New Mexico License Law
In New Mexico, the Real Estate Recovery Fund is designed to:
AFund NMREC's operating budget
BCompensate consumers who suffer financial losses due to licensee fraud, misrepresentation, or deceit that cannot be recovered from the licensee✓ Correct
CPay for continuing education courses
DInsure broker trust accounts
Explanation
New Mexico's Real Estate Recovery Fund provides compensation (up to statutory limits) to consumers who obtain court judgments against licensees for fraud, misrepresentation, or deceit, and cannot collect from the licensee. Access may result in license suspension.
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