Section 61-30-2 - Purpose and legislative intent. (Repealed effective July 1, 2012.)
61-30-2. Purpose and legislative intent. (Repealed effective July 1, 2012.)
A. The purpose of the Real Estate Appraisers Act [61-30-1 NMSA 1978] is to provide a comprehensive body of law for the effective regulation and active supervision of the business of developing and communicating real estate appraisals in response to the federal Financial Institutions Examination Council Act of 1978, 12 U.S.C. 3301, et seq., as amended by Title XI, Real Estate Appraisal Reform Amendments, 12 U.S.C. 3331 through 3351.
B. The legislature intends that persons developing and communicating real estate appraisals be regulated by the state for the protection of those persons relying upon real estate appraisals.