2009 New Mexico Statutes
Chapter 61 - Professional and Occupational Licenses.
Article 29 - Real Estate Brokers and Salesmen
Section 61-29-9 - Qualifications for license.   (Repealed effective July 1, 2012.)

61-29-9. Qualifications for license.   (Repealed effective July 1, 2012.)

A.     Licenses shall be granted only to persons who meet the requirements for licensure prescribed by law and are deemed by the commission to be of good repute and competent to transact the business of a qualifying broker or an associate broker in a manner that safeguards the interests of the public.

B.     An applicant for a qualifying broker's license or an associate broker's license shall be a legal resident of the United States and have reached the age of majority.  Each applicant for a qualifying broker's license or an associate broker's license shall have passed the real estate examination approved by the commission and shall:

(1)     furnish the commission with a certificate that the applicant has completed successfully ninety classroom hours of instruction in basic real estate courses approved by the commission, thirty hours of which shall have been a broker basics course; or

(2)     furnish the commission with a certificate that the applicant is a duly licensed real estate broker in good standing in another state; provided that the applicant has successfully completed ninety classroom hours of instruction in basic real estate courses approved by the commission, thirty hours of which shall have been a broker basics course.

C.     An applicant for a qualifying broker's license shall have been actively engaged in the real estate business as an associate broker or real estate salesperson for at least two of the last five years immediately preceding application for a qualifying broker's license and furnish the commission proof that the applicant has completed successfully one hundred twenty hours of prelicensing courses, including a broker basics course, approved by the commission.

D.     A licensee holding a current real estate salesperson's license on the effective date of this 2005 act shall automatically qualify for an associate broker's license without any additional requirements.  However, to be eligible to apply for a qualifying broker's license, a real estate salesperson obtaining an associate broker's license pursuant to this subsection shall, in addition to meeting all other requirements for a qualifying broker's license, pass a real estate broker's examination approved by the commission.

E.     The commission shall require the information it deems necessary from every applicant to determine that applicant's honesty, trustworthiness and competency.  Corporations, partnerships or associations may hold a qualifying broker's license issued in the name of the corporation, partnership or association; provided that at least one member of the partnership or association or one officer or employee of a corporation who actively engages in the real estate business first secures a qualifying broker's license. The license shall be issued in the name of the corporation, partnership or association, naming the partner, associate, officer or employee as qualifying broker for the corporation, partnership or association.