSA 1978 Section
				  61-29-4.2.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1-1-2002, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of Part 5 of Chapter 61 is to set forth the
				  errors and omissions insurance coverage requirements for all applicants for and
				  holders of active New Mexico real estate broker's licenses.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Refer to
				  16.61.1.7
				  NMAC.
New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 61 - REAL ESTATE BROKERS › Part 5 - ERRORS AND OMISSIONS INSURANCE › Section 16.61.5.8 - GROUP ERRORS AND OMISSIONS INSURANCE POLICY

Current through Register Vol. 35, No. 13, July 16, 2024
Effective January 1, 2002 every active New Mexico real estate
				  broker shall have in effect a policy of errors and omissions insurance. The
				  commission shall enter into a contract with a qualified insurance carrier or
				  its agent or broker to make available to all New Mexico real estate brokers and
				  broker applicants a group policy of insurance under the following terms and
				  conditions:
A. the insurance carrier
				is licensed and authorized by the New Mexico department of insurance to write
				policies of errors and omissions insurance in New Mexico;
B. the insurance carrier maintains an A.M.
				Best rating of "B" or better;
C.
				the insurance carrier will collect premiums, maintain records and report names
				of those insured and a record of claims to the commission on a timely basis and
				at no expense to the state;
D. the
				insurance carrier has been selected through a competitive bidding
				process;
E. the contract and policy
				are in conformance with Part 5 and all relevant New Mexico statutory
				requirements.