Section 47-14-21 - Enforcement. - New Mexico Statutes

47-14-21. Enforcement.

The board may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under the Appraisal Management Company Registration Act, levy fines or impose civil penalties not to exceed twenty-five thousand dollars ($25,000) per violation if, in the opinion of the board, an appraisal management company is attempting to perform, has performed or has attempted to perform any of the following acts:

A.     committing any act in violation of the Appraisal Management Company Registration Act;

B.     violating any rule or regulation adopted by the board in the interest of the public and consistent with the provisions of the Appraisal Management Company Registration Act;

C.     procuring a registration, license or certification by fraud, misrepresentation or deceit; or 

D.     violating the Real Estate Appraisers Act [61-30-1 NMSA 1978] or the federal Financial Institutions Reform Recovery and Enforcement Act of 1989.