After terminating or discharging an associate broker, how long does the active qualifying broker have to return the associate broker's license to the commission?

The correct timeframe for an active qualifying broker to return an associate broker's license to the commission after termination or discharge is 48 hours. This requirement ensures that the commission is promptly informed of any changes in the status of licenses, thereby maintaining accurate records of active and inactive brokers. Timely notification also serves to protect the interests of clients and the integrity of the real estate industry by ensuring that only licensed professionals are authorized to conduct business. Understanding this timeframe is crucial for brokers to comply with the regulations set forth by the New Mexico Real Estate Commission.