FORTY-THIRD LEGISLATURE
                        SECOND SESSION, 1998
  
  
                                                February 17, 1998
  
  
  Mr. Speaker:
  
       Your BUSINESS AND INDUSTRY COMMITTEE, to whom has
  been referred
  
                        HOUSE BILL 472
  
  has had it under consideration and reports same with
  recommendation that it DO PASS, amended as follows:
  
       1.  On page 3, lines 7 through 12, strike Subsection C in
  its entirety and insert in lieu thereof:
  
            "C.  paying or receiving any rebate, profit,
  compensation, commission or payment of any nature to or from
  any unlicensed person, except direct payment to a principal
  party to the transaction.  Before a rebate, profit,
  compensation, commission or payment of any nature is made to a
  foreign broker or nonresident broker, the broker shall have on
  file a completed copy of a form for foreign brokers and
  nonresident brokers, adopted by the commission, that includes
  current license information and an agreement to comply with
  New Mexico statutes and commission rules;".
       
       2.  Reletter the succeeding subsections accordingly.
  
       3.  On page 4, line 8, strike the brackets and line-
  through and strike "through".
  
  and thence referred to the JUDICIARY COMITTEE.
  
                                Respectfully submitted,
  
  
  
                                <u>                                 
                                </u>                             Fred Luna, Chairman
  
  
  Adopted <u>                       </u>  Not Adopted <u>                         </u>
            (Chief Clerk)                      (Chief Clerk)
  
                       Date <u>               </u>
  
  The roll call vote was <u>6  </u> For<u> 1 </u> Against
  Yes:      6
  No:       J.G. Taylor
            Excused:  Alwin, Corley, Lutz, Varela, Luna
            Absent:   Getty
  
  .123434.1
  
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