Section 47-16-5 – Record disclosure to members; updated information.
A. All financial and other records of the association shall be made available during regular business hours for examination by a lot owner within ten business days of a written request. B. The association shall not charge a fee for making financial and other records available for review. The association may charge a fee of […]
Section 47-16-6 – Duties of a homeowner association.
A. The association shall exercise any powers conferred to the association in the community documents. B. The association shall have a lien on a lot for any assessment levied against that lot or for fines imposed against that lot’s owner from the time the assessment or fine becomes due. If an assessment is payable in […]
Section 47-14-22 – Disciplinary hearings.
The board shall conduct adjudicatory proceedings in accordance with the Uniform Licensing Act [61-1-1 to 61-1-31 NMSA 1978]; provided that: A. a written notice shall be satisfied by personal service on the controlling person of the registrant or the registrant’s agent for service of process in this state or by sending the notice by certified […]
Section 47-14-23 – Rulemaking authority.
The board may adopt rules that are reasonably necessary to implement, administer and enforce the provisions of the Appraisal Management Company Registration Act, including rules for obtaining copies of appraisals and other documents necessary to audit compliance with the Appraisal Management Company Registration Act. History: Laws 2009, ch. 214, § 23. ANNOTATIONS Effective dates. — […]
Section 47-15-1 – Short title.
This act [47-15-1 to 47-15-8 NMSA 1978] may be cited as the “Mortgage Foreclosure Consultant Fraud Prevention Act”. History: Laws 2010, ch. 58, § 1. ANNOTATIONS Effective dates. — Laws 2010, ch. 58 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 19, 2010, 90 days after […]
Section 47-14-10 – Controlling person.
Each appraisal management company applying to the board for registration in this state shall designate one controlling person that will be the main contact for all communication between the board and the appraisal management company. History: Laws 2009, ch. 214, § 10. ANNOTATIONS Effective dates. — Laws 2009, ch. 214 contained no effective date provision, […]
Section 47-15-2 – Definitions.
As used in the Mortgage Foreclosure Consultant Fraud Prevention Act: A. “compensation” means monetary payment, remuneration or other benefits received, including monetary donations made in conjunction with the performance of services; B. “foreclosure consultant”: (1) means a person who, directly or indirectly, makes a solicitation or offer to an owner to perform services for compensation […]
Section 47-14-11 – Controlling person requirements.
In order to serve as a controlling person of an appraisal management company, a person shall: A. certify to the board that the person has never had a certificate or a license issued by the board of this state, or the board of any other state, to act as an appraiser refused, denied, canceled or […]
Section 47-15-3 – Foreclosure consultant contract; requirements.
A. A foreclosure consulting contract shall: (1) be provided to the owner for review at least twenty-four hours before being signed by the owner; (2) be printed in at least fourteen-point type and written in the same language that was used by the owner in discussions with the foreclosure consultant to describe the consultant’s services […]
Section 47-14-12 – Employee requirements.
A. Any employee of the appraisal management company, or any person working on behalf of the appraisal management company, that has the responsibility of selecting independent appraisers for the performance of real estate appraisal services for the appraisal management company or the responsibility of reviewing completed appraisals shall have geographic and product competence and be […]