Upon receipt of a petition as required by Section 61-29-23 NMSA 1978, the commission shall conduct a hearing in substantially the same manner and with the same authority as set forth in the Uniform Licensing Act [Chapter 61, Article 1 NMSA 1978]. The commission may compromise a claim based upon the application of a petitioner. History: Laws 1980, ch. 82, § 5; 1987, ch. 90, § 8; 2021, ch. 106, § 3. The 2021 amendment, effective July 1, 2021, revised procedures related to hearings on petitions for recovery pursuant to the Real Estate Recovery Fund Act; in the section heading, after "Commission", deleted "review"; after "the same manner", added "and with the same authority", and after "Uniform Licensing Act", deleted "including Sections 61-1-9 through 61-1-11 NMSA 1978. Review of the commission's decision shall be in the manner provided by Section 61-1-20 NMSA 1978".
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