(as of May 6, 2014) For Information Purposes Only · (as of May 6, 2014) For Information Purposes Only ... partnership, or corporation, ... In this article,

(as of May 6, 2014)

For Information Purposes Only

This document is a compilation of relevant provisions of each state’s appraiser licensing and certification laws

applicable to the review of appraisals of subject properties located within the state by state-licensed or certified

appraisers who are physically situated in another state. While efforts were made to verify the information

provided, this document may contain typographical or other errors and should not be assumed to be error free.

This document should not be used to replace either official documents or the advice of a qualified professional.

Any principles and conclusions presented in this document are subject to updates, court decisions and to local,

state, and federal laws and regulations and any revisions of such laws and regulations. Readers or users of this

document are responsible for obtaining expert advice or services from a qualified professional(s).

This document is provided “AS-IS” and without any warranty of any kind, expressed or implied. This document is

presented for informational purposes only with the understanding that the Appraisal Institute is not engaged in

rendering legal, accounting, or other professional advice or services. Nothing in this document is to be construed

as the offering of such advice or services. The Appraisal Institute does not warrant the quality, accuracy,

completeness or timeliness of the data and information contained in this document. All warranties are expressly

disclaimed.

Readers who rely or use this document assume the full risk of any reliance or use. In no event shall the

Appraisal Institute, its officers, directors, employees, Designated Members, Candidates, Practicing Affiliates,

Affiliates, agents or representatives be jointly or severally, liable for any actual, direct, indirect, punitive, or

consequential damages arising from such use, even if advised of the possibility of such damages.

Nondiscrimination Policy

The Appraisal Institute advocates equal opportunity and nondiscrimination and conduct their activities in

accordance with applicable federal, state, and local laws.

Copyright Notice

Copyright © 2014 Appraisal Institute. All rights reserved. No part of this document may be reproduced,

modified, rewritten, or distributed, electronically or by any other means, without the express written permission

of the Appraisal Institute.

Index

Alabama Montana

Alaska Nebraska

Arizona Nevada

Arkansas New Hampshire

California New Jersey

Colorado New Mexico

Connecticut New York

Delaware North Carolina

District of Columbia North Dakota

Florida Ohio

Georgia Oklahoma

Hawaii Oregon

Idaho Pennsylvania

Illinois Rhode Island

Indiana South Carolina

Iowa South Dakota

Kansas Tennessee

Kentucky Texas

Louisiana Utah

Maine Vermont

Maryland Virginia

Massachusetts Washington

Michigan West Virginia

Minnesota Wisconsin

Mississippi Wyoming

Missouri

1

RETURN TO INDEX

Alabama

State Appraiser Licensing & Certification Agency

Real Estate Appraisers Board

PO Box 304355

Montgomery, AL 36130-4355

Website: http://reab.state.al.us

Phone: 334-242-8747

Fax: 334-242-8749

§ 34-27A-2. Definitions

The following terms as used in this chapter shall have the following meanings:

(1) Appraisal. The act or process of developing an opinion of value of real property; an opinion of

the value of real property; of or pertaining to appraising real property and related functions

such as appraisal practice or appraisal services.

(3) Appraisal Management Company. An external third party including, but not limited to, a

corporation, partnership, sole proprietorship, subsidiary, or limited liability company, authorized

either by a creditor of a consumer credit transaction secured by the principal dwelling of a

consumer or by an underwriter of or other principal in the secondary mortgage markets, that

oversees a network or panel of more than four certified or licensed appraisers in a state or 25 or

more nationally in a given year, that perform appraisal management services.

(6) Appraisal review. The act of developing and communicating an opinion about the quality of the

work of another appraiser that was performed as part of an appraisal assignment, except that

an examination of an appraisal for grammatical, typographical, or other similar errors that do

not make a substantive valuation change is not an appraisal review.

(17) Financial Institution. An insured depository institution as defined in Section 3 of the Federal

Deposit Insurance Act or an insured credit union as defined in Section 101 of the Federal Credit

Union Act.

(21) Real estate appraisal services. The practice of accepting an assignment to develop and report an

opinion on the value of real property in conformance with the Uniform Standards of

Professional Appraisal Practice published by the Appraisal Foundation.

http://reab.state.al.us/

2

§ 34-27A-3. License required to do certain acts; statements as to licensure and certification in

appraisals, etc.; penalty for violation; assistance with appraisal.

(a) It shall be unlawful for any person, partnership, or corporation, for a fee or other valuable

consideration, or with the intention or expectation of receiving or collecting a fee or valuable

consideration from another, to do any of the following unless he or she is licensed under this

chapter:

(1) To be employed to perform or to perform an appraisal as defined in this chapter where the

subject property of the assignment lies within the borders of the State of Alabama.

(2) Present himself or herself, or allow himself or herself to be presented, as being able to

perform an appraisal for which a license is required under this chapter.

(c) Except where required by, or where necessary to fully comply with the provisions of the

Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L. No. 101-73, as

amended, and regulations issued pursuant thereto, this chapter shall not apply to, or preclude, a

person who is not a licensed real estate appraiser from performing real estate market analysis,

in that person's capacity as a licensed real estate broker or salesperson under this title, and this

chapter shall not apply to a licensed real estate broker or salesperson, who in the ordinary

course of business, gives an opinion to a potential seller or third party as to the recommended

listing price of real estate, or an opinion to a potential purchaser or third party as to the

recommended purchase price of real estate; and this chapter shall not apply to any employee,

officer, director, partner, or similar person making a valuation, analysis, market study, or

other appraisal for his or her employer or principal, including those related to any real estate

related financial transactions for or on behalf of a financial institution. The words “employer

or principal” as used in this subsection shall include any subsidiary, parent, affiliate, or partner

of the direct employer or principal. This chapter shall not require now or in the future any

person who lists or otherwise offers property for sale to have an appraisal of that property.

AMC Requirements

§ 34-27A-52. Limitations on ownership and employment.

(c) An employee of an appraisal management company, or any contractor working in any capacity

on behalf of an appraisal management company, that has any involvement in the actual

performance of appraisal services, or the review and analysis of completed appraisals in

Alabama shall be an appraiser certified in Alabama. The license classification shall qualify the

employee to perform all applicable job functions.

(x) Appraisal Review: The act of developing and communicating an opinion about the quality of the

work of another appraiser that was performed as part of an appraisal assignment, except that

https://a.next.westlaw.com/Link/Document/FullText?findType=l&pubNum=1077005&cite=UUID(IEEEABC10C8-2B445C9FFC6-B3E15879B33)&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

3

an examination of an appraisal for grammatical, typographical, or other similar errors that do

not make a substantive valuation change is not an appraisal review;

4

RETURN TO INDEX

Alaska


Board of Certified Real Estate Appraisers

PO Box 110806

Juneau, AK 99811-0806

Website: http://commerce.alaska.gov/dnn/cbpl/ProfessionalLicensing/RealEstateAppraisers.aspx

Phone: 907-465-8443

Fax: 907-465-2974

§ 08.87.100. Certificate required

A person is guilty of a class B misdemeanor who

(1) does not hold a certificate issued by the board, whose certificate is suspended or revoked, or

whose certificate has lapsed or terminated, and holds out as a certified real estate appraiser in

any way, orally or in writing, directly or by implication;

§ 08.87.340. Appraisals by uncertified appraisers permitted

Nothing in this chapter precludes a person who is not certified as a real estate appraiser from appraising

real estate for compensation if the person does not hold out to be a certified appraiser and if appraisal

by a certified appraiser is not required by federal law.

§ 08.87.900. Definitions

In this chapter:

(2) “appraisal” means an analysis, opinion, or conclusion prepared by a real estate appraiser

relating to the nature, quality, value, energy efficiency, or utility of specified interests in, or

aspects of, identified real estate, and includes a valuation appraisal, an analysis assignment, and

a review assignment;

(12) “review assignment” means an analysis, opinion, or conclusion prepared by a real estate

appraiser that forms an opinion as to the adequacy and appropriateness of a valuation appraisal

or an analysis assignment;

http://commerce.alaska.gov/dnn/cbpl/ProfessionalLicensing/RealEstateAppraisers.aspx

5

RETURN TO INDEX

Arizona


Arizona Board of Appraisal

15 S. 15th Avenue, Suite 103A

Phoenix, AZ 85007

Website: http://www.azboa.gov

Phone: 602-542-1558

Fax: 602-542-1598

§ 32-3601. Definitions

In this chapter, unless the context otherwise requires:

5. “Appraisal review” means the act of reviewing or the report that follows a review of an appraisal

assignment or appraisal report in which a real estate appraiser forms an opinion as to the

adequacy and appropriateness of the report being reviewed.

§ 32-3603. License or certificate use; exception

A. All real estate appraisals and appraisal reviews performed on real property in this state shall be

performed only by individuals licensed or certified in accordance with the requirements of this

chapter. No person, other than a state licensed or state certified appraiser, may assume or use

that title or any title, designation or abbreviation likely to create the impression of licensure or

certification as an appraiser by this state.

B. No person other than a state licensed or state certified appraiser may receive a fee for a real

estate appraisal or an appraisal review of real property in this state.

AMC Requirements


In this article, unless the context otherwise requires:

4. “Appraisal review” means the act or process of developing and communicating an opinion about

the quality of another appraiser's work that was performed as part of an appraisal assignment,

but does not include an examination of an appraisal for grammatical, typographical or other

similar errors that do not communicate an opinion related to the appraiser's data collection,

http://www.azboa.gov/

6

analysis, opinions, conclusions, estimate of value or compliance with the uniform standards of

professional appraisal practice.

§ 32-3670. Employee requirements

Any employee of an appraisal management company, or any person working on behalf of an appraisal

management company, who has the responsibility of selecting independent appraisers for the

performance of real property appraisal services for the appraisal management company or providing

appraisal review services on a completed appraisal, shall be appropriately trained and qualified in

compliance with this chapter.

7

RETURN TO INDEX

Arkansas


Appraiser Licensing and Certification Board

101 East Capitol, Suite 430

Little Rock, AR 72201

Website: http://www.arkansas.gov/alcb/

Phone: 501-296-1843

Fax: 501-296-1844

§ 17-14-103. Definitions

As used in the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et

seq., and § 17-14-301 et seq.:

(1) “Appraisal”:

(A) As a noun, means the act or process of estimating value or an estimate of value; and

(B) As an adjective, means of or pertaining to appraising and related functions, i.e., appraisal

practice and appraisal services;

(3) “Appraisal practice” and “appraisal services” mean the work or services performed by appraisers

for clients;

(6) “Appraiser” or “real estate fee appraiser” means any person who, for a fee or other

consideration, develops and communicates a real estate appraisal or otherwise gives an opinion

of the value of real estate or any interest in real estate;

§ 17-14-104. Exceptions to registration, licensing, or certification

(b)(2) The Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq.,

and § 17-14-301 et seq., does not apply to:

(A) Persons performing appraisals as officers or staff of a bank, savings and loan, or

credit union;

(c)(2) If an appraiser does not make appraisals for any federal agency, any federally insured lending

institution, the Federal Housing Administration, the Federal National Mortgage Association, the

Federal Deposit Insurance Corporation, the United States Bankruptcy Courts, the Federal

http://www.arkansas.gov/alcb/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000004&cite=ARSTS17-14-101&originatingDoc=N50B215E039AC11DE86D8BDEF91DD0749&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)




8

Highway Administration, the Federal Aviation Administration, the United States Department of

Veterans Affairs, the Internal Revenue Service, or any other federal or quasi-federal authority,

including appraisal work that is distributed via interstate commerce or appraisals involving

transactions above the threshold established by a federal financial institutions regulatory

agency, the appraiser is only required to be a state-registered appraiser under the Arkansas

Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-

301 et seq.

§ 17-14-302. License required--Membership in other organizations

(a) On or after December 31, 2001, it shall be a Class B misdemeanor for any individual to perform

an appraisal or provide appraisal services as defined in the Arkansas Appraiser Licensing and

Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., without

holding a registration, license, or certificate except as provided in § 17-14-104.

(b) A person shall not be excluded from obtaining a registration, license, or certification based

solely upon membership or lack of membership in any particular appraisal organization.

9

RETURN TO INDEX

California

State Appraiser Licensing & Certification Agency Bureau of Real Estate Appraisers 1102 Q Street, Suite 4100 Sacramento, CA 95811 Website: http://www.orea.ca.gov Phone: 916-552-9000 Fax: 916-552-9008

Business & Professions Code, § 11320. Practice without a license; prohibition; application of other

statutes

No person shall engage in federally related real estate appraisal activity governed by this part or assume

or use the title of or any title designation or abbreviation as a licensed appraiser in this state without

first obtaining a license as defined in Section 11302. Any person who willfully violates this provision is

guilty of a public offense punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the

Penal Code, or in a county jail for not more than one year, or by a fine not exceeding ten thousand

dollars ($10,000), or by both the imprisonment and fine. The possession of a license issued pursuant to

this part does not preempt the application of other statutes including the requirement for specialized

training or licensure pursuant to Article 3 (commencing with Section 750) of Chapter 2.5 of Division 1 of

the Public Resources Code.

Business & Professions Code, § 11321. Authorization to use title, designation and abbreviation;

authorization to perform and sign certified real estate appraisal reports

(a) No person other than a state licensed real estate appraiser may assume or use that title or any

title, designation, or abbreviation likely to create the impression of state licensure as a real

estate appraiser in this state.

(b) No person other than a licensee may sign an appraisal. A trainee licensed pursuant to Section

11327 may sign an appraisal if it is also signed by a licensee.

(c) No person other than a licensee holding a current valid license at the residential level issued

under this part to perform, make, or approve and sign an appraisal may use the abbreviation

SLREA in his or her real property appraisal business.

(d) No person other than a licensee holding a current valid license at a certified level issued under

this part to perform, make, or approve and sign an appraisal may use the term “state certified

real estate appraiser” or the abbreviation SCREA in his or her real property appraisal business. RETURN TO INDEX

http://www.orea.ca.gov/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000199&cite=CABPS11302&originatingDoc=N73FF4A8065ED11E0B61FFE5C86D6CF26&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000217&cite=CAPES1170&originatingDoc=N73FF4A8065ED11E0B61FFE5C86D6CF26&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_f383000077b35

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000217&cite=CAPES1170&originatingDoc=N73FF4A8065ED11E0B61FFE5C86D6CF26&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_f383000077b35

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000220&cite=CAPHS750&originatingDoc=N73FF4A8065ED11E0B61FFE5C86D6CF26&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000199&cite=CABPS11327&originatingDoc=N837A8DF082B811D8BE40B2081C49D94B&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000199&cite=CABPS11327&originatingDoc=N837A8DF082B811D8BE40B2081C49D94B&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

10

Colorado


Board of Real Estate Appraisers

1560 Broadway, Suite 925

Denver, CO 80203

Website: http://www.dora.state.co.us/real-estate/appraiserlicensing.htm

Phone: 303-894-2166

Fax: 303-894-2683

Comment from the state’s appraiser regulatory authority:

“The Colorado Board of Real Estate Appraisers does not require a review appraiser who conducts a "desk

review" while in another state to be licensed in Colorado. Such a reviewer should be licensed by and

subject to regulation by the state where they are located when they conduct the review. The Colorado

Board has serious concerns about the geographic competency and ability to access relevant data of the

appraiser who prepares a "desk review" of property in a distant market. In Colorado's view, if any part of

the review process is conducted in Colorado, including property inspections, data research, photography,

etc., licensure or a temporary permit is required.”

Source: http://cdn.colorado.gov/cs/Satellite/DORA-DRE/CBON/DORA/1251627722503


As used in this part 7, unless the context otherwise requires:

(1) “Appraisal”, “appraisal report”, or “real estate appraisal” means a written or oral analysis,

opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or

aspects of, identified real estate that is transmitted to the client upon the completion of an

assignment. These terms include a valuation, which is an opinion of the value of real estate, and

an analysis, which is a general study of real estate not specifically performed only to determine

value; except that the terms include a valuation completed by an appraiser employee of a

county assessor as defined in section 39-1-102(2), C.R.S. The terms do not include an analysis,

valuation, opinion, conclusion, notation, or compilation of data by an officer, director, or regular

salaried employee of a financial institution or its affiliate, made for internal use only by the

financial institution or affiliate, concerning an interest in real estate that is owned or held as

collateral by the financial institution or affiliate and that is not represented or deemed to be an

appraisal except to the financial institution, the agencies regulating the financial institution, and

any secondary markets that purchase real estate secured loans. An appraisal prepared by an

officer, director, or regular salaried employee of a financial institution who is not licensed or

http://www.dora.state.co.us/real-estate/appraiserlicensing.htm

http://cdn.colorado.gov/cs/Satellite/DORA-DRE/CBON/DORA/1251627722503

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000517&cite=COSTS39-1-102&originatingDoc=N50F5EF10E1F811E2A5EFA1428CB399FF&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_58730000872b1

11

certified under this part 7 shall contain a written notice that the preparer is not licensed or

certified as an appraiser under this part 7.

(4.3) “Financial institution” means any “bank” or “savings association”, as such terms are defined

in 12 U.S.C. sec. 1813, any state bank incorporated under title 11, C.R.S., any state or federally

chartered credit union, or any company that has direct or indirect control over any of such

entities.

(5) (a) “Real estate appraiser” or “appraiser” means a person who provides an estimate of the

nature, quality, value, or utility of an interest in, or aspect of, identified real estate and includes

one who estimates value and who possesses the necessary qualifications, ability, and experience

to execute or direct the appraisal of real property.

(b) “Real estate appraiser” does not include:

(I) Any person who conducts appraisals strictly of personal property;

(II) Any person licensed as a broker pursuant to part 1 of this article who provides an

opinion of value that is not represented as an appraisal and is not used for purposes of

obtaining financing;

(III) Any person licensed as a certified public accountant pursuant to article 2 of this title,

and otherwise regulated, provided such opinions of value for real estate are not

represented as an appraisal;

(IV) Any corporation, which is acting through its officers or regular salaried employees, when

conducting a valuation of real estate property rights owned, to be purchased, or sold by

the corporation;

(V) Any person who conducts appraisals strictly of water rights or of mineral rights;

(VI) Any right-of-way acquisition agent employed by a public entity who provides an opinion

of value that is not represented as an appraisal when the property being valued is five

thousand dollars or less;

(VII) Any officer, director, or regular salaried employee of a financial institution or its affiliate

who makes, for internal use only by the said financial institution or affiliate, an analysis,

evaluation, opinion, conclusion, notation, or compilation of data with respect to an

appraisal so long as such person does not make a written adjustment of the appraisal's

conclusion as to the value of the subject real property;

(VIII) Any officer, director, or regular salaried employee of a financial institution or its affiliate

who makes such an internal analysis, valuation, opinion, conclusion, notation, or

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS1813&originatingDoc=N50F5EF10E1F811E2A5EFA1428CB399FF&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

12

compilation of data concerning an interest in real estate that is owned or held as

collateral by the financial institution or its affiliate.

§ 12-61-712. Unlawful acts

(1) It is unlawful for any person to:

(a) Violate any provision of section 12-61-710(1)(c), (1)(e), or (1)(f), or to perform a real

estate appraisal in conjunction with a debt instrument that is federally guaranteed or in

the federal secondary market or regulated pursuant to title 12, U.S.C., without first

having obtained a license or certificate from the board pursuant to this part 7;

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000517&cite=COSTS12-61-710&originatingDoc=NFBBBC830E28D11E2B45DEDA738257200&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_626f000023d46

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000517&cite=COSTS12-61-710&originatingDoc=NFBBBC830E28D11E2B45DEDA738257200&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_64700000c2984

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000517&cite=COSTS12-61-710&originatingDoc=NFBBBC830E28D11E2B45DEDA738257200&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_c48800003a613

13

RETURN TO INDEX

Connecticut


Department of Consumer Protection

165 Capitol Avenue

Hartford, CT 06106

Website: http://www.ct.gov/dcp/site/default.asp?dcpNav_GID=1539

Phone: 860-713-6146

Fax: 860-706-1364


As used in sections 20-500 to 20-529e, inclusive, unless the context otherwise requires:

(1) “Appraisal” means the practice of developing an opinion of the value of real property, in

conformance with the USPAP.

§ 20-501. Licensing and certification. Expiration of certain licenses

(a) No person shall act as a real estate appraiser or provisional appraiser or engage in the real

estate appraisal business without the appropriate certification, license, limited license or

provisional license issued by the commission, unless exempted by the provisions of sections 20-

500 to 20-528, inclusive.

(b) No person licensed as a limited appraiser shall perform an appraisal in connection with a

federally related transaction, as defined in FIRREA. Notwithstanding any provision of this

chapter: (1) Limited appraiser licenses and renewals of such limited appraiser licenses issued

pursuant to this chapter shall expire no later than September 30, 2006; and (2) no limited

appraiser licenses shall be issued or renewed on or after October 1, 2006.

(c) Notwithstanding any provision of this chapter: (1) Licenses and renewals for licensed appraisers

issued pursuant to this chapter shall expire no later than September 30, 2003; and (2) no such

license shall be issued or renewed on or after October 1, 2003.

http://www.ct.gov/dcp/site/default.asp?dcpNav_GID=1539

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000264&cite=CTSTS20-529E&originatingDoc=NF212BBB09FC211DF811CA363A68A89CF&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000264&cite=CTSTS20-500&originatingDoc=N16309870F40C11DB921FC2ACE3184B5D&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)



14

Delaware


Division of Professional Regulation

861 Silver Lake Blvd, Suite 203

Dover, DE 19904

Website: http://www.dpr.delaware.gov/boards/realestateappraisers/index.shtml

Phone: 302-677-7309

Fax: 302-739-2711

Title 24, § 4002. Definitions

The following words, terms and phrases, when used in this chapter shall have the meanings ascribed to

them under this section, except where the context clearly indicates a different meaning:

(1) ‘‘Appraisal” shall mean an analysis, opinion, or conclusion relating to the nature, quality, value,

or utility of specified interests in, or aspects of, identified real estate as of a specific date. An

appraisal may be classified by subject matter into either a valuation or an analysis. A valuation is

an estimate of the value of real estate or real property. An analysis is a study of real estate or

real property other than estimating value. A competitive market analysis is not an appraisal.

(5) “Appraisal review” means the act or process of developing and communicating an opinion about


but does not include an examination of an appraisal for grammatical, typographical or other

similar errors that do not communicate an opinion related to the appraiser's data collection,

analysis, opinions, conclusions, estimate of value or compliance with the Uniform Standards of

Professional Appraisal Practice.

(19) ‘‘Real estate appraiser” means any person who advises, consults, or prepares analyses with

respect to real estate values, uses, sales, developments or disposition, including acquisitions by

eminent domain, or renders opinions relevant to the marketability of real estate, as a whole or

partial vocation.

Title 24, § 4007. Certificate or license required

(a) No person, partnership, association, or corporation shall hold himself, herself, or itself out to the

public in this State as being qualified to act as a real estate appraiser, or advertise, or engage in

the practice of appraising or assume to act as an appraiser, or use in connection with the

person's, partnership's, association's or corporation's name, or otherwise assume or use, any

title or description conveying or tending to convey the impression that the person, partnership,

http://www.dpr.delaware.gov/boards/realestateappraisers/index.shtml

15

association or corporation is qualified to act as an appraiser, unless such person has been duly

certified or licensed under this chapter.

Title 24, § 4019. Exception

(a) This chapter shall not apply to any Delaware licensed real estate salesperson or broker, who

prepares a competitive market analysis survey used only for the purpose of listing a property for

sale or lease, nor to any individual, who prepares real estate appraisals for the licensee's full-

time employer for the employer's internal use only, and which is performed in the regular

course of employee's position.

Title 24, § 4027. Appraisal management company employees

Any employee of an appraisal management company that performs an appraisal review shall have

demonstrated knowledge of the Uniform Standards of Professional Appraisal Practice and hold a valid

appraiser license or certification in this or any state.

16

RETURN TO INDEX

District of Columbia


Pearson VUE

8401 Corporate Drive, Suite 250

Landover, DC 20785

Website: http://www.pearsonvue.com/dc/appraisers/

Phone: 202-442-4341

Fax: 202-698-4329

§ 47-2853.151. Scope of practice for real estate appraisers.

For the purposes of this part, the term “real estate appraiser” means any person who renders or offers

to render professional services to persons, groups, or organizations in the act or process of estimating

the value of real property and real estate.

§ 47-2853.153. Certain representations prohibited.

(a) It shall be unlawful for any person in the District to directly or indirectly engage in, advertise,

conduct the business of, or act in any capacity as a licensed or certified real estate appraiser or

use any title, designation, or abbreviation likely to create the impression of licensure by the

District as a real property appraiser for compensation within the District without first obtaining

a license as provided in this subchapter.

http://www.pearsonvue.com/dc/appraisers/

17

RETURN TO INDEX

Florida


Division of Real Estate/DBPR

400 W. Robinson Street, Suite N801

Orlando, FL 32801-1772

Website: http://www.myflorida.com/dbpr

Phone: (850) 487-1395

Fax: (407) 317-7245

475.611. Definitions

(1) As used in this part, the term:

(a) “Appraisal” or “appraisal services” means the services provided by certified or licensed

appraisers or registered trainee appraisers, and includes:

1. “Appraisal assignment” denotes an engagement for which a person is employed or

retained to act, or could be perceived by third parties or the public as acting, as an agent

or a disinterested third party in rendering an unbiased analysis, opinion, review, or

conclusion relating to the nature, quality, value, or utility of specified interests in, or

aspects of, identified real property.

2. “Analysis assignment” denotes appraisal services that relate to the employer's or

client's individual needs or investment objectives and includes specialized marketing,

financing, and feasibility studies as well as analyses, opinions, and conclusions given in

connection with activities such as real estate brokerage, mortgage banking, real estate

counseling, or real estate consulting.

3. “Appraisal review assignment” denotes an engagement for which an appraiser is

employed or retained to develop and communicate an opinion about the quality of

another appraiser's appraisal, appraisal report, or work. An appraisal review may or may

not contain the reviewing appraiser's opinion of value.

(e) “Appraisal report” means any communication, written or oral, of an appraisal, appraisal

review, appraisal consulting service, analysis, opinion, or conclusion relating to the nature,

quality, value, or utility of a specified interest in, or aspect of, identified real property, and

includes any report communicating an appraisal analysis, opinion, or conclusion of value,

regardless of title. However, in order to be recognized in a federally related transaction, an

appraisal report must be written.

http://www.myflorida.com/dbpr

18

(f) “Appraisal review” means the act or process of developing and communicating an opinion

about the quality of another appraiser's appraisal, appraisal report, or work.

475.612. Certification, licensure, or registration required

(1) A person may not use the title “certified real estate appraiser,” “licensed real estate appraiser,” or

“registered trainee real estate appraiser,” or any abbreviation or words to that effect, or issue an

appraisal report, unless such person is certified, licensed, or registered by the department under this

part. However, the work upon which an appraisal report is based may be performed by a person who is

not a certified or licensed appraiser or registered trainee appraiser if the work is supervised and

approved, and the report is signed, by a certified or licensed appraiser who has full responsibility for all

requirements of the report and valuation service. Only a certified or licensed appraiser may issue an

appraisal report and receive direct compensation for providing valuation services for the appraisal

report. A registered trainee appraiser may only receive compensation for appraisal services from her or

his authorized certified appraiser.

19

RETURN TO INDEX

Georgia



229 Peachtree Street, NE

Atlanta, GA 30303-1605

Website: http://www.greab.state.ga.us/

Phone: 404-656-3916

Fax: 404-656-6650

§ 43-39A-2. Definitions

As used in this chapter, the term:

(1) “Analysis” means a study of real estate or real property other than one estimating value.

(2) “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion prepared by an

appraiser relating to the nature, quality, value, or utility of specified interests in, or aspects of,

identified real estate. An appraisal may be classified by subject matter into either a valuation or

an analysis.

(5) “Appraisal report” means any communication, written or oral, of an appraisal. For purposes of

this chapter, the testimony of an appraiser dealing with the appraiser's analyses, conclusions, or

opinions concerning identified real property is deemed to be an oral appraisal report.



except that an examination of an appraisal for grammatical, typographical, or other similar

errors shall not be an appraisal review.

(8) “Appraiser” means any person who, for a valuable consideration or with the intent or

expectation of receiving the same from another, engages in real estate appraisal activity on any

type of real estate or real property.

(23) “Real estate appraisal activity” means the act or process of valuation of real estate or real

property and preparing an appraisal report.

(28) “Valuation” means an estimate of the value of real estate or real property.

http://www.greab.state.ga.us/

20

§ 43-39A-25. Person performing certain acts deemed appraiser; unlawful acts; cease and desist orders

(a) Any person who, directly or indirectly, with the intention or upon the promise of receiving any

valuable consideration, offers, attempts, or agrees to perform or performs any single act of real estate

appraisal activity defined in Code Section 43-39A-2, whether as a part of an appraisal or as an appraisal,

shall be deemed an appraiser within the meaning of this chapter. The commission of a single such act by

a person who is required to have an appraiser classification under this chapter but who has not obtained

such appraiser classification shall constitute a violation of this chapter.

(b) It shall be unlawful for any person, directly or indirectly, to engage in or conduct the business of, or

advertise or hold himself or herself out as engaging in or conducting the business of, or act in the

capacity of, an appraiser within this state without first obtaining an appraiser classification as provided

in this chapter.

§ 43-39A-24. Unlawful to engage in real estate appraisal activity without appraiser classification

exceptions

(a) Except as provided in this Code section, on and after July 1, 1991, it shall be unlawful for anyone to

engage in real estate appraisal activity in this state without first obtaining an appraiser classification as

provided in this chapter. Nothing in this chapter shall be construed to prohibit any person who is

licensed to practice in this state under any other law from engaging in the practice for which such

person is licensed.

(b) This chapter shall not apply to:

(7) Unless otherwise required by federal law or regulation, a person appraising real estate or

real property exclusively for the use of a bank, a savings and loan association, or a credit union.

(c) The exceptions provided by subsection (b) of this Code section shall not apply to any person who

holds an appraiser classification.

AMC Requirements

§ 43-39A-7. Application for appraiser classification

(b.1) Any employee or independent contractor of an appraisal management company who performs

appraisal review services must be an individual who holds a valid appraiser license or certification issued

pursuant to this chapter.

21

RETURN TO INDEX

Hawaii


Real Estate Appraisers Section

PO Box 3469

Honolulu, HI 96801

Website: http://www.hawaii.gov/dcca/areas/pvl/programs/realestateappraiser/

Phone: 808-586-2701

Fax: 808-586-2689

HRS § 466K-4. Practice as a real estate appraiser; uniform standards

(a) No person may practice as a real estate appraiser in this State unless that person has been

licensed or certified to practice in accordance with this chapter and rules adopted by the

director of commerce and consumer affairs pursuant to chapter 91. All real estate appraisers

who are licensed or certified to practice in this State shall comply with the current Uniform

Standards of Professional Appraisal Practice approved by the director when performing

appraisals in connection with a federally or non-federally related real estate transaction, or

certify compliance with the current Uniform Standards of Professional Appraisal Practice in

connection with any arbitration proceeding to determine the fair market value, fair market

rental value, or fair and reasonable rent of real estate.

§ 16-114-2. Definitions.

As used in chapter 466K, HRS, and in this chapter:

“Appraisal” or “appraisal report” means a written or oral statement independently and impartially

prepared, setting forth an opinion as to the market value of an adequately described property as of a

specific date(s), supported by the presentation and analysis of relevant market information.

“Appraiser” or “real estate appraiser” means a state licensed or state certified appraiser who for a fee

or other valuable consideration prepares appraisal reports.

“Market value” means the most probable price which a property should bring in a competitive and open

market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, and

knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the

consummation of a sale as of a specified date and the passing of title from seller to buyer under

conditions whereby:

http://www.hawaii.gov/dcca/areas/pvl/programs/realestateappraiser/

22

(1) Buyer and seller are typically motivated;

(2) Both parties are well informed or well advised, and acting in what each considers in the

party's own best interest;

(3) A reasonable time is allowed for exposure in the open market;

(4) Payment is made in terms of cash in United States dollars or in terms of financial

arrangements comparable thereto; and

(5) The price represents the normal consideration for the property sold unaffected by

special or creative financing or sales concessions granted by any person associated with

the sale.

In applying this definition of market value, adjustments to the comparable properties must be made for

special or creative financing or sales concessions. No adjustments are necessary for those costs that are

normally paid by sellers as a result of tradition or law in a market area; these costs are readily

identifiable since the seller pays these costs in virtually all sales transactions. Special or creative

financing adjustments can be made to the comparable properties by comparisons to financing terms

offered by a third party financial institution that is not already involved in the property or transaction.

Any adjustment should not be calculated on a mechanical dollar-for-dollar cost of the financing or

concession, but the dollar amount of any adjustment should approximate the market's reaction to the

financing or concessions based on the appraiser's judgment.

“Real estate” or “real property” means an identified parcel or tract of land, with improvements, and

includes easements, rights of way, undivided or future interests, or similar rights in a tract of land, but

does not include mineral rights, timber rights, growing crops, water rights, or similar interests severable

from the land when the transaction does not involve the associated parcel or tract of land.

§ 16-114-19. License or Certification Required.

It shall be unlawful for an individual who is not licensed or certified under chapter 466K, HRS, and this

chapter to prepare or hold oneself out as being able to prepare an appraisal in connection with a

federally related transaction or non-federally related transaction requiring licensure or certification

under chapter 466K, HRS, and this chapter.

23

RETURN TO INDEX

Idaho


Real Estate Appraiser Board

700 W. State Street

Boise, ID 83702

Website: http://ibol.idaho.gov/IBOL/BoardPage.aspx?Bureau=REA

Phone: 208-334-3233

Fax: 208-334-3945


As used in this chapter:

(1) “Appraisal” or “real estate appraisal” means an analysis, opinion or conclusion relating to the value,

nature, quality, or utility of specified interests in, or aspects of, identified real estate.

(2) “Appraisal assignment” means an engagement for which an appraiser is employed or retained to act,

or would be perceived by third parties or the public as acting, as a disinterested third party in rendering

an unbiased opinion or conclusion relating to the value, nature, quality or utility of specified interests in,

or aspects of, identified real estate.

(9) “Real estate appraiser” or “appraiser” means a person who for a fee or other valuable consideration

or the expectation thereof, develops and communicates real estate appraisals or otherwise gives an

opinion of the value of real estate or any interest therein.

§ 54-4103. Use of term “licensed” or “certified” appraiser--Unlawful practice of appraisal

It shall be unlawful for any person in this state to assume or use the title “state licensed” or “state

certified real estate appraiser” or any title, designation or abbreviation likely to create the impression of

licensure or certification by the state of Idaho for any real estate appraisal, unless the person has first

been licensed or certified by the real estate appraiser board under the provisions of this chapter. The

board may adopt for the exclusive use of persons licensed or certified under the provisions of this

chapter, a seal, symbol or other mark identifying the user as a state licensed or certified real estate

appraiser.

It shall be unlawful for any person to appraise, practice appraisal, assume to act as, or hold themselves

out to the public as an appraiser, or carry on the calling of an appraiser within the state, or to perform

an appraisal of real estate located in this state unless the person has first been licensed or certified by

the board under the provisions of this chapter.

http://ibol.idaho.gov/IBOL/BoardPage.aspx?Bureau=REA

24

RETURN TO INDEX

Illinois


Real Estate Appraisal Administration Division

100 W. Randolph Street, 9th Floor

Chicago, IL 60601

Website: http://www.idfpr.com/dpr/re/APPRAISAL.asp

Phone: 312-793-6608

Fax: 312-793-8720

458/1-10. Definitions

As used in this Act, unless the context otherwise requires:

“Appraisal” means (noun) the act or process of developing an opinion of value; an opinion of value

(adjective) of or pertaining to appraising and related functions, such as appraisal practice or appraisal

services.

“Appraisal assignment” means a valuation service provided as a consequence of an agreement between

an appraiser and a client.

“Appraisal practice service” means valuation services performed by an individual acting as an appraiser,

including, but not limited to, appraisal, appraisal review, or appraisal consulting.

“Appraisal review” means the act or process of developing and communicating an opinion about the

quality of another appraiser's work that was performed as part of an appraisal, appraisal review, or

appraisal assignment.

“Appraiser” means a person who performs real estate or real property appraisals.

458/5-5. Necessity of license; use of title; exemptions

(a) It is unlawful for a person to (i) act, offer services, or advertise services as a State certified general

real estate appraiser, State certified residential real estate appraiser, or associate real estate trainee

appraiser, (ii) develop a real estate appraisal, (iii) practice as a real estate appraiser, or (iv) advertise or

hold himself or herself out to be a real estate appraiser without a license issued under this Act. A person

who violates this subsection is guilty of a Class A misdemeanor for a first offense and a Class 4 felony for

any subsequent offense.

http://www.idfpr.com/dpr/re/APPRAISAL.asp

25

RETURN TO INDEX

Indiana


Real Estate Appraiser Lic. and Cert. Board

402. W. Washington, Room W072

Indianapolis, IN 46204

Website: http://www.in.gov/pla/appraiser.htm

Phone: 317-234-3009

Fax: 317-233-5559

25-34.1-3-8 Real estate appraiser licensure and certification program; necessity for licensure or

certification

(a) This section does not preclude a person who:

(1) is not licensed or certified as a real estate appraiser under this section; and

(2) is licensed as a broker under this article;

from appraising real estate in Indiana for compensation.

(b) As used in this section, “federal act” refers to Title XI of the Financial Institutions Reform, Recovery,

and Enforcement Act (12 U.S.C. 3331 through 3351).

(c) The commission shall adopt rules to establish a real estate appraiser licensure and certification

program to be administered by the board.

(d) The commission may not adopt rules under this section except upon the action and written

recommendations of the board underIC 25-34.1-8-6.5.

(e) The real estate appraiser licensure and certification program established by the commission under

this section must meet the requirements of:

(1) the federal act;

(2) any federal regulations adopted under the federal act; and

(3) any other requirements established by the commission as recommended by the board,

including requirements for education, experience, examination, reciprocity, and temporary

practice.

http://www.in.gov/pla/appraiser.htm

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3331&originatingDoc=NC7A2B160155311DD9FD783184E9C6655&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3351&originatingDoc=NC7A2B160155311DD9FD783184E9C6655&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000009&cite=INS25-34.1-8-6.5&originatingDoc=NC7A2B160155311DD9FD783184E9C6655&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

26

(f) The real estate appraiser licensure and certification requirements established by the commission

under this section must require a person to meet the standards for real estate appraiser certification

and licensure established:

(1) under the federal act;

(2) by federal regulations; and

(3) under any other requirements established by the commission as recommended by the

board, including requirements for education, experience, examination, reciprocity, and

temporary practice.

(g) The commission may require continuing education as a condition of renewal for real estate appraiser

licensure and certification.

(h) The following are not required to be a licensed or certified real estate appraiser to perform the

requirements of IC 6-1.1-4:

(1) A county assessor.

(2) A township assessor.

(3) An employee of a county or township assessor.

(i) Notwithstanding IC 25-34.1-3-2(a):

(1) only a person who receives a license or certificate issued under the real estate appraiser licensure

and certification program established under this section may appraise real estate involved in

transactions governed by:

(A) the federal act; and

(B) any regulations adopted under the federal act;

as determined under rules adopted by the commission, as recommended by the board; and

(2) a person who receives a license or certificate issued under the real estate appraiser licensure and

certification program established under this section may appraise real estate not involved in

transactions governed by:

(A) the federal act; and

(B) any regulations adopted under the federal act;

as determined under rules adopted by the commission, as recommended by the board.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000009&cite=INS25-34.1-3-2&originatingDoc=NC7A2B160155311DD9FD783184E9C6655&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_8b3b0000958a4

27

25-34.1-8-12 Real estate appraisal practice or education without license or certification; injunctions;

enforcement

Sec. 12. (a) A person who:

(1) performs:

(A) the acts of a licensed real estate appraiser without a license; or

(B) the acts of a certified real estate appraiser without a certificate; or

(2) conducts or solicits or accepts enrollment of students for a course without course approval as

required by section 13 of this chapter;

commits a Class B infraction. When a judgment is entered for an offense under this section, the court

shall add to any fine imposed the amount of any fee or other compensation earned in the commission of

the offense. Each transaction constitutes a separate offense.

Provisions Applicable to AMCs

25-34.1-11-12 “Appraisal review” defined

Sec. 12. (a) As used in this section, “appraisal review” means the USPAP Standard 3 process of

developing and communicating an opinion about the quality of an independent real estate appraiser's

work that is performed as part of an appraisal assignment made by an appraisal management company.

However, the term does not include:

(1) an examination of an appraisal solely for grammatical errors, typographical errors, or similar

errors; or

(2) a quality control examination for completeness.

(b) An individual who performs an appraisal review must hold a license or certificate under IC 25-34.1-3-

8 or a license as a real estate broker under IC 25-34.1

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000009&cite=INS25-34.1-8-13&originatingDoc=N04C10D9079B011DF9CD6F1BDD5B9E084&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

28

RETURN TO INDEX

Iowa


Real Estate Appraiser Examining Board

200 E. Grand St. Suite 350

Des Moines, IA 50309

Website: http://www.state.ia.us/government/com/prof/appraiser/home.html

Phone: 515-725-9021

Fax: 515-725-9032

543D.2. Definitions

As used in this chapter, unless the context otherwise requires:

1. “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion relating to the nature,

quality, value, or utility of specified interests in, or aspects of, identified real estate. An appraisal may be

classified by subject matter into either a valuation or an analysis.

A “valuation” is an estimate of the value of real estate or real property. An “analysis” is a study of real

estate or real property other than estimating value.

2. “Appraisal assignment” means an engagement for which an appraiser is employed or retained to act,

or would be perceived by third parties or the public as acting as a disinterested third party in rendering

an appraisal, valuation, or analysis.

4. “Appraisal report” means any communication of an appraisal.

9. “Review appraiser” means a person who is responsible for the administrative approval of the

appraised value of real property or assures that appraisal reports conform to the requirements of law

and policy, or that the value of real property estimated by appraisers represents adequate security, fair

market value, or other defined value.

10. “Specialized services” means a hypothetical or other special valuation, or an analysis or an appraisal

which does not fall within the definition of an appraisal assignment.

543D.15. Use of term

1. The term “certified real estate appraiser” shall only be used to refer to individuals who hold the

certificate and shall not be used in connection with or as part of the name or signature of a firm,

partnership, corporation, or group, or in a manner that it may be interpreted as referring to a firm,

http://www.state.ia.us/government/com/prof/appraiser/home.html

29

partnership, corporation, group, other business entity, or anyone other than an individual holder of the

certificate.

30

RETURN TO INDEX

Kansas


Real Estate Appraisal Board

700 SW Jackson, Suite 1102

Topeka, KS 66603

Website: http://www.kansas.gov/kreab/

Phone: 785-296-6736

Fax: 785-368-6443

K.S.A. 58-4102 K.S.A. 58-4102 - Definitions

As used in this act:

(a) “Appraisal” or “real estate appraisal” means an analysis, opinion or conclusion prepared by a

real estate appraiser relating to the nature, quality, value or utility of specified interests in, or

aspects of, identified real estate. An appraisal may be classified by subject matter into either a

valuation or an analysis. A valuation is an estimate of the value of real estate or real property.

An analysis is a study of real estate or real property other than estimating value.

(b) “Appraisal assignment” means an engagement for which an appraiser is employed or retained

to act, or would be perceived by third parties or the public as acting, as a disinterested party in

rendering an unbiased analysis, opinion or conclusion relating to the nature, quality, value or

utility of specified interests in, or aspects of, identified real estate.

(i) “Real estate-related financial transaction” means any transaction involving: (1) The sale, lease,

purchase, investment in or exchange of real property, including interests in property or the

financing thereof; (2) the refinancing of real property or interests in real property; (3) the use of

real property or interests in property as security for a loan or investment, including mortgage-

backed securities; or (4) a federally related transaction.

(j) “Real property” means one or more defined interests, benefits and rights inherent in the

ownership of real estate.

(n) “Written appraisal” means a written statement used in connection with a real estate-related

financial transaction that is independently and impartially prepared by a licensed or certified

appraiser setting forth an opinion of defined value of an adequately described property as of a

specific date, supported by presentation and analysis of relevant market information.

http://www.kansas.gov/kreab/

31

(o) “Appraiser” means a person who develops and communicates real estate appraisals for real

estate-related financial transactions and holds a current valid certification or license issued to

such person under the provisions of K.S.A. 58-4101 et seq., and amendments thereto.

58-4103. Certification or licensure, when required; temporary certification or licensure; penalty for

violations; exemptions

(a) Except as provided in subsection (b), no person, other than a state certified or licensed

appraiser, shall:

(1) Engage in any written appraisal in connection with a real estate-related financial

transaction;

(2) assume or use the title of state certified or licensed appraiser or any title, designation

or abbreviation likely to create the impression of certification or licensure as a real

estate appraiser by this state; or

(3) advertise or otherwise represent in any manner that such person is a state certified or

licensed appraiser.

(e)(1) The provisions of paragraph (1) of subsection (a) shall not be applicable to financial institutions

engaging in real estate-related financial transactions and otherwise subject to K.S.A. 58-4101 et

seq., and amendments thereto, when the following conditions are met:

(A) An employee of the financial institution conducts an appraisal as defined in subsection

(a) of K.S.A. 58-4102, and amendments thereto, or conducts an evaluation in

accordance with state and federal banking regulations; and

(B) when the loan that is the subject of such appraisal is not intended to be sold in the

secondary market and is intended to be held by the financial institution for the life of

the loan.

(2) If the financial institution disposes of the loan granted under paragraph (1)(B) of this subsection

in the secondary market, such financial institution shall be required to obtain an appraisal by a

state licensed or certified appraiser as required by paragraph (1) of subsection

32

RETURN TO INDEX

Kentucky



135 W. Irvine Street, Suite 301

Richmond, KY 40475

Website: http://kreab.ky.gov/

Phone: 859-623-1658

Fax: 859-623-2598

324A.010 Definitions for KRS 324A.010 to 324A.090

As used in KRS 324A.010 to 324A.090, unless the context requires otherwise:

(1) “Appraisal” means an oral or written communication independently and impartially prepared by

a licensed or certified appraiser setting forth an analysis, opinion, or conclusion relating to the

nature, quality, value, or utility of specified interests in, or aspects of, identified real estate, as of

a specified date, for or in expectation of compensation;

324A.030 Assumption or use of title, designation, or abbreviation to create impression of certification

or licensure prohibited; powers of certified or licensed appraiser; appraiser for Transportation Cabinet

(8) A person shall not provide appraisal, appraisal review or appraisal consulting assignments or

perform any of the duties usually performed by a licensed or certified real property appraiser for

a federally related transaction unless the person at the time holds a license or certificate of real

property appraiser issued and validly existing under the laws of the Commonwealth of Kentucky

, as provided in this chapter.

Requirements Applicable to AMCs

201 KAR 30:360. Operation of an appraisal management company

(9) A registrant shall require that if an appraisal report prepared by a Kentucky licensed or certified

real property appraiser is reviewed by a state licensed or certified real property appraiser, the

review appraiser shall also be certified by the Kentucky Real Estate Appraisers Board.

http://kreab.ky.gov/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000010&cite=KYSTS324A.090&originatingDoc=N668BF970B81E11DAAB5F9DF4262A5A03&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

33

RETURN TO INDEX

Louisiana



9071 Interline Avenue

Baton Rouge, LA 70809

Website: http://www.reab.state.la.us/

Phone: 225-925-1923

Fax: 225-925-4501

LSA-R.S. 37:3392. Definitions

As used in this Chapter, the following words have the meaning ascribed to them in this Section unless

the context clearly indicates otherwise:

(1) “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion relating to the

nature, quality, value, or utility of specified interests in, or aspects, including energy efficiency,

of, identified real estate, for or in expectation of compensation.

(3) “Appraisal report” means any communication, written or oral, of an analysis, opinion, or

conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects,

including energy efficiency, of, identified real estate.

LSA-R.S. 37:3393. License required; penalty for unlicensed real estate appraiser activity

A. No person, other than a state licensed real estate appraiser, shall assume or use that title or any

title, designation, or abbreviation that may create the impression of being licensed as a real

estate appraiser by this state.

B. No licensed real estate appraiser shall assume or use any title, designation, or abbreviation that

may create the impression of being licensed in a class other than that for which his license has

been issued.

C. It shall be unlawful for any individual, for a fee or other valuable consideration, or with the

intention or expectation of receiving or collecting a fee or valuable consideration from another,

to do any of the following unless the individual is licensed under this Chapter:

(1) Be employed to perform or perform an appraisal as defined in this Chapter where the

subject property of the assignment lies within the borders of the state of Louisiana.

http://www.reab.state.la.us/

34

(2) Present himself, or allow himself to be presented, as being able to perform an appraisal

for which a license is required under this Chapter.

AMC Requirements

LSA-R.S. 37:3415.2. Definitions

As used in this Chapter, the following words have the meaning ascribed to them in this Section unless

the context clearly indicates otherwise:

(1) “Appraisal” means the act or process of developing an opinion of value of real property

following the appraisal process defined by the Uniform Standards for Professional Appraisal

Practice.

(4) “Appraiser” is defined as one who is expected to perform valuation services competently and in

a manner that is independent, impartial, and objective.

(10) “Real estate appraisal services” means residential valuation services performed by an individual

acting as an appraiser, including but not limited to appraisal, appraisal review, or appraisal

consulting, as these services are defined under the Uniform Standards for Professional Appraisal

Practice.

(11) “Administrative review”, “compliance review”, “quality check”, or “QC” means a process that

checks an appraisal report for compliance with the Uniform Standards of Professional Appraisal

Practice or other stipulated requirements.


the quality of another appraiser's work that was performed as part of an appraisal assignment.

The term shall not include an examination of an appraisal for grammatical, typographical,

mathematical, or other similar administrative errors that do not involve the appraiser's

professional judgment, including compliance with the elements of the client's statement of

work.

LSA-R.S. 37:3415.3 License required

C. (1) A person who performs an appraisal review for an appraisal management company shall be

licensed or certified in Louisiana.

(2) An administrative review may be performed by any individual, including a certified appraiser.

35

RETURN TO INDEX

Maine



# 35 State House Station

Augusta, ME 04333-0035

Website: http://www.maine.gov/pfr/professionallicensing/

Phone: 207-624-8520

Fax: 207-624-8637

32 M.R.S.A. § 14002 Definitions

1. Appraisal. “Appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser

related to the nature, quality, value or utility of specified interests in, or aspects of, identified real

property.

13. Real estate appraiser. “Real estate appraiser” means a person who engages in real estate appraisal

activity for a fee or other valuable consideration. “Real estate appraiser” includes review appraisers and

appraisal administrators.

32 M.R.S.A. § 14003 License required

Except as provided in section 14004, it is unlawful for a person to prepare, for a fee or other valuable

consideration, an appraisal or appraisal report relating to real estate or real property in this State

without first obtaining a real estate appraisal license. Only an individual may be licensed under this

chapter. This section does not apply to individuals who do not render significant professional assistance

in arriving at a real estate appraisal analysis, opinion or conclusion. Nothing in this chapter prohibits any

person who is licensed to practice in this State under any other law from engaging in the practice for

which that person is licensed.

32 M.R.S.A. § 14004 Exemption

Real estate appraisal activity does not include:

1. Salaried employees. Appraisals prepared by a salaried employee of a real estate owner who, in the

regular course of employment, makes appraisals of the real estate of the employer or of real estate

under consideration for purchase or exchange for the sole consideration of the employer

http://www.maine.gov/pfr/professionallicensing/

36

RETURN TO INDEX

Maryland


Commission Of Real Estate Appraisers & Home Inspectors

500 N. Calvert Street, Room 302

Baltimore, MD 21202-3651

Website: http://www.dllr.state.md.us/license/reahi/

Phone: 410-230-6165

Fax: 410-333-6314

MD Code, Business Occupations & Professions, § 16-101, Definitions

(a) In this title the following words have the meanings indicated.

(b)(1) “Appraisal” means an analysis, conclusion, or opinion about the nature, quality, utility, or value of

interests in or aspects of identified real estate.

(2) “Appraisal” includes:

(i) a valuation appraisal;

(ii) an analysis assignment; and

(iii) a review assignment.

Provide real estate appraisal services

(o) “Provide real estate appraisal services” means to make for consideration an appraisal of real estate

or prepare or sign an appraisal report in connection with a federally related transaction, as defined in

the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

§ 16-301. License required to provide real estate appraisal services

In general

(a) After June 30, 1991, and except as otherwise provided in this title, an individual shall be licensed by

the Commission to provide real estate appraisal services before the individual may provide real estate

appraisal services in the State.

http://www.dllr.state.md.us/license/reahi/

37

AMC Provisions

MD Code, Business Occupations & Professions, § 16-5B-01, Definitions

(c)(1) “Appraisal review” means the act of developing and communicating an opinion about the quality

of another appraiser's work that was performed as part of an appraiser assignment.

(2) “Appraisal review” does not include an examination of an appraisal for grammatical, typographical,

or other similar errors that do not make a substantive valuation change.

MD Code, Business Occupations & Professions, § 16-5B-08, Confirmation of competent appraisers

In general

Licensure or certification of appraiser required

(c) An employee of or independent contractor to the appraisal management company that performs an

appraisal review on a property located in the State shall be an appraiser licensed or certified in the

State.

38

RETURN TO INDEX

Massachusetts


Board of Registration of Real Estate Appraisers

1000 Washington Street, Suite 710

Boston, MA 02118-6100

Website: http://www.mass.gov/ocabr/licensee/dpl-boards/ra/

Phone: 617-727-3055

Fax: 617-727-0139

M.G.L.A. 112 § 173, Definitions applicable to Secs. 173 to 195

The following terms as used in sections one hundred and seventy-three to one hundred and ninety-five,

inclusive, shall have the following meanings:

“Appraisal assignment”, an engagement for which an appraiser is employed or retained to act, or would

be perceived by a third party or the public as acting, as a disinterested third party in rendering an

unbiased analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified

interests in, or aspects of, identified real estate.

“Appraisal” or “real estate appraisal”, a written analysis, opinion or conclusion prepared by a real estate

appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of, identified

real estate. An appraisal may be classified as a valuation or an analysis, or both. A valuation is an

estimate of the value of real estate or real property. An analysis is a study of real estate or real property

other than estimating value.

M.G.L.A. 112 § 174, Real estate appraiser titles; certification or licensing; opinions

A. No person, other than a state-certified general real estate appraiser, state-certified residential real

estate appraiser or state-licensed real estate appraiser, shall assume or use that respective title or any

title, designation, or abbreviation likely to create the impression of certification or licensing as a real

estate appraiser by the commonwealth. A person who is not state-certified or state-licensed shall not

describe or refer to any appraisal or other evaluation of real estate located in the commonwealth by the

term “certified”; provided, however, that this shall not preclude a person who is not certified as a state-

certified general real estate appraiser, state-certified residential real estate appraiser or state-licensed

real estate appraiser from appraising real estate in connection with non-federally related transactions

for compensation.

264 CMR 2.03, Definitions

http://www.mass.gov/ocabr/licensee/dpl-boards/ra/

39

The definitions of the following terms shall apply to 264 CMR 1.00 through 12.00. The definitions used

herein shall be construed consistent with the Uniform Standards of Professional Appraisal

Practice (USPAP), as adopted by 264 CMR 1.02: Definitions. Where inconsistencies are found, the USPAP

document and interpretations shall control.

Appraisal Assignment - an engagement for which an appraiser is employed or retained to act, or would

be perceived by a third party or the public as acting, as a disinterested third party in rendering an

unbiased analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified

interest in, or aspects of, identified real estate.

Appraisal or Appraisal of Real Estate - a written or oral analysis, opinion or conclusion prepared by a real

estate appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of,

identified real estate. The act or process of estimating value. An appraisal may be classified as a

valuation or analysis, or both.

Appraisal Report - a written or oral report of an appraisal.

Appraisal Review - the act or process of developing and communicating an opinion about the quality of

another appraiser's work that was performed as part of an appraisal assignment related to the

appraiser's data collection, analysis, opinions, conclusions, opinion of value, or compliance with

the Uniform Standards of Professional Appraisal Practice (USPAP). Appraisal Review does not include:

(a) a general examination for grammatical, typographical or similar errors; or

(b) a general examination for completeness including regulatory (other than USPAP) and/or

client requirements as specified in an agreement process that does not communicate an opinion

of value.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1012167&cite=264MADC1.02&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

40

RETURN TO INDEX

Michigan



P.O. Box 30018

Lansing, MI 48909

Website: http://www.michigan.gov/lara

Phone: 517-241-9288

Fax: 517-373-1044

M.C.L.A. 339.2601, Definitions

Sec. 2601. As used in this article:

(a) “Appraisal” means an opinion, conclusion, or analysis relating to the value of real property but does

not include any of the following:

(i) A market analysis performed by a person licensed under article 25 solely for the purpose of

assisting a customer or potential customer in determining the potential sale, purchase, or listing

price of real property or the rental rate of real property as long as a fee or any other valuable

consideration is not charged for that analysis.

(ii) A market analysis of real property for a fee performed by a broker or associate broker

licensed under article 25 which does not involve a federally related transaction if the market

analysis is put in writing and it states in boldface print “This is a market analysis, not an appraisal

and was prepared by a licensed real estate broker or associate broker, not a licensed

appraiser.”. Failure to do so results in the individual being subject to the penalties set forth in

article 6.2

(iii) An assessment of the value of real property performed on behalf of a local unit of

government authorized to impose property taxes when performed by an assessor certified

under section 10d of the general property tax act, 1893 PA 206, MCL 211.10d, or an individual

employed in an assessing capacity.

(c) “Appraiser” means an individual engaged in or offering to engage in the development and

communication of an appraisal.

339.2607. Representations; use of terms; powers

http://www.michigan.gov/lara

https://a.next.westlaw.com/Document/N74799380337011DBB472A7E79460E221/View/FullText.html?originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)#co_footnote_I9A2D15D1E0D711DE8104DF1739DD2B38

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000043&cite=MIST211.10D&originatingDoc=N74799380337011DBB472A7E79460E221&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

41

Sec. 2607. (1) A person shall not act as or offer to act as an appraiser unless licensed under this article or

exempt from licensure under this article.

(2) An individual shall not represent himself or herself to be a state licensed real estate appraiser, a

certified general real estate appraiser, a certified residential real estate appraiser, or a limited real

estate appraiser unless that individual is licensed under this article in the appropriate capacity.

AMC Provisions

M.C.L.A. 339.2671, Duties and prohibitions; penalties

Sec. 2671. (1) An appraisal management company shall ensure that any employee of the appraisal

management company, or any other individual working on behalf of the appraisal management

company, who is responsible for selecting independent appraisers for the performance of real estate

appraisal services for the appraisal management company or review completed appraisals for the

appraisal management company is appropriately trained.

(2) An appraisal management company shall ensure that any employee or independent contractor of

the company who is responsible for completing standard 3 appraisal reviews, or who performs a

standard 3 appraisal review, on its behalf has a valid license as a certified appraiser. As used in this

subsection:

(a) “Quality control examination” means an examination of an appraisal review report to

determine the report's completeness, including, but not limited to, examining the report for

grammatical, typographical, or other similar errors.

(b) “Standard 3 appraisal review” means an appraisal review that meets the requirements of

standard 3 of the uniform standards of professional appraisal practice for appraisal reviews. The

term does not include a quality control examination.

42

RETURN TO INDEX

Minnesota


Dept. of Commerce

85 - 7th Place East, Suite 500

St. Paul, MN 55101-3165

Website: http://mn.gov/commerce/

Phone: 651-539-1600

Fax: 651-284-4107

M.S.A. § 82B.021, Definitions

Subdivision 1. Scope. For the purposes of this chapter, the terms defined in this section have the

meanings given them.

Subd. 4. Appraisal assignment. “Appraisal assignment” means an engagement for which an appraiser is

employed or retained to act, or would be perceived by third parties or the public as acting, as a

disinterested third party in giving an unbiased analysis, opinion, or conclusion relating to the nature,

quality, value, or utility of named interests in, or aspects of, identified real estate.

Subd. 6. Appraisal or real estate appraisal. “Appraisal” or “real estate appraisal” means an analysis,

opinion, or conclusion relating to the nature, quality, value, or utility of named interests in, or aspects

of, identified real estate for purposes of preparing an appraisal report. An appraisal may be classified by

subject matter into either a valuation or an analysis.

Subd. 7. Appraisal report. “Appraisal report” means an oral or written communication of an appraisal for

compensation that is not a contingent fee as defined in section 82B.22 given or signed by a licensed real

estate appraiser.

M.S.A. § 82B.03, Prohibitions

Subdivision 1. License required. (a) It is unlawful for a person to act as a real estate appraiser in this

state unless licensed under this chapter.

(b) Only persons licensed under this chapter may advertise or represent themselves to be real estate

appraisers.

(c) No person, other than a licensed real estate appraiser, may assume or use that title or a title,

designation, or abbreviation likely to create the impression of licensure as a real estate appraiser by this

state.

http://mn.gov/commerce/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000044&cite=MNSTS82B.22&originatingDoc=N703C9950CFFD11E0915493F3A19B69D7&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

43

Subd. 2. License not required. (a) An officer or employee of a corporation, partnership, or other business

entity may act as a real estate appraiser without obtaining a license under this chapter if the

corporation, partnership, or other business entity in which the person is employed or is an officer has an

interest in the real estate that is the subject of the appraisal as owners, lenders, investors, or insurers.

(b) Notwithstanding licensure under this chapter, any appraisal conducted by a person exempt under

this subdivision is only subject to the guidelines for real estate appraisal policies and review procedures

of the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the Federal Reserve

Board, the Farm Credit Administration, the National Credit Union Administration, or the comptroller of

the currency, if the appraisal was conducted only within the scope and purpose of this subdivision.

(c) If a real estate appraisal is made by a person who is exempt from licensing under this subdivision, the

person for whom the appraisal is conducted must be given written notice that the appraisal was not

conducted by a licensed appraiser, and the appraisal report must clearly state that it was conducted by

an interested party and not by a licensed real estate appraiser.

AMC Provisions

M.S.A. § 82C.02 - Definitions

Subdivision 1. Terms. As used in this chapter, the terms in this section have the meanings given them.

Subd. 2. Appraisal. In conformance with the Uniform Standards of Professional Appraisal Practice

(USPAP), “appraisal” is defined as: (noun) the act or process of developing an opinion of value; an

opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal

practice or appraisal services. For purposes of this chapter, all appraisals or assignments that are

referred to involve one to four unit single-family properties.

Subd. 3. Appraisal assignment. “Appraisal assignment” means an engagement for which an appraiser is

employed or retained to act, as a disinterested third party in giving an unbiased analysis, opinion, or

conclusion relating to the nature, quality, value, or utility of named interests in, or aspects of, identified

real estate.

Subd. 4. Appraisal management company. “Appraisal management company” means a corporation,

partnership, sole proprietorship, subsidiary, unit, or other business entity that directly or indirectly

performs the following appraisal management services:

(1) administers networks of independent contractors and/or employee appraisers to perform

residential real estate appraisal assignments for clients;

44

(2) receives requests for residential real estate appraisal services from clients and, for a fee paid

by the client, enters into an agreement with one or more independent appraisers to perform

the real estate appraisal services contained in the request; or

(3) serves as a third-party broker of appraisal management services between clients and

appraisers.

Subd. 6. Appraiser. “Appraiser” means a person who is expected to perform valuation services

competently and in a manner that is independent, impartial, and objective, and who is licensed under

chapter 82B.

Subd. 8. Appraisal review. “Appraisal review” means the act of developing and communicating an

opinion about the quality of another appraiser's work that was performed as part of an appraisal

assignment, except that an examination of an appraisal for grammatical, typographical, or other similar

errors that do not make a substantive valuation change shall not be an appraisal review.

M.S.A. § 82C.10, Employee requirements

An employee of the appraisal management company that has the responsibility to review the work of

employed and independent appraisers where the subject properties are located within this state, which

include the reviewer's opinion of value or concurrence with the original appraiser's value, must be

licensed according to chapter 82B and perform the review assignments in compliance with USPAP and

chapter 82B. This requirement does not apply to employees who review appraisals for completeness

and compliance in connection with an appraisal management company's internal quality control

processes, but who do not perform appraisal reviews that are subject to Standard 3 of USPAP.

45

RETURN TO INDEX

Mississippi


Real Estate Appraiser Licensing & Certification Board

2506 Lakeland Drive, Suite 300

Flowood, MS 39232

Website: http://www.mrec.state.ms.us/mab/index_mab.html

Phone: 601-932-6770

Fax: 601-932-3880


As used in this chapter, the following terms and phrases shall have the following meanings unless the

context clearly indicates otherwise:

(a) “Appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser relating to

the nature, quality, value or utility of specified interests in, or aspects of, identified real estate or

identified real property performed in accordance with the Uniform Standards for Professional Appraisal

Practice. An appraisal may be classified by the nature of the assignment into either a valuation

assignment or an evaluation assignment. The term “valuation assignment” means an analysis, opinion or

conclusion prepared by a real estate appraiser that estimates the value of an identified parcel of real

estate or identified real property at a particular point in time. The term “evaluation assignment” means

an analysis, opinion or conclusion prepared by a real estate appraiser that relates to the nature, quality

or utility of identified real estate or identified real property.

§ 73-34-5. Licensing requirements

(1) Except as otherwise provided for in this section, it shall be unlawful for anyone to engage in real

estate appraisal activity in this state without first obtaining one (1) of the four (4) real estate appraiser

licenses as provided in this chapter.

(b) The provisions of this chapter shall not apply to any director, officer or salaried employee of

commercial banks, savings banks, credit unions, and savings and loan associations, when

engaged in appraisal or evaluation activities for and on behalf of such financial institution unless

there is a fee charged for the appraisal or evaluation; provided that a federal statute, rule or

regulation does not require such appraisal or evaluation activities to be performed by a state

licensed appraiser.

http://www.mrec.state.ms.us/mab/index_mab.html

46

AMC Related Provisions

(n) “Appraisal review” means the act or process of developing and communicating an opinion about the

quality of another appraiser's work that was performed as part of an appraisal assignment, except that a

quality control examination of an appraisal shall not be an appraisal review.

Any employee of, or independent contractor to, the appraisal management company that performs a

USPAP Standard 3 appraisal review of an appraisal report on property located in this state shall be an

appraiser with the proper level of licensure in Mississippi. Quality control examinations are exempt from

this requirement, as they are not considered a Standard 3 review.

47

RETURN TO INDEX

Missouri


Real Estate Appraisers Commission

P.O. Box 1335

Jefferson City, MO 65102-1335

Website: http://pr.mo.gov/appraisers.asp

Phone: 573-751-0038

Fax: 573-526-3489


As used in sections 339.500 to 339.549, the following words and phrases mean, unless the context

clearly indicates otherwise:

(1) “Appraisal” or “real estate appraisal”, an objective analysis, evaluation, opinion, or conclusion

relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real

estate. An appraisal may be classified by subject matter into either a valuation or an analysis;

(25) “Real estate appraiser” or “appraiser”, a person who for a fee or valuable consideration develops

and communicates real estate appraisals or otherwise gives an opinion of the value of real estate or any

interest therein;

(26) “Real estate appraising”, the practice of developing and communicating real estate appraisals;

339.501. Licensure or certification of real estate appraisers required, exceptions

1. Beginning July 1, 1999, it shall be unlawful for any person in this state to act as a real estate appraiser,

or to directly or indirectly, engage or assume to engage in the business of real estate appraisal or to

advertise or hold himself or herself out as engaging in or conducting such business without first

obtaining a license or certificate issued by the Missouri real estate appraisers commission as provided

in sections 339.500 to 339.549.

5. The provisions of sections 339.500 to 339.549 shall not be construed to require a license or certificate

for:

(4) Any employee of a federal or state-regulated lending agency or institution;

(5) Any agent of a federal or state-regulated lending agency or institution in a county of third or fourth

classification.

http://pr.mo.gov/appraisers.asp

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000229&cite=MOST339.500&originatingDoc=NE0B482D0D6D511E18DACD7A1C03FBF4E&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000229&cite=MOST339.549&originatingDoc=NE0B482D0D6D511E18DACD7A1C03FBF4E&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000229&cite=MOST339.500&originatingDoc=NEA15F070D6D511E18DACD7A1C03FBF4E&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)




48

RETURN TO INDEX

Montana



301 South Park Avenue, 4th Floor

Helena, MT 59620-0513

Website: http://bsd.dli.mt.gov/license/bsd_boards/rea_board/board_page.asp

Phone: 406-841-2381

Fax: 406-841-2323

37-54-102. Definitions

Terms commonly used in appraisal practice and as used in this chapter must be defined according to the

Uniform Standards of Professional Appraisal Practice, as issued by the appraisal foundation. As used in

this chapter, unless the context requires otherwise, the following definitions apply:

(1) “Appraisal” means the practice of developing an opinion of the value of real property in conformance

with the Uniform Standards of Professional Appraisal Practice as developed by the appraisal foundation.

(3) “Appraisal management company” means, in connection with valuation of properties collateralizing

mortgage loans or mortgages incorporated into a securitization, an external third party, authorized

either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an

underwriter of or other principal in the secondary mortgage markets, that oversees a network or panel

of more than 15 certified or licensed appraisers in this state or 25 or more nationally within a given year.

(5) “Appraisal review” means the act or process of developing and communicating an opinion about the

quality of another appraiser's work that was performed as part of an appraisal assignment. The term

does not include a quality control examination.

(6) “Appraiser” means an individual who holds a license or certification to complete an appraisal

assignment in the state where the real property that is the subject of the appraisal assignment is

located.

37-54-506. Appraisal review

An employee or independent contractor of the appraisal management company that performs an

appraisal review for a property located in this state:

(1) must be an appraiser licensed or certified in this state; and

http://bsd.dli.mt.gov/license/bsd_boards/rea_board/board_page.asp

49

(2) shall comply with the review provisions of the Uniform Standards of Professional Appraisal

Practice.

50

RETURN TO INDEX

Nebraska



P.O. Box 94963

Lincoln, NE 68509-4963

Website: http://www.appraiser.ne.gov/

Phone: 402-471-9015

Fax: 402-471-9017

76-2204. Appraisal, defined

Appraisal means an analysis, opinion, or conclusion prepared by a real property appraiser relating to the

value of specified interests in or aspects of identified real estate or identified real property. An appraisal

may be classified by the nature of the assignment into either a valuation assignment or an evaluation

assignment.

76-2205.01. Appraisal practice, defined

Appraisal practice means valuation services performed by an individual acting as an appraiser, including,

but not limited to, appraisal, appraisal review, or appraisal consulting.

76-2206. Appraisal report, defined

Appraisal report means any communication, written, oral, or by electronic means, of an appraisal. The

testimony of a real property appraiser dealing with the appraiser's analyses, conclusions, or opinions

concerning identified real estate or identified real property is deemed to be an oral appraisal report.

76-2215. Real property appraisal activity, defined

Real property appraisal activity means any act or process, performed for a fee or other valuable

consideration, involved in developing an appraisal or preparing an appraisal report, including but not

limited to, a consulting service, an evaluation assignment, or a valuation assignment.

76-2216. Real property appraiser, defined

Real property appraiser means a person (1) who engages in real property appraisal activity, (2) who

advertises or holds himself or herself out to the general public as a real property appraiser, or (3) who

offers, attempts, or agrees to perform or performs real property appraisal activity. Real property

appraiser includes persons defined as real estate appraisers prior to July 14, 2006.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NebraskaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.appraiser.ne.gov/

51

76-2220. Proper credentialing required

Except as provided in section 76-2221, it shall be unlawful for anyone to act as a real property appraiser

in this state without first obtaining proper credentialing as required under the Real Property Appraiser

Act.

76-2221. Act; exemptions

The Real Property Appraiser Act shall not apply to:

(1) Any real property appraiser who is a salaried employee of (a) the federal government, (b) any agency

of the state government or a political subdivision which appraises real estate, (c) any insurance company

authorized to do business in this state, or (d) any bank, savings bank, savings and loan association,

building and loan association, credit union, or small loan company licensed by the state or supervised or

regulated by or through federal enactments covering financial institutions, except that any employee of

the entities listed in subdivisions (a) through (d) of this subdivision who signs an appraisal report as a

credentialed real property appraiser shall be subject to the act and the Uniform Standards of

Professional Appraisal Practice. Any salaried employee of the entities listed in subdivisions (a) through

(d) of this subdivision who does not sign an appraisal report as a credentialed real property appraiser

shall include the following disclosure prominently with such report: This opinion of value may not meet

the minimum standards contained in the Uniform Standards of Professional Appraisal Practice and is not

governed by the Real Property Appraiser Act;


76-3210. Performance of Uniform Standards of Professional Appraisal Practice standard 3 appraisal

review

Any employee of or independent contractor to an appraisal management company that performs a

Uniform Standards of Professional Appraisal Practice standard 3 appraisal review shall be an appraiser

with the proper level of licensure in this state. Quality control examinations are exempt from this

requirement as they are not considered a standard 3 review.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000257&cite=NESTS76-2221&originatingDoc=N4ADF4080AECC11DEA0C8A10D09B7A847&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

52

RETURN TO INDEX

Nevada


Nevada Real Estate Division

1179 Fairview Drive, Suite E

Carson City, NV 89701

Website: http://red.state.nv.us/appraisal/appraisal.htm

Phone: 775 687 4280

Fax: 775-687-4868

645C.030. “Appraisal” defined

“Appraisal” means an analysis, opinion or conclusion, whether written or oral, relating to the nature,

quality, value or use of a specified interest in, or aspect of, identified real estate for or with the

expectation of receiving compensation.

645C.040. “Appraiser” defined

“Appraiser” means a person who prepares or communicates an appraisal, but does not include anyone

who merely relays an appraisal on behalf of the person who prepares it.

645C.260. Certificate, license, permit or registration card required; penalty; prosecution of violation

1. Any person who, in this State, engages in the business of, acts in the capacity of, advertises or

assumes to act as:

(a) An appraiser without first obtaining the appropriate certificate, license or permit pursuant to

this chapter; or

(b) An intern without first obtaining a registration card pursuant to this chapter,

is guilty of a misdemeanor.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NevadaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://red.state.nv.us/appraisal/appraisal.htm

53

RETURN TO INDEX

New Hampshire


Joint Board of Licensure and Certification

121 South Fruit Street

Concord, NH 03301

Website: http://www.nh.gov/nhreab/

Phone: 603-271-2219

Fax: 603-271-6990

310-B:2 Definitions.

In this chapter:

I. “Analysis” means a study of real estate or real property other than estimating value.

II. “Appraisal report” or “real estate appraisal report” means a written statement prepared by a licensed

or certified appraiser, whether or not used in connection with a federally-related transaction under the

Financial Institutions Reform, Recovery, and Enforcement Act of 1989, setting forth an opinion of

defined value of an adequately described property as of a specific date, supported by the presentation

and analysis of relevant market information. Nothing in this paragraph shall be interpreted to affect the

right of any person to provide services under RSA 310-B:3, II, III, or IV.

III. “Appraisal assignment” means an engagement for which an appraiser is employed or retained to act,


an unbiased analysis, opinion, or conclusion relating to the nature, quality, value, or utility or specified

interests in, or aspects of, identified real estate.

XVI. “Appraisal” means the practice of developing an opinion of the value of real property in

conformance with the Uniform Standards for Professional Appraisal Practice as developed by the

Appraisal Foundation.

XVIII. “Appraisal review” means the act or process of developing and communicating an opinion about

the quality of another appraiser's work that was performed as part of an appraisal assignment, except

that a quality control examination of an appraisal report shall not be an appraisal review.

XIX. “Appraiser” means an individual who holds a license or certification as an appraiser and is expected

to perform valuation services competently and in a manner that is independent, impartial, and

objective.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NewHampshireStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.nh.gov/nhreab/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000864&cite=NHSTS310-B%3a3&originatingDoc=N7BB36820EADE11E19F9AA059F5809218&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

54

310-B:3-a Penalty for Unlicensed Practice.

Any person who shall practice or attempt to practice as a licensed or certified real estate appraiser in

this state without a license shall be guilty of a class A misdemeanor if a natural person, or guilty of a

felony if any other person.


310-B:12-i Appraisal Management Company; Appraisal Review.

Any employee of, or independent contractor to, an appraisal management company that performs a

USPAP Standard 3 review of an appraisal report on property located in this state shall be an appraiser

with the proper level of licensure issued by the board. Quality control examinations are exempt from

this requirement as they are not considered a Standard 3 review.

55

RETURN TO INDEX

New Jersey



P.O. Box 45032

Newark, NJ 07102

Website: http://www.state.nj.us/lps/ca/nonmedical/reappraisers.htm

Phone: 973-504-6480

Fax: 973-504-6858

45:14F-2. Definitions

As used in this act:

“Appraisal” or “real estate appraisal” means an unbiased analysis, opinion or conclusion relating to the

nature, quality, value or utility of specified interests in, or aspects of, real estate. An appraisal may be

classified by subject matter into either a valuation or an analysis. A “valuation” means an estimate of the

value of real estate or real property and an “analysis” means a study of real estate or real property other

than a valuation.

“Appraisal assignment” means an engagement for which an appraiser is employed or retained to act, or

would be perceived by third parties or the public as acting, as a disinterested third party in rendering an

unbiased appraisal.

45:14F-21. Use of terms “certified appraisal” and “licensed appraisal”

a. A person who is not certified pursuant to the provisions of this act shall not describe or refer to any

appraisal or other evaluation which he performs on real estate located in this State as “a certified

appraisal.”

b. A person who is not licensed pursuant to the provisions of this act shall not describe or refer to any

appraisal or other evaluation which he performs on real estate located in this State as “a licensed

appraisal.”

c. Except as otherwise provided in subsection f. of this section, no person other than a State licensed

real estate appraiser, a State certified real estate appraiser or a person who assists in the preparation of

an appraisal under the direct supervision of a State licensed or certified appraiser shall perform or offer

to perform an appraisal assignment in regard to real estate located in this State including, but not

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NewJerseyStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.state.nj.us/lps/ca/nonmedical/reappraisers.htm

56

limited to, any transaction involving a third party, person, government or quasi-governmental body,

court, quasi-judicial body or financial institution.

Nothing in P.L.1991, c. 68 (C.45:14F-1 et seq.) shall be construed to preclude a person not licensed or

certified pursuant to this act from giving or offering to give, for a fee or otherwise, counsel and advice

on pricing, listing, selling and use of real property, directly to a property owner or prospective purchaser

if the intended use of the counsel or advice is solely for the individual knowledge of or use by the

property owner or prospective purchaser.

d. Nothing in this act shall be construed to preclude a person not certified or licensed pursuant to this

act from assisting in the preparation of an appraisal to the extent permitted under subsection (d) of

section 1122 of Title XI of Pub. L.101-73 (12 U.S.C. s. 3351(d)).

e. (Deleted by L.1997, c. 401, § 2, eff. July 18, 1998).

f. A State or federally chartered bank, savings bank or savings and loan association may obtain and use

appraisals made by a person who is not certified or licensed pursuant to the provisions of P.L.1991, c.

68 (C.45:14F-1 et seq.) in any circumstance where the underlying transaction is a federally related

transaction for which federal law and regulation do not require that a certified or licensed appraiser be

used. For the purposes of this subsection, “federal law” means Title XI of Pub. L.101-73 (12 U.S.C. s.

3331 et seq.); and “federally related transaction” has the meaning as set forth in section 1121 of Title XI

of Pub. L.101-73 (12 U.S.C. s. 3350).

https://a.next.westlaw.com/Link/Document/FullText?findType=l&pubNum=1077005&cite=UUID(ID602D1C0BA-D34914A7EA1-EB9B0C90154)&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000045&cite=NJST45%3a14F-1&originatingDoc=N758816E0EF7711D99BC0AF502031754B&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=l&pubNum=1077005&cite=UUID(IEEEABC10C8-2B445C9FFC6-B3E15879B33)&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3351&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_5ba1000067d06

https://a.next.westlaw.com/Link/Document/FullText?findType=l&pubNum=1077005&cite=UUID(I2B2FA150AF-E44CFAA23A1-4F430B9993A)&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)



https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000045&cite=NJST45%3a14F-1&originatingDoc=N758816E0EF7711D99BC0AF502031754B&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)


https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3331&originatingDoc=N758816E0EF7711D99BC0AF502031754B&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)




57

RETURN TO INDEX

New Mexico



2550 Cerrillos Road

Santa Fe, NM 87505

Website: http://www.rld.state.nm.us/boards/Real_Estate_Appraisers.aspx

Phone: 505-476-4860

Fax: 505-476-4665


As used in the Real Estate Appraisers Act:

A. “appraisal” or “real estate appraisal” means an analysis, opinion or conclusion prepared by a real

estate appraiser relating to the nature, quality, value or utility of specified interests in or aspects of

identified real estate or real property, for or in expectation of compensation, and shall include the

following:

(1) a valuation, analysis, opinion or conclusion prepared by a real estate appraiser that estimates

the value of identified real estate or real property; and

(2) an analysis or study of real estate or real property other than estimating value;

B. “appraisal assignment” means an engagement for which an appraiser is employed or retained to act

or would be perceived by third parties or the public as acting as a disinterested third party in rendering

an unbiased appraisal;

D. “appraisal report” means any communication, written or oral, of an appraisal regardless of title or

designation and all other reports communicating an appraisal;

F. “certified appraisal” or “certified appraisal report” means an appraisal or appraisal report given or

signed and certified as such by a state certified real estate appraiser and shall include an indication of

which type of certification is held and shall be deemed to represent to the public that it meets the

appraisal standards defined in the Real Estate Appraisers Act;

J. “real estate appraiser” means any person who engages in real estate appraisal activity in expectation

of compensation;

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NewMexicoStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.rld.state.nm.us/boards/Real_Estate_Appraisers.aspx

58

M. “specialized services” means those services that do not fall within the definition of an appraisal

assignment and may include specialized financing or market analyses and feasibility studies that may

incorporate estimates of value or analyses, opinions or conclusions given in connection with activities

such as real estate brokerage, mortgage banking, real estate counseling and real estate tax counseling,

provided that the person rendering such services would not be perceived by third parties or the public

as acting as a disinterested third party in rendering an unbiased appraisal or real estate appraisal,

regardless of the intention of the client and that person;

§ 61-30-10. Registration, license or certification required; exceptions

A. It is unlawful for any person in this state to engage or attempt to engage in the business of developing

or communicating real estate appraisals or appraisal reports without first registering as an apprentice or

obtaining a license or certificate from the board under the provisions of the Real Estate Appraisers Act.

B. No person, unless certified by the board as a state certified real estate appraiser under a general

certification or residential certification, shall:

(1) assume or use any title, designation or abbreviation likely to create the impression of a state

certified real estate appraiser;

(2) use the term “state certified” to describe or refer to any appraisal or evaluation of real estate

prepared by the person;

(3) assume or use any title, designation or abbreviation likely to create the impression of

certification as a state certified real estate appraiser firm, partnership, corporation or group; or

(4) assume or use any title, designation or abbreviation likely to create the impression of

certification under a general certificate or describe or refer to any appraisal or evaluation of

nonresidential real estate by the term “state certified” if the preparer's certification is limited to

residential real estate.

…

I. The process of analyzing, without altering, an appraisal report that is part of a request for mortgage

credit is considered a specialized service as defined in Subsection M of Section 61-30-3 NMSA 1978 and

is exempt from the requirements of registration, licensing or certification.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000036&cite=NMSTS61-30-3&originatingDoc=NBC0198A0D3EC11E2814A9B24D7557A56&refType=SP&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)#co_pp_1b43000094251

59

RETURN TO INDEX

New York


Division of Licensing Services

PO Box 22001

Albany, NY 12201-2001

Website: http://www.dos.state.ny.us/lcns/realestate/

Phone: 518-474-4429

Fax: 518-473-6648

§ 160-a. Definitions

As used in this article the following terms shall mean:

1. “Analysis” is a study of real estate or real property other than estimating value.

2. “Appraisal” or “real estate appraisal” means an analysis, opinion or conclusion relating to the nature,

quality, value or utility of specified interests in, or aspects of, identified real estate. An appraisal may be

classified by subject matter into either a valuation or an analysis.

3. “Appraisal report” means any written communication of an appraisal.

5. (a) “Certified appraisal” or “certified appraisal report” means an appraisal or appraisal report given or

signed and certified as such by a certified real estate appraiser. When identifying an appraisal or

appraisal report as “certified”, the state certified real estate appraiser must indicate which type of

certification is held. A certified appraisal or appraisal report represents to the public that it meets the

appraisal standards defined in this article.

(b) “Licensed appraisal” or “licensed appraisal report” means an appraisal or appraisal report given or

signed and authenticated as such by a licensed real estate appraiser. A licensing appraisal or appraisal

report represents to the public that it meets the appraisal standards as prescribed by the board.

6. (a) “State certified real estate appraiser” means a person who develops and communicates real estate

appraisal and who holds a current, valid certificate issued to him or her for either general or residential

real estate under the provisions of this article.

(b) “State licensed real estate appraiser” means a person who develops and communicates real property

appraisals and who holds a current valid license issued to him or her for residential real property under

the provisions of this article.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NewYorkStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.dos.state.ny.us/lcns/realestate/

60

(c) “State licensed real estate appraiser assistant” means a person who assists and is supervised by a

state certified real estate appraiser and who holds a current valid license issued to him or her under the

provisions of this article.

8. “Real estate” means an identified parcel or tract of land, including improvements, if any.

9. “Real property” means one or more defined interests, benefits and rights inherent in the ownership

of real estate.

10. “Valuation” is an estimate of the value of real estate or real property.

§ 160-b. Use of the title “state certified real estate appraiser” or “state licensed real estate appraiser”

or “state licensed real estate appraiser assistant”

1. Only a person certified under this article shall use the title “state certified real estate appraiser” or

licensed under this article shall use the title “state licensed real estate appraiser” or “state licensed real

estate appraiser assistant” or assume that title or any title, designation or abbreviation likely to create

the impression of certification or license by this state as a real estate appraiser or real estate appraiser

assistant. After December thirty-first, nineteen hundred ninety-one, only a person who is certified or

licensed pursuant to this article shall describe or refer to any appraisal or other evaluation of real estate

located in this state by the term “certified” or “licensed”.

2. Nothing in this article shall preclude a person who is not a state certified or licensed real estate

appraiser or a licensed real estate appraiser assistant from appraising real estate for compensation.

61

RETURN TO INDEX

North Carolina


North Carolina Appraisal Board

5830 Six Forks Road

Raleigh, NC 27609

Website: http://www.ncappraisalboard.org/

Phone: 919-870-4854

Fax: 919-870-4859

§ 93E-1-2.1. Registration, license, or certificate required of real estate appraisers

It is unlawful for any person in this State to act as a real estate appraiser, to directly or indirectly engage

or assume to engage in the business of real estate appraisal, or to advertise or hold himself or herself

out as engaging in or conducting the business of real estate appraisal without first obtaining a

registration, license, or certificate issued by the Appraisal Board under the provisions of this Chapter. It

is also unlawful, with regard to any real property where any portion of that property is located within

this State, for any person to perform any of the acts listed above without first being registered, licensed,

or certified by the Appraisal Board under the provisions of this Chapter.

§ 93E-1-3. When registration, license, or certificate not required

(f) A trainee registration, license, or certificate is not required under this Chapter for:

(1) Any person, partnership, association, or corporation that performs appraisals of property

owned by that person, partnership, association, or corporation for the sole use of that person,

partnership, association, or corporation;

(2) Any court-appointed commissioner who conducts an appraisal pursuant to a judicially ordered

evaluation of property;

(3) Any person to qualify as an expert witness for court or administrative agency testimony, if

otherwise qualified;

(4) A person who appraises standing timber so long as the appraisal does not include a

determination of value of any land;

(5) Any person employed by a lender in the performance of appraisals with respect to which

federal regulations do not require a licensed or certified appraiser; and

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NorthCarolinaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.ncappraisalboard.org/

62

(6) A person who performs ad valorem tax appraisals and is certified by the Department of

Revenue under G.S. 105-294 orG.S. 105-296; however, any person who is registered, licensed, or

certified under this Chapter and who performs any of the activities set forth in subdivisions (1)

through (5) of this subsection must comply with all of the provisions of this Chapter. The

provisions of this Chapter shall not apply to certified real estate appraisers who perform a

broker price opinion or comparative market analysis pursuant to G.S. 93E-1-3(c), as long as the

appraiser is licensed as a real estate broker by the North Carolina Real Estate Commission and

does not refer to himself or herself as an appraiser in the broker price opinion or comparative

market analysis.

§ 93E-2-2. Definitions

(3) Appraisal review.--The act or process of developing and communicating an opinion about the quality

of another appraiser's work that was performed as part of an appraisal assignment, except that an

examination of an appraisal for grammatical, typographical, or other similar errors shall not be an

appraisal review.


21 NCAC 57D.0306

An appraisal management company shall review the work of all independent appraisers that are

performing real estate appraisal services for the appraisal management company to validate that the

real estate appraisal services are being conducted in accordance with USPAP. An appraisal management

company is not required to review all appraisals performed by each appraiser, but may chose a

representative sample of each appraiser's reports. An appraisal management company

must review each appraiser's work at least once a year, and shall keep records of such reviews for a

period of five years from the date they are done.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000037&cite=NCSTS105-294&originatingDoc=N452FB480408111E3BF09C45AE7B0757F&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000037&cite=NCSTS105-296&originatingDoc=N452FB480408111E3BF09C45AE7B0757F&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

63

RETURN TO INDEX

North Dakota


Real Estate Appraiser Qualifications & Ethics Board

P.O. Box 1336

Bismarck, ND 58502-1336

Website: http://www.ndreab.org

Phone: 701-222-1051

Fax: 701-222-1051

§ 43-23.3-01. Definitions


1. “Analysis” means a study of real estate other than estimating value.

2. “Appraisal” means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of

specified interests in, or aspects of, real estate. An appraisal may be classified by subject matter into

either a valuation or an analysis.

3. “Appraisal assignment” means an engagement for which a person is employed or retained to act, or

would be perceived by the public as acting, as a disinterested party in rendering an unbiased

supportable appraisal.

7. “Appraiser” means a person who engages in appraisal activity for valuable consideration.

10. “Certified appraiser” means a person who holds a valid permit as a certified residential or general

appraiser.

11. “Certified general appraiser” means a person who holds a valid permit as a certified general

appraiser.

12. “Certified residential appraiser” means a person who holds a valid permit as a certified

residential appraiser.

13. “Licensed appraiser” means a person who holds a valid permit as a licensed appraiser.

15. “Real estate” means an identified parcel or tract of land including improvements, and interests,

benefits, and rights inherent in the ownership of real estate.

17. “Valuation” means an estimate of the value of real estate or real property.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/NorthDakotaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.ndreab.org/

64

§ 43-23.3-04. Permit required--Exemptions

Except as provided in this section, a person may not directly or indirectly engage in, advertise, conduct

the business of, or act in any capacity as an apprentice, licensed, or certified appraiser without first

obtaining a permit as provided in this chapter. An appraiser, apprenticed, licensed, or certified in

another state may not engage in, advertise, conduct the business of, or act in any capacity as an

appraiser in this state without first obtaining a temporary permit under section 43-23.3-11. This chapter

does not apply to a licensed real estate broker or salesperson who, in the ordinary course of business,

gives an opinion to a potential seller or third party as to the recommended listing price of real estate or

an opinion to a potential purchaser or third party as to the recommended purchase price of real estate.

However, the opinion as to the listing price or the purchase price may not be referred to as an appraisal.

This chapter does not apply to a person who, in the ordinary course of business, gives an opinion of the

value of real estate to that person's employer.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1002016&cite=NDST43-23.3-11&originatingDoc=N10C9E7B052A211DD9BC4CC4EC7A9E1EC&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

65

RETURN TO INDEX

Ohio


Division of Real Estate & Professional Licensing

77 S. High Street, 20th Floor

Columbus, OH 43215-6133

Website: http://www.com.ohio.gov/real/

Phone: 614-466-4100

Fax: 614-644-0584

4763.01 Definitions


(A) “Real estate appraisal” or “appraisal” means an analysis, opinion, or conclusion relating to the

nature, quality, value, or utility of specified interests in, or aspects of identified real estate that is

classified as either a valuation or an analysis.

(B) “Valuation” means an estimate of the value of real estate.

(C) “Analysis” means a study of real estate for purposes other than valuation.

(D) “Appraisal report” means a written communication of a real estate appraisal, appraisal review, or

appraisal consulting service or an oral communication of a real estate appraisal, appraisal review, or

appraisal consulting service that is documented by a writing that supports the oral communication.

(E) “Appraisal assignment” means an engagement for which a person licensed or certified under this

chapter is employed, retained, or engaged to act, or would be perceived by third parties or the public as

acting, as a disinterested third party in rendering an unbiased real estate appraisal.

(F) “Specialized services” means all appraisal services, other than appraisal assignments, including, but

not limited to, valuation and analysis given in connection with activities such as real estate brokerage,

mortgage banking, real estate counseling, and real estate tax counseling, and specialized marketing,

financing, and feasibility studies.

(G) “Real estate” has the same meaning as in section 4735.01 of the Revised Code.

(I) “Prepare” means to develop and communicate, whether through a personal physical inspection or

through the act or process of critically studying a report prepared by another who made the physical

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/OhioStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.com.ohio.gov/real/

66

inspection, an appraisal, analysis, or opinion, or specialized service and to report the results. If the

person who develops and communicates the appraisal or specialized service does not make the personal

inspection, the name of the person who does make the personal inspection shall be identified on the

appraisal or specialized service reported.

(J) “Report” means any communication, written, oral, or by any other means of transmission of

information, of a real estate appraisal, appraisal review, appraisal consulting service, or specialized

service that is transmitted to a client or employer upon completion of the appraisal or service.

(K) “State-certified general real estate appraiser” means any person who satisfies the certification

requirements of this chapter relating to the appraisal of all types of real property and who holds a

current and valid certificate or renewal certificate issued to the person pursuant to this chapter.

(L) “State-certified residential real estate appraiser” means any person who satisfies the certification

requirements only relating to the appraisal of one to four units of single-family residential real estate

without regard to transaction value or complexity and who holds a current and valid certificate or

renewal certificate issued to the person pursuant to this chapter.

(M) “State-licensed residential real estate appraiser” means any person who satisfies the licensure

requirements of this chapter relating to the appraisal of noncomplex one-to-four unit single-family

residential real estate having a transaction value of less than one million dollars and complex one-to-

four unit single-family residential real estate having a transaction value of less than two hundred fifty

thousand dollars and who holds a current and valid license or renewal license issued to the person

pursuant to this chapter.

(N) “Certified or licensed real estate appraisal” means an appraisal prepared and reported by a

certificate holder or licensee under this chapter acting within the scope of certification or licensure and

as a disinterested third party.

(S) “Appraisal review” means the act or process of developing and communicating an opinion about the

quality of another appraiser's work that was performed as part of an appraisal, appraisal review, or

appraisal consulting assignment.

(T) “Appraisal consulting” means the act or process of developing an analysis, recommendation, or

opinion to solve a problem related to real estate.

4763.19 Appraisal for mortgage loan by unlicensed person prohibited.

(A) Subject to division (B) of this section, no person shall perform a real estate appraisal for a mortgage

loan if the person is not licensed or certified under this chapter to do the appraisal.

(B) Division (A) of this section does not apply to a lender using a market analysis or price opinion, an

internal valuation analysis, or an automated valuation model or report based on an automated valuation

67

model, and any person providing that report to the lender, in performing a valuation for purposes of a

loan application, as long as the lender does both of the following:

(1) Gives the consumer loan applicant a copy of any written market analysis or price opinion or valuation

report based on an automated valuation model;

(2) Includes a disclaimer on the consumer’s copy specifying that the valuation used for purposes of the

application was obtained from a market analysis or price opinion or automated valuation model report

and not from a person licensed or certified under this chapter.”

68

RETURN TO INDEX

Oklahoma



3625 NW 56th Street, Suite 100

Oklahoma City, OK 73112

Website: http://www.reab.oid.ok.gov/

Phone: 405-521-6636

Fax: 405-522-6909


As used in the Oklahoma Certified Real Estate Appraisers Act:

1. “Appraisal” or “real estate appraisal” means an analysis, opinion or conclusion relating to the nature,

quality, value or utility of specified interests in, or aspects of, identified real estate other than oil, gas,

coal, water, and all other energy and nonfuel mineral and elements or the value of underground space

to be used for storage of commodities or for the disposal of waste unless they are appraised as part of a

federally related transaction covered by the Financial Institutions Reform, Recovery, and Enforcement

Act of 1989.1 An appraisal may be classified by subject matter into either a valuation or an analysis. A

“valuation” is an estimate of the value of real estate or real property. An “analysis” is a study of real

estate or real property other than estimating value;

13. “Appraisal assignment” means an engagement for which an appraiser is employed or retained to act,


an unbiased analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified

interests in, or aspects of, identified real estate; and

14. “Specialized services” means those appraisal services which do not fall within the definition of

appraisal assignment. The term “specialized services” may include valuation work and analysis work.

Regardless of the intention of the client or employer, if the appraiser would be perceived by third

parties or the public as acting as a disinterested third party in rendering an unbiased analysis, opinion or

conclusion, the work is classified as an appraisal assignment and not “specialized services”.

§ 858-704. Use of term “state certified”--Injunctive proceedings

A. No person, other than a trainee, state licensed, state certified residential or state certified general

real estate appraiser, shall assume or use that title or any title, designation, or abbreviation likely to

create the impression of certification as a real estate appraiser by this state. A person who is not

certified pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act shall not

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/OklahomaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.reab.oid.ok.gov/

https://a.next.westlaw.com/Document/NEAD59A90C81411DB8F04FB3E68C8F4C5/View/FullText.html?navigationPath=Search%2Fv3%2Fsearch%2Fresults%2Fnavigation%2Fi0ad604070000014519db1dffe221b083%3FNav%3DSTATUTE%26fragmentIdentifier%3DNEAD59A90C81411DB8F04FB3E68C8F4C5%26startIndex%3D1%26contextData%3D%2528sc.Search%2529%26transitionType%3DSearchItem&listSource=Search&listPageSource=9c053b3c45f3722a1b2d5324fef8c76e&list=STATUTE&rank=8&grading=na&sessionScopeId=c9ae1e04d4d73b7f14be0364dfafe442&originationContext=Search%20Result&transitionType=SearchItem&contextData=%28sc.Search%29#co_footnote_I48A0861005EA11DFB365BE993BED9117

69

describe or refer to any appraisal or other evaluation of real estate located in this state by using the

term “state certified”.

§ 858-727. Employment of certified real estate appraiser--Compliance with Act

A client or employer may retain or employ an Oklahoma certified real estate appraiser to act as a

disinterested third party in rendering an unbiased estimate of value or analysis. A client or employer

may also retain or employ an Oklahoma certified real estate appraiser to provide specialized services to

facilitate the client's or employer's objectives. In either case, the appraisal and the appraisal report must

comply with the provisions of this act.



As used in the Oklahoma Appraisal Management Company Regulation Act:

6. “Appraisal review” means the act or process of developing and communicating an opinion about the

quality of another appraiser's work that was performed as part of an appraisal assignment related to the

appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the

Uniform Standards of Professional Appraisal Practice. This term does not include:

a. a general examination for grammatical, typographical or other similar errors, or

b. a general examination for completeness including regulatory and/or client requirements as

specified in the agreement process that does not communicate an opinion;

§ 858-816. Annual certification of system to validate an appraisers performance

Each AMC seeking to be registered or to renew a registration in this state shall certify to the Oklahoma

Real Estate Appraiser Board on a form prescribed by the Board on an annual basis that it has a system in

place to perform an appraisal review of the work product of a statistically significant number of

appraisal reports submitted by each appraiser who is performing appraisals for the AMC on a periodic

basis to validate that the appraisals are being conducted in accordance with the USPAP and the

Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder. An AMC shall

report to the Board the results of any appraisal reviews in which an appraisal is found to be substantially

noncompliant with USPAP.

§ 858-813. Credentials of employees or contractors of an AMC

Any employee of, or independent contractor to, the AMC that performs an appraisal review for a

property located in Oklahoma shall be an appraiser credentialed in good standing in the State of

Oklahoma.

70

RETURN TO INDEX

Oregon


Appraiser Certification and Licensure Board

3000 Market Street, NE Suite 541

Salem, OR 97303

Website: http://www.oregonaclb.org/

Phone: 503-485-2555

Fax: 503-485-2559

674.100. Persons required to be certified or licensed; exclusions; violations

(1)(a) A person may not engage in, carry on, advertise or purport to engage in or carry on real estate

appraisal activity within this state without first obtaining certification, licensure or registration as

provided for in ORS 674.310.

(b) Real estate appraisal activity is the preparation, completion and issuance of an opinion as to the

value on a given date or at a given time of real property or an interest in real property, whether the

activity is performed in connection with a federally related transaction or is not performed in connection

with a federally related transaction. Notwithstanding any other provision of law, a state certified

appraiser or a state licensed appraiser:

(A) Is not required to be licensed under ORS 696.022 to perform real estate appraisal activity or any

other activity that constitutes the giving of an opinion as to the value of real property or an interest in

real property; and

(B) Is not subject to regulation under ORS 696.010 to 696.495 and 696.600 to 696.995 in connection

with the performance of real estate appraisal activity or the performance of any other activity that

constitutes the giving of an opinion as to the value of real estate or an interest in real estate.

(2) Real estate appraisal activity excludes activity that is not performed in connection with a federally

related transaction and that:

(a) Is performed by a nonlicensed regular full-time employee of a single owner of real estate, if the

activity involves the real estate of the employer and is incidental to the employee's normal, nonreal

estate activities;

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/OregonStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.oregonaclb.org/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000534&cite=ORSTS674.310&originatingDoc=N2CC03A40B52E11DB8E46AD894CF6FAAB&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)






71

(b) Is performed by a nonlicensed regular full-time employee whose activity involves the real estate of

the employer, when the activity is the employee's principal activity, but the employer's principal activity

or business is not the appraisal of real estate;

(c) Is performed by an attorney at law rendering services in the performance of duties as an attorney at

law;

(d) Is performed by a registered geologist, registered professional engineer or architect rendering

services as a registered geologist, registered professional engineer or architect;

(e) Is performed by a certified public accountant rendering services as a certified public accountant;

(f) Is performed by a mortgage banker rendering services as a mortgage banker;

(g) Constitutes a letter opinion or a competitive market analysis as those terms are defined in ORS

696.010 that, by administrative or judicial order or subpoena, is compelled from an individual licensed

to engage in professional real estate activity under ORS 696.022;

(h) Is performed by a salaried employee of the federal government, the State of Oregon or a political

subdivision of the federal government or the State of Oregon while engaged in the performance of the

duties of the employee;

(i) Is limited to analyzing or advising of permissible land use alternatives, environmental impact, building

and use permit procedures or demographic market studies, if the performance of the activities does not

involve the rendering of an opinion as to the value of the real estate in question;

(j) Is performed by a professional forester appraising or valuing timber, timberland or both as part of

services performed as a private consultant in forest management, but only if, in the case of timberland,

the appraisal or valuation is limited to the use of the land as forestland;

(k) Is limited to giving an opinion in an administrative or judicial proceeding regarding the value of real

estate for taxation;

(L) Is limited to giving an opinion regarding the value of real estate by a person who is not licensed under

ORS chapter 696, if the person's business is not the appraisal, selling or listing of real estate and the

activity is performed without compensation. This paragraph does not apply to a person conducting

transactional negotiations on behalf of another person for transfer of an interest in real property;

(m) Is limited to transferring or acquiring an interest in real estate by a person who is not licensed under

ORS chapter 696; or

(n) Is performed by a home inspector acting within the scope of a certificate or license issued under ORS

chapter 701.




72

(3)(a) Real estate appraisal activity does not include an analysis, evaluation, opinion, conclusion,

notation or compilation of data prepared by a financial institution or affiliate, a consumer finance

company licensed under ORS chapter 725 or an insurance company or affiliate, made for internal use

only by the financial institution or affiliate, consumer finance company or the insurance company or

affiliate, concerning an interest in real estate for ownership or collateral purposes by the financial

institution or affiliate, the consumer finance company licensed under ORS chapter 725 or the insurance

company or affiliate. Nothing in this subsection shall be construed to excuse a financial institution or

affiliate from complying with the provisions of Title XI of the federal Financial Institutions Reform,

Recovery and Enforcement Act of 1989 (12 U.S.C. 3310 et seq.).

(b) As used in this subsection, “evaluation” means a study of the nature, quality or utility of a parcel of

real estate or interests in, or aspects of, real property in which a value estimate is not necessarily

required.



As used in ORS 674.200 to 674.250:

(1) “Appraisal” means the process of developing an opinion of the value of real property in conformance

with commonly accepted standards for appraisers.

(4)(a) “Appraisal review” means the act or process of developing and communicating an opinion about

the quality of the substantive aspects of another appraiser's work that was performed as part of an

appraisal assignment.

(b) An “appraisal review” is not a quality control examination.

(10)(a) “Quality control examination” means an examination of an appraisal report for compliance and

completeness in relation to client specifications, including examination for grammatical or typographical

errors.

(b) A “quality control examination” is not an appraisal review.

674.220. Prohibited activities of appraisal management companies

(1) An appraisal management company or an employee, controlling person or agent of an appraisal

management company may not:

(h) Allow a person to perform an appraisal review relating to a property located in this state if the

person is not an appraiser with the licensure required to perform the appraisal review;

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3310&originatingDoc=N2CC03A40B52E11DB8E46AD894CF6FAAB&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000534&cite=ORSTS674.250&originatingDoc=NA5EA65D0AEE911E094298DACAD282413&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

73

RETURN TO INDEX

Pennsylvania


Board of Certified Real Estate Appraisers

2601 N. Third Street

Harrisburg, PA 17110

Website: http://www.dos.state.pa.us/bpoa/cwp/view.asp?a=1104&q=432589

Phone: 717-783-4866

Fax: 717-705-5540

§ 457.2. Definitions

The following words and phrases when used in this act shall have the meanings given to them in this

section unless the context clearly indicates otherwise:

“Appraisal.” A written analysis, opinion or conclusion relating to the nature, quality, value or utility of

specified interests in, or aspects of, identified real property, for or in expectation of compensation.

§ 457.3. Real estate appraiser certification required

It shall be unlawful for any person to do any of the following:

(1) To hold himself out as a State-certified real estate appraiser or to perform appraisals required by the

Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Public Law 101-73, 103 Stat.

183)to be performed by a State-certified or State-licensed real estate appraiser unless that person holds

an appropriate, current and valid certificate from the board to perform real estate appraisals.

(2) To perform real estate appraisals in nonfederally related transactions unless that person holds an

appropriate, current and valid certificate from the board to perform real estate appraisals.

(3) To hold himself out as a real estate appraiser or appraiser trainee without an appropriate, current

and valid certificate or license from the board.



The following words and phrases when used in this act shall have the meanings given to them in this

section unless the context clearly indicates otherwise:

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/PennsylvaniaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.dos.state.pa.us/bpoa/cwp/view.asp?a=1104&q=432589



74

“Appraisal review.” An appraisal review as defined by the Uniform Standards of Professional Appraisal

Practice issued by the Appraisal Standards Board.

§ 457.27. Responsibilities and duties of appraisal management companies

(a) Conduct of reviews.--All appraisal reviews in this Commonwealth must be conducted for an appraisal

management company by:

(1) a certified appraiser in good standing in this Commonwealth; or

(2) a certified or licensed appraiser in good standing in another state.

75

RETURN TO INDEX

Rhode Island



1511 Pontiac Avenue, Building 69-1

Cranston, RI 02920

Website: http://www.dbr.state.ri.us/divisions/commlicensing/realestate.php

Phone: 401-462-9506

Fax: 401-462-9645

§ 5-20.7-2. Definitions

When used in this chapter, unless the context indicates otherwise:

(1) “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion relating to the

nature, quality, value or utility of specified interests in, or aspects of, identified real estate. An appraisal

may be classified by subject matter into either a valuation or an analysis. A “valuation” is an estimate of

the value of real estate or real property. An “analysis” is a study of real estate or real property other

than estimating value.

§ 5-20.7-3. Certification required

(a) No person, other than persons certified in accordance with the provisions of this chapter, shall

assume or use that title or any title, designation or abbreviation likely to create the impression of

certification as a real estate appraiser by this state. A person who is not certified pursuant to this

chapter shall not describe or refer to any appraisal or other valuation of real estate located in the state

by the term “certified”.

(b) This chapter precludes any person who is not certified as a state certified real estate appraiser from

appraising real property for compensation under chapter 20.5 of this title; provided, however, that this

chapter does not preclude any person who holds a license pursuant to chapter 20.5 of this title and, in

the ordinary course of business, from giving a written or oral opinion of value of real estate for the

purposes of a prospective listing, purchase, sale, or business valuation; provided, however, that such

opinion of value shall not be referred to as an appraisal.

(c) Nothing in this chapter shall preclude a trainee directly supervised by a certified appraiser from

assisting in or preparing a certified appraisal and signing such appraisal provided the appraisal is

approved and signed by a certified appraiser as appropriate.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/RhodeIslandStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.dbr.state.ri.us/divisions/commlicensing/realestate.php

76

(d) Any appraisal conducted by an institution licensed in this state to accept deposits in connection with

a loan transaction, other than those conducted by:

(1) Federally or NCUA insured banks, savings banks, or credit unions; or

(2) Persons regulated or licensed under title 19 or any transactions, municipal or state, regardless of

monetary value, shall require an appraisal by a licensed or certified appraiser.

77

RETURN TO INDEX

South Carolina



P.O. Box 11847

Columbia, SC 29211-1847

Website: http://www.llr.state.sc.us/POL/REAB/

Phone: 803-896-4400

Fax: 803-896-4404

§ 40-60-20. Definitions.

In addition to the definitions provided in Section 40-1-20, as used in this chapter unless the context

requires otherwise:

(2) “Appraisal” as a noun means the act or process of developing an opinion of value for or in

expectation of compensation, fee, or other consideration; as an adjective, “appraisal” means of or

pertaining to appraising and related functions including, but not limited to, appraisal practice and

appraisal services.

(3) “Appraisal assignment” or “valuation assignment” means an engagement for which an appraiser is

employed or retained to act, or would be perceived by third parties or the public as acting, as a

disinterested third party in rendering an unbiased analysis, opinion, or conclusion that estimates the

value of real estate.

(20) “Real estate appraisal activity” means the act or process of valuing real estate or real property and

preparing an appraisal report.

§ 40-60-30. License requirement; exceptions

It is unlawful for an individual to assume or use a title, designation, or abbreviation likely to create the

impression that the person is a real estate appraiser or to engage in appraisal activity or advertise as an

appraiser without a valid license issued by the department. However, nothing in this chapter may be

construed to apply to:

(1) a real estate licensee licensed in accordance with Chapter 57 of Title 40 who performs a market

analysis or gives an opinion as to the price of real estate on the condition that the market analysis or

opinion is not referred to as an appraisal. Before performing a market analysis, the real estate licensee

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/SouthCarolinaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.llr.state.sc.us/POL/REAB/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1001530&cite=SCSTS40-1-20&originatingDoc=N5210F300048B11DC80E4AF77B309738E&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

78

must disclose to the requesting party: “This market analysis may not be used for the purposes of

obtaining financing in a federally-related transaction”;

(2) a forester registered pursuant to Chapter 27 of Title 48 who appraises or evaluates standing or

growing timber or timberland located in this State and issues an appraisal or evaluation on the timber or

timberland; however, when an appraisal or evaluation is to be used in a federally-related transaction,

the registered forester must be licensed or certified under this chapter if required by federal law.

79

RETURN TO INDEX

South Dakota


Appraiser Certification Program

308 South Pierre Street

Pierre, SD 57501-3137

Website: http://dlr.sd.gov/reg/appraisers/appraiser.html

Phone: 605-773-4608

Fax: 605-773-5405

36-21B-1. Appraisers to be certified, licensed, or registered--Injunction for violation

Any person who performs a real estate appraisal or advertises or holds himself or herself out to the

general public as a real estate appraiser in this state shall be certified, licensed, or registered by the

Department of Labor and Regulation unless exempt under another provision of this chapter or another

provision of statute. Any person who violates this section may be restrained by permanent injunction in

any court of competent jurisdiction, at the suit of the attorney general or any citizen of the state.

36-21B-2. Appraisal defined

For the purposes of this chapter, an appraisal is the act or process of developing an opinion of value of

real estate for another and for compensation.

20:77:01:02. Appraisal review.

“Appraisal review,” is an act or process of developing and communicating an opinion about the quality

of another appraiser's work that was performed as part of an appraisal assignment related to the

appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the

Uniform Standards of Professional Appraisal Practice. The term does not include a general examination

for grammatical, typographical or other similar errors, or a general examination for completeness

including regulatory, or client requirements or both as specified in the agreement process that does not

communicate an opinion.

20:77:05:01. Responsibilities and duties.

An appraisal management company registered under the provisions of this article shall:

(4) Have a system in place to verify that any employee of, or independent contractor to, the appraisal

management company that is utilized to perform an appraisal review, of the work of utilized appraisers

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/SouthDakotaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://dlr.sd.gov/reg/appraisers/appraiser.html

80

who perform an appraisal assignment for a property located in South Dakota, be licensed or certified

and in good standing by this state;

81

RETURN TO INDEX

Tennessee


Real Estate Appraiser Commission

500 James Robertson Parkway, Suite 620

Nashville, TN 37243-1166

Website: http://www.state.tn.us/commerce/boards/treac/index.shtml

Phone: 615-741-1831

Fax: 615-253-1692



(1) “Analysis assignment” means an analysis, opinion or conclusion prepared by a real estate appraiser

that relates to the nature, quality or utility of identified real estate or identified real property;

(2) “Appraisal” means the act or process of developing an opinion of value of identified real estate. That

opinion of value may be numerically expressed either as a specific amount, as a range of numbers or as

a relationship to a previous value opinion or other numerical benchmark;



an unbiased analysis, opinion or conclusion relating to the nature, quality, value or utility of specified

interests in, or aspects of, identified real estate;

(5) “Appraisal report” means any communication, written or oral, of an opinion of value of identified

real estate. For the purposes of this chapter, an appraiser who testifies as to the value of an identified

real property is deemed to have provided an oral appraisal report;

(9) “Real estate appraisal activity” means the act or process of making an appraisal of real estate or real

property and preparing an appraisal report;

(10) “Real estate appraiser” means a person who engages in real estate appraisal activity for a fee or

other valuable consideration;

(11) “Real property” means one (1) or more defined interests, benefits and rights inherent in the

ownership of real estate;

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/TennesseeStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.state.tn.us/commerce/boards/treac/index.shtml

82

(12) “Review assignment” means an analysis, opinion or conclusion prepared by a real estate appraiser

that forms an opinion as to the adequacy and appropriateness of a valuation appraisal or an analysis

assignment;

§ 62-39-103. Licenses or certificate; necessity; exemptions

(a) Except as provided in §62-39-104, it is unlawful for anyone to solicit an appraisal assignment or to

prepare an appraisal or an appraisal report relating to real estate or real property in this state without

first obtaining a real estate appraiser's license or certificate.

(b) This section shall not be construed to apply to individuals who render professional assistance in

arriving at a real estate analysis, opinion or conclusion.

(c) Nothing in this chapter shall be construed to prohibit any person who is licensed to practice in this

state under any other law from engaging in the practice for which the person is licensed.



As used in this part, unless the context otherwise requires:


quality of another appraiser's work that was performed as part of an appraisal assignment, except that

an examination of an appraisal for grammatical, typographical, or other similar errors shall not be an

appraisal review;

§ 62-39-413. Appraisal review services; employee or independent contractor; license or certification

Any employee or independent contractor of the appraisal management company who performs an

appraisal review service on an appraisal done on real property located within Tennessee must be an

individual who holds a license as defined in § 62-39-102 or certification as defined in § 62-39-102.

Letters of engagement shall include instructions to the appraiser to decline the appraisal

review assignment in the event the appraiser is not geographically competent or the assignment falls

outside the appraiser's scope of practice restrictions.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000039&cite=TNSTS62-39-104&originatingDoc=N35B2A4E0CA2E11DE8EE6E422E8E113B4&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000039&cite=TNSTS62-39-102&originatingDoc=N15DD99F0AD4411DFB001A64EC8FDBA98&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000039&cite=TNSTS62-39-102&originatingDoc=N15DD99F0AD4411DFB001A64EC8FDBA98&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Search)

83

RETURN TO INDEX

Texas


Appraiser Licensing and Certification Board

P.O. Box 12188

Austin, TX 78711-2188

Website: http://www.talcb.texas.gov/AgencyInfo/default.asp

Phone: 512-936-3001

Fax: 512-936-3966


In this chapter:

(1) “Appraisal” means, regardless of whether prepared for a federally related transaction:

(A) an opinion of value; or

(B) the act or process of developing an opinion of value.

§ 1103.201. Certificate or License Required

(a) A person may not perform an appraisal of real estate unless the person is licensed or certified as an

appraiser under this chapter, registered as a temporary out-of-state appraiser under this chapter, or

acting as an appraiser trainee under the sponsorship of a certified appraiser.

(b) Unless the person holds the appropriate license or certification, a person may not:

(1) use the title “state-certified real estate appraiser” or “state-licensed real estate appraiser”; or

(2) refer to an appraisal performed by the person as a “certified appraisal” or “licensed appraisal.”




quality of another appraiser's work that was performed as part of an appraisal assignment. The term

does not include an examination of an appraisal for grammatical, typographical, mathematical, or other

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/TexasStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.talcb.texas.gov/AgencyInfo/default.asp

84

similar administrative errors that do not involve the appraiser's professional judgment, including

compliance with the elements of the client's statement of work.

§ 1104.153. Appraisal Review

A person who performs an appraisal review for an appraisal management company must be licensed or

certified under Chapter 1103 with at least the same certification for the property type as the appraiser

who completed the report being reviewed.

85

RETURN TO INDEX

Utah


Division of Real Estate

P.O. Box 146711

Salt Lake City, UT 84114-6711

Website: http://www.realestate.utah.gov/

Phone: 801-530-6747

Fax: 801-526-4387

§ 61-2g-102. Definitions

(1) As used in this chapter:

(a)(i) “Appraisal” means an analysis, opinion, or conclusion relating to the nature, quality, value, or

utility of a specified interest in, or aspect of, identified real estate or identified real property.

(ii) An appraisal is classified by the nature of the assignment as a valuation appraisal, an analysis

assignment, or a review assignment in accordance with the following definitions:

(A) “Analysis assignment” means an unbiased analysis, opinion, or conclusion that relates to the

nature, quality, or utility of identified real estate or identified real property.

(B) “Review assignment” means an unbiased analysis, opinion, or conclusion that forms an

opinion as to the adequacy and appropriateness of a valuation appraisal or an analysis

assignment.

(C) “Valuation appraisal” means an unbiased analysis, opinion, or conclusion that estimates the

value of an identified parcel of real estate or identified real property at a particular point in

time.

(c)(i) “Appraisal report” means a communication, written or oral, of an appraisal.

(ii) An appraisal report is classified by the nature of the assignment as a valuation report,

analysis report, or review report in accordance with the definitions provided in Subsection

(1)(a)(ii).

(iii) The testimony of a person relating to the person's analyses, conclusions, or opinions

concerning identified real estate or identified real property is considered to be an oral appraisal

report.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/UtahStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.realestate.utah.gov/

86

(h)(i)(A) “Consultation service” means an engagement to provide a real estate valuation service analysis,

opinion, conclusion, or other service that does not fall within the definition of appraisal.

(B) “Consultation service” does not mean a valuation appraisal, analysis assignment, or review

assignment.

(ii) Regardless of the intention of the client or employer, if a person prepares an unbiased analysis,

opinion, or conclusion, the analysis, opinion, or conclusion is considered to be an appraisal and not a

consultation service.

(l) “Real estate” means an identified parcel or tract of land including improvements if any.

(m) “Real estate appraisal activity” means the act or process of making an appraisal of real estate or real


§ 61-2g-301. License or certification required

(1) Except as provided in Subsection (2), it is unlawful for a person to prepare, for valuable

consideration, an appraisal, an appraisal report, a certified appraisal report, or perform a consultation

service relating to real estate or real property in this state without first being licensed or certified in

accordance with this chapter.

87

RETURN TO INDEX

Vermont



89 Main Street, 3rd Floor

Montpelier, VT 05620-3402

Website: http://vtprofessionals.org/opr1/real_estate_appraisers/

Phone: 802-828-3228

Fax: 802-828-2465

26 V.S.A. § 3311, Definitions


(2) “Appraisal” means an analysis, opinion, or conclusion relating to the value of specified interests in or

aspects of identified real estate or identified real property.

26 V.S.A. § 3312, Prohibitions; penalty; exemption

(a) Unless licensed in accordance with the provisions of this chapter, no person may:

(1) Perform an appraisal in a federally related transaction when a licensed or certified appraiser

is required by the Act.1

(2) Use in connection with his or her name any letters, words, or insignia indicating that he or

she is a state certified or licensed real estate appraiser.


26 V.S.A. § 3320a, Appraisal management companies

(e) A registrant's employee reviewing finished appraisals shall be certified or licensed in good standing in

one or more states and shall be certified at a level that corresponds with or is higher than the level of

licensure required to perform the appraisal.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/VermontStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://vtprofessionals.org/opr1/real_estate_appraisers/

https://a.next.westlaw.com/Document/N09E8AB70A74811DDBA3BBA27398753C7/View/FullText.html?originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)#co_footnote_I817DA8F01BDE11DF83D8B63029BC2481

88

RETURN TO INDEX

Virginia


9960 Mayland Drive, Suite 400

Richmond, VA 23233-1463

Website: http://www.dpor.virginia.gov/boards/appraisers/

Phone: 804-367-8552

Fax: 804-367-6946

VA Code Ann. § 54.1-2009, Definitions

As used in this chapter, unless the context clearly indicates otherwise:

“Appraisal” means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of

specified interests in, or aspects of, identified real estate or identified real property. An appraisal may be

classified by subject matter into either a valuation or analysis. A “valuation” is an estimate of the value

of real estate or real property. An “analysis” is a study of real estate or real property other than

estimating value. The term “appraiser” or “appraisal” may be used only by a person licensed or certified

by the Board.

“Appraisal report” means any communications, written or oral, of an appraisal.

VA Code Ann. § 54.1-2011, Necessity for license

A. After December 31, 1992, except as provided in § 54.1-2010 and in subsections C and E of this

section, it shall be unlawful to engage in the appraisal of real estate or real property for compensation

or valuable consideration in this Commonwealth without first obtaining a real estate appraiser's license

in accordance with Board regulations promulgated pursuant to the Administrative Process Act (§ 2.2-

4000 et seq.).

B. After December 31, 1992, except as provided in § 54.1-2010, it shall be unlawful for any person who is

not licensed pursuant to this chapter to perform an appraisal in connection with a federally related

transaction.

C. Notwithstanding subsections A and B of this section, an individual who is not a licensed residential

real estate appraiser, a certified residential real estate appraiser, or a certified general real estate

appraiser may assist in the preparation of and sign an appraisal if:

1. The assistant is under the direct supervision of a licensed residential real estate appraiser, a certified

residential real estate appraiser, or a certified general real estate appraiser; and

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/VirginiaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.dpor.virginia.gov/boards/appraisers/

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000040&cite=VASTS54.1-2010&originatingDoc=NB037A0E0843E11E1AD1FAD4C1D8B1C7A&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)




89

2. The appraisal is reviewed, attested to be accurate and complete, and signed by such licensed

residential real estate appraiser, certified residential real estate appraiser, or certified general real

estate appraiser in accordance with this chapter.

E. A corporation, partnership, or other business entity may provide appraisal services if each appraisal is

prepared and signed by an individual licensed in accordance with this chapter and such corporation,

partnership, or other business entity has registered with the Board. However, any appraisal

management company that is required to be licensed under § 54.1-2021.1 shall not be required to have

an additional license under this section.

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000040&cite=VASTS54.1-2021.1&originatingDoc=NB037A0E0843E11E1AD1FAD4C1D8B1C7A&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=(sc.Category)

90

RETURN TO INDEX

Washington


Real Estate Appraisers Licensing Program

PO Box 9021

Olympia, WA 98507-9021

Website: http://www.dol.wa.gov/business/appraisers/

Phone: 360-664-6504

Fax: 360-586-0998

RCWA 18.140.010, Definitions

The definitions in this section apply throughout this chapter unless the context clearly requires

otherwise.

(1) “Appraisal” means the act or process of estimating value; an estimate of value; or of or pertaining to

appraising and related functions.

(2) “Appraisal report” means any communication, written or oral, of an appraisal, review, or consulting

service in accordance with the standards of professional conduct or practice, adopted by the director,

that is transmitted to the client upon completion of an assignment.



an unbiased analysis, opinion, or conclusion relating to the value of specified interests in, or aspects of,

identified real estate. The term “appraisal assignment” may apply to valuation work and analysis work.

(20) “Review” means the act or process of critically studying an appraisal report prepared by another.

RCWA 18.140.020, Use of title by unauthorized person

(1) No person other than a state-certified or state-licensed real estate appraiser may receive

compensation of any form for a real estate appraisal or an appraisal review, except that a state-

registered appraiser trainee may receive compensation from one or more supervisory appraisers or the

supervisory appraiser's employer for appraisal assignments.

(2) Compensation may be provided for brokers price opinions prepared by a real estate licensee,

licensed under chapter 18.85 RCW.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/WashingtonStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.dol.wa.gov/business/appraisers/

91

(3) No person, other than a state-certified, state-licensed real estate appraiser, or a state-registered

appraiser trainee may assume or use that title or any title, designation, or abbreviation likely to create

the impression of certification, licensure, or registration as a real estate appraiser by this state.

(4) A person who is not certified, licensed, or registered under this chapter shall not prepare any

appraisal of real estate located in this state, except as provided under subsection (2) of this section.

(7) This section does not apply to an appraisal or an appraisal review performed for a financial

institution or mortgage broker by an employee or third party, when such appraisal or appraisal review is

not required to be performed by a state-certified or state-licensed real estate appraiser by the

appropriate federal financial institutions regulatory agency.


RCWA 18.310.010, Definitions

The definitions in this section apply throughout this chapter unless the context clearly requires

otherwise.

(1) “Appraisal” means the act or process of estimating value; an estimate of value; or of pertaining to

appraising and related functions.

(4) “Appraisal review” or “appraisal review services” means developing and communicating an opinion

about the quality of another appraiser's work that was performed, or assignment results that were

developed, as part of an appraisal assignment.

(5) “Appraiser” means a person who is licensed or certified under chapter 18.140 RCW or under similar

laws of another state.

RCWA 18.310.110, Appraiser requirements

(3) Any employee of the appraisal management company, or any contractor working in any capacity on

behalf of the appraisal management company, that has any involvement in the actual performance of

appraisal or appraisal review services or review and analysis of completed appraisals must be a state

licensed or state-certified appraiser in the state in which the property is located, and must have

geographic and product competence. This requirement does not apply to any review or examination of

the appraisal for grammatical, typographical, or similar errors or general reviews of the appraisal for

completeness.

92

RETURN TO INDEX

West Virginia


Real Estate Appraiser Licensing & Certification Board

2110 Kanawha Blvd., East, Suite 101

Charleston, WV 25311

Website: http://www.appraiserboard.wv.gov/Pages/default.aspx

Phone: 304-558-3919

Fax: 304-558-3983

W. Va. Code, § 30-38-3, Definitions

As used in this article, the following terms have the following meanings:

(a) “Appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser relating to


identified real property. An appraisal may be classified by the nature of the assignment as a valuation

appraisal, an analysis assignment or a review assignment.

(b) “Analysis assignment” means an analysis, opinion or conclusion prepared by a real estate appraiser

that relates to the nature, quality or utility of identified real estate or identified real property.

(d) “Appraisal report” means any communication, written or oral, of an appraisal. An appraisal report

may be classified by the nature of the assignment as a “valuation report”, “analysis report” or

“review report”. For the purposes of this article, the testimony of an appraiser dealing with the

appraiser's analyses, conclusions or opinions concerning identified real estate or identified real property

is considered an oral appraisal report.

(m) “Real estate” means an identified parcel or tract of land, including improvements, if any.

(n) “Real estate appraisal activity” means the act or process of making an appraisal of real estate or real


(o) “Real estate appraiser” means a person who engages in real estate appraisal activity for a fee or

other valuable consideration.

(p) “Real property interests” means one or more defined interests, benefits or rights inherent in the

ownership of real estate.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/WestVirginiaStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://www.appraiserboard.wv.gov/Pages/default.aspx

93

(q) “Review assignment” means an analysis, opinion or conclusion prepared by a real estate appraiser

that forms an opinion as to the adequacy and appropriateness of a valuation appraisal or an analysis

assignment.

(s) “Valuation appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser

that estimates the value of an identified parcel of real estate or identified real property at a particular

point in time.

W. Va. Code, § 30-38-1, Real estate appraiser license required; exceptions

(a) It is unlawful for any person, for compensation or valuable consideration, to prepare a valuation

appraisal or a valuation appraisal report relating to real estate or real property in this state without first

being licensed or certified as provided in this article. This section shall not be construed to apply to

persons who do not render significant professional assistance in arriving at a real estate appraisal

analysis, opinion or conclusion. Nothing in this article may be construed to prohibit any person who is

licensed to practice in this state under any other law from engaging in the practice for which he or she is

licensed.

(b) No person other than a person licensed or certified under this article may use the title of licensed

appraiser or certified appraiser or any title, designation or abbreviation likely to create the impression

that the person is licensed or certified by the state.

(c) This article does not apply to:

(3) An employee who renders an opinion as to the value of real estate for his or her full-time employer,

for the employer's internal use only and performed in the regular course of the employee's position,

when the opinion is not referred to as an appraisal and no fee is charged;


W. Va. Code, § 30-38A-3, Definitions

As used in this article, the following words and terms have the following meanings, unless the context

clearly indicates otherwise:

(b) “Appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser relating to


identified real property. An appraisal may be classified by the nature of the assignment as a valuation

appraisal, an analysis assignment or a review assignment.

(e) “Appraisal review” means the act of developing and communicating an opinion about the quality of

another appraiser's work that was performed as part of an appraiser assignment. The review does not

include:

94

(1) An examination of an appraisal for grammatical, typographical or other similar errors that do not

make a substantive valuation change; or

(2) A general examination for compliance including regulatory and/or client requirements as specified in

the agreement process that do not communicate an opinion as to the valuation conclusion.

95

RETURN TO INDEX

Wisconsin


Dept of Safety and Professional Services

P.O. Box 8935

Madison, WI 53708-8935

Website: http://dsps.wi.gov/Default.aspx?Page=56b0c8df-796a-41cf-b8af-cd1419a55b3e

Phone: 608-266-2112

Fax: 608-261-7083

458.01. Definitions

In this chapter:

(1) “Appraisal” means an analysis, opinion or conclusion relating to the nature, quality, value or utility of

specified interests in or aspects of real estate.

(3) “Appraisal report” means a written communication of an appraisal.

(10) “Federally related transaction” has the meaning given in 12 USC 3350(4).

458.02. Limitations and exceptions

Nothing in this chapter shall be construed to prohibit a person who is not a certified appraiser or

licensed appraiser from appraising real estate or from cosigning an appraisal report with a certified

appraiser or licensed appraiser if the person complies with s. 458.055.

458.055. Prohibited conduct

Except as provided in s. 458.095, no person may do any of the following:

(1) Use the title “Wisconsin certified appraiser”, “Wisconsin certified general appraiser”, “Wisconsin

certified residential appraiser” or any similar title unless the person holds an applicable appraiser

certificate issued under s. 458.06.

(2) Describe or refer to an appraisal of real estate located in this state by the term “Wisconsin certified”

or any similar term unless the person holds an applicable appraiser certificate issued under s. 458.06.

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/WisconsinStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://dsps.wi.gov/Default.aspx?Page=56b0c8df-796a-41cf-b8af-cd1419a55b3e

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000546&cite=12USCAS3350&originationContext=document&transitionType=DocumentItem&contextData=%28sc.Category%29#co_pp_0bd500007a412

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000260&cite=WIST458.055&originatingDoc=N9F1F389077CF11DAA16E8D4AC7636430&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=%28sc.Category%29

https://a.next.westlaw.com/Link/Document/FullText?findType=L&pubNum=1000260&cite=WIST458.095&originatingDoc=NA04AE75077CF11DAA16E8D4AC7636430&refType=LQ&originationContext=document&transitionType=DocumentItem&contextData=%28sc.Category%29



96

(3) Use the title “Wisconsin licensed appraiser” or any similar title unless the person is a certified

appraiser or licensed appraiser.

(4) Describe or refer to an appraisal of real estate located in this state by the term “Wisconsin licensed”

or any similar term unless the person is a certified appraiser or licensed appraiser.

458.095. Temporary use of titles; appraisers certified or licensed in other states

A certificate under this chapter is not required for an appraiser who holds a current appraiser certificate

in another state if all of the following apply:

(1) The appraisal is performed in a federally related transaction.

(2) The appraiser's practice in this state is of a temporary nature, as determined by the department by

rule.

(3) The appraiser is registered with the department.

(4) The appraiser meets all other requirements established in rules promulgated by the department for

the regulation of temporary appraiser practice.

97

RETURN TO INDEX

Wyoming


Certified Real Estate Appraiser Board

2020 Carey Avenue, Suite 702

Cheyenne, WY 82002-0180

Website: http://realestate.wyo.gov/

Phone: 307-777-7141

Fax: 307-777-3796

§ 33-39-101. Short title; license required

(b) Beginning July 1, 1991, it is unlawful for any person to directly or indirectly engage in, advertise,

conduct the business of or act in any capacity as a certified real estate appraiser for compensation

within this state without first obtaining certification as provided in this act.


(a) As used in this act:

(i) “Appraisal” or “real estate appraisal” means a supportable opinion or conclusion relating to the

nature, quality, value or utility of specified interests in, or aspects of, identified real estate;

§ 33-39-103. Exemptions

(a) Except as provided in subsection (b) of this section, this act does not apply to any person who does

not hold himself out as, or offer to perform services as, a certified real estate appraiser.

§ 33-39-115. Nonresident permit

(a) Prior to being issued a permit, every nonresident permittee shall file with the board a designation in

writing which appoints the director of the board to act as his licensed agent upon whom all judicial and

other process or legal notices directed to the permittee may be served. Service upon the agent so

designated shall be equivalent to personal service upon the permittee. Copies of the appointment,

certified by the director of the board, shall be received in evidence in any proceeding and shall be given

the same force and effect as the original. In the written designation the permittee shall agree that any

lawful process against the permittee which is served upon his appointed agent shall be of the same legal

force and validity as if served upon the permittee, and that the authority of the agent shall continue in

force so long as any liability of the permittee remains outstanding in this state. Upon the receipt of any

https://a.next.westlaw.com/Browse/Home/StatutesCourtRules/WyomingStatutesCourtRules?transitionType=Default&contextData=(sc.Default)

http://realestate.wyo.gov/

98

process or notice, the director shall mail a copy of the same by certified mail, return receipt requested,

to the last known business address of the permittee.

(b) No permit shall be issued to a nonresident until he has agreed in writing to abide by all the provisions

of this act with respect to his certified real estate appraisal activities within this state and to submit to

the jurisdiction of the board and this state as provided in subsection (a) of this section. The agreement

shall be filed with the board and shall remain in force for so long as the nonresident holds a permit

issued by this state and thereafter with respect to acts or omissions committed while holding a permit in

this state as a nonresident permittee.

(c) A nonresident of this state who has complied with the provisions of subsections (a) and (b) of this

section may obtain a permit to practice as a certified real estate appraiser by conforming to all of the

provisions of this act relating to certified real estate appraisers.

Documents

(as of May 6, 2014) For Information Purposes Only · (as of May 6, 2014) For Information Purposes Only ... partnership, or corporation, ... In this article,