58-4109. Classes of appraisers.
58-4109
58-4109. Classes of appraisers.(a) There is hereby established the following classes of real propertyappraisers:
(1) State licensed real property appraiser classification;
(2) certified general real property appraiser classification;
(3) certified residential real property appraiser classification; and
(4) state provisional licensed real property appraiser classification.
(b) The board may establish, by rules and regulations, such otherclassifications as permitted by federal law.
(c) The board shall adopt rules and regulations, consistent withrequirements and criteria adopted pursuant to federal law, to:
(1) Define each classification;
(2) establish education and experience requirements for eachclassification;
(3) establish examination specifications for each classification; and
(4) establish continuing education requirements for renewal of eachclassification.
(d) In adopting rules and regulations pursuant to subsection (c), theboard shall determine the education, experience and examination requirementsnecessary to provide appropriate assurance that an applicant for certificationor licensure is competent to perform appraisals within the scope of practice ofthe appraisal work authorized for the classification applied for and thatpersons renewing their certificates or licenses have current knowledge of realproperty appraisal theory, practices and techniques which will provide a highdegree of service and protection to those members of the public with whom theydeal. In making such determination, the board shall take into consideration thefollowing:
(1) Appropriate knowledge of technical terms commonly used in or relatedto real estate appraising, appraisal report writing and economic conceptsapplicable to real estate;
(2) understanding of the principles of land economics, real estateappraisal processes and problems likely to be encountered in gathering,interpreting and processing data in carrying out appraisal disciplines;
(3) understanding of the standards for the development and communicationof real estate appraisals as provided in this act;
(4) knowledge of theories of depreciation, cost estimating, methods ofcapitalization and mathematics of real estate appraisal that are appropriatefor the classification applied for;
(5) knowledge of such other principles and procedures as may beappropriate for the respective classifications;
(6) basic understanding of real estate law;
(7) understanding of the types of misconduct for which disciplinaryproceedings may be initiated against a state certified or licensed appraiser,as set forth in this act;
(8) the requirements of federal law; and
(9) such other matters as the board determines appropriate and relevant.
(e) The application for original certification or licensure andexamination shallspecify the classification being applied for.
History: L. 1990, ch. 270, § 9;L. 1991, ch. 164, § 9;L. 1993, ch. 267, § 7;L. 1994, ch. 241, § 1;L. 2005, ch. 179, § 20; July 1.