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
Universal Citation: 16 NM Admin Code 16.61.15.10
Current through Register Vol. 35, No. 18, September 24, 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.
E. Failure to comply with this rule may result in the loss of sponsor approval. The commission may investigate any claim of violation of this rule.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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