New Mexico presented new legislation concerning real estate appraisal management companies. The new law is labeled SB 138 and requires real estate appraisal management companies to acquire a $25,000 surety bond or alternative security in relation to registration. The surety bond guarantees the payment of administrative or judicial punishments that the Real Estate Appraisers Board imposes and any penalties or expenses imposed under punitive action from the Board. The surety bond must indemnify any individual who suffered losses that were a result of the company’s infringement of the law or the Board’s policy. The Board will establish the surety bond quantity required through regulations.