There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 47: Property Law
Article 14: Appraisal Management Company Registration, 47-14-1 through 47-14-23
Section 47-14-13: Requirements; liability.
Universal Citation:
NM Stat § 47-14-13 (1996 through 1st Sess 50th Legis)
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47-14-13. Requirements; liability.
A. An appraisal management company registered in this state pursuant to the Appraisal Management Company Registration Act shall not enter into contracts or agreements with an independent appraiser for the performance of real estate appraisal services unless that person is licensed or certified in good standing pursuant to the Real Estate Appraisers Act [61-30-1 NMSA 1978].
B. An appraisal management company shall not require an appraiser to indemnify the appraisal management company against liability except liability for errors and omissions by the appraiser.
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