Section 61-30-5 - Real estate appraisers board created. (Repealed effective July 1, 2012.)
61-30-5. Real estate appraisers board created. (Repealed effective July 1, 2012.)
A. There is created a "real estate appraisers board" consisting of seven members. The board shall be administratively attached to the regulation and licensing department.
B. There shall be four real estate appraiser members of the board who shall be licensed or certified. Membership in a professional appraisal organization or association shall not be a prerequisite to serve on the board. No more than two real estate appraiser members shall be from any one licensed or certified category.
C. Board members shall be appointed to five-year terms and shall serve until their successor is appointed and qualified. Real estate appraiser members may be appointed for no more than two five-year terms.
D. No more than two members shall be from any one county within New Mexico, and at least one real estate appraiser member shall be from each congressional district.
E. One member of the board shall represent lenders or their assignees engaged in the business of lending funds secured by mortgages. Two members shall be appointed to represent the public. The public members shall not have been real estate appraisers or engaged in the business of real estate appraisals or have any financial interest, direct or indirect, in real estate appraisal or any real-estate-related business.
F. Vacancies on the board shall be filled by appointment by the governor for the unexpired term within sixty days of the vacancy.