N.M. Admin. Code § 14.12.2.13

Current through Register Vol. 36, No. 1, January 14, 2025

Section 14.12.2.13 - SALESPERSONS

A. A salesperson's license entitles its holder to be employed, either directly or indirectly, with or without remuneration or consideration by a dealer or broker to engage in sales or lease-purchases of new and pre- owned manufactured homes through that dealership or brokerage as allowed by employer's license.

B. Each salesperson shall be licensed individually.

C. Custody of license.

(1) A salesperson's license shall be in the custody of his employer.

(2) Each salesperson shall be issued a wallet card by the division. The card shall contain the licensee's name, license number and the address of the employer.

D. Change of employment.

(1) When any salesperson is discharged or transfers his place of employment, the employer shall return the salesperson's license to the division within ten (10) days of the date of termination. The division shall place the license in an inactive status.

(2) Upon employing a salesperson whose license has been returned to the division, the division, upon notification from the new employer and the request for transfer, shall transfer the salesperson's license for the remainder of any unexpired term of such license. The division shall also issue a new wallet card.

E. A salesperson or associate broker shall not work for, be employed by or conduct transactions for more than one dealer or broker at the same time.

F. All transactions handled by or involving a salesperson must be reviewed and supervised by the employing dealer or broker. All documents prepared by the salesperson, in a transaction, must be reviewed by the dealer or broker.

G. A salesperson shall not act as a salesperson while his license is in the custody of the division.

H. A salesperson may not be licensed while there is an outstanding complaint with the manufactured housing division.

N.M. Admin. Code § 14.12.2.13

14.12.2.13 NMAC - Rp, 14.12.2.18 NMAC, 12-01-10