A. The purpose of the Real Estate Appraisers Act [Chapter 61, Article 30 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. History: Laws 1990, ch. 75, § 2. ANNOTATIONSDelayed repeals. — For delayed repeal of this section, see 61-30-24 NMSA 1978.
New Mexico Legal Code