§ 44-5-11.1 - Certification of businesses and employees engaged in revaluing property.
SECTION 44-5-11.1
§ 44-5-11.1 Certification of businessesand employees engaged in revaluing property. – (a) All persons, firms, associations, partnerships, and corporations engaged inthe business of revaluing property for any town or city pursuant to theprovisions of § 44-5-11.6 shall be certified by the department of revenue.
(b) All employees of persons, firms, associations,partnerships, and corporations referred to in subsection (a) of this sectionshall, prior to revaluing property for any town or city pursuant to theprovisions of § 44-5-11.6, be certified by the department of revenue asqualified to perform the services.
(c) Each person, firm, association, partnership, orcorporation referred to in subsection (a) of this section shall, prior torevaluing property for any town or city pursuant to the provisions of §44-5-11.6, disclose to the town or city council of that municipality, allstandards to be used in conducting the revaluation and secure approval of thetown or city council.
(d) The director of revenue shall promulgate rules andregulations as are necessary to carry out the purposes of this section.
(2) The rules and regulations shall include, but shall not belimited to, the following requirements:
(i) The person, firm, association, partnership, orcorporation:
(A) Must demonstrate experience in the field of assessing,revaluation, and ad valorem appraising;
(B) Must list all officers engaged in the revaluation processin Rhode Island;
(C) Must list all project managers, field supervisors,reviewers, appraisers, and other personnel engaged in the revaluation processin Rhode Island;
(D) Must provide a list of the five (5) most recentrevaluation projects performed within the preceding ten (10) years, includingthe municipality and state in which the work was performed as well as theproject supervisor for each project;
(E) Must post a performance surety bond;
(F) Demonstrate financial solvency of the company;
(G) List all pending litigation, if any, to which the companyis a party;
(ii) The rules and regulations shall require ad valoremappraisers to have either proper designations from recognized professionalorganizations or written examinations by the licensing agency.