§ 5-20.7-4 - Creation of board – Composition – Appointment, terms and compensation of members.
SECTION 5-20.7-4
§ 5-20.7-4 Creation of board –Composition – Appointment, terms and compensation of members. – (a) Within the department of business regulation, there is created the RhodeIsland real estate appraisers board which shall consist of ten (10) members tobe appointed by the governor. Six (6) of the board members shall be practicingappraisers and, for the initial board appointment, shall be members in goodstanding of one of the following professional associations or the successorassociations: the American Institute of Real Estate Appraisers, the Society ofReal estate Appraisers, the International Right of Way Association, theNational Association of Independent Fee Appraisers, or the InternationalAssociation of Assessing Officers. Where possible, at least one but not morethan two (2) appraiser appointments shall be from the membership of each ofthese professional organizations.
(2) One board member shall be a member of the general public,and shall not be engaged in the practice of real estate appraisal. One boardmember shall hold a real estate license under chapter 20.5 of this title andshall not be a state certified real estate appraiser. One member shall be arepresentative of the Rhode Island banking industry. The director of thedepartment of business regulation or his or her designee shall serve at alltimes as a member of the board ex officio without voting privileges.
(3) The term of office of the initial members and the powersof the initial board expire on December 31, 1991.
(b) Commencing January 1, 1992, and subsequently, the boardshall consist of ten (10) members:
(1) Six (6) members shall be state certified appraisers:
(i) Two (2) appraiser members shall be appointed for a termof three (3) years;
(ii) Two (2) members for a term of two (2) years; and
(iii) Two (2) members for a term of one year.
(2) One board member shall be a member of the general public,appointed for a term of three (3) years, and shall not be engaged in thepractice of real estate appraisal.
(3) One board member shall hold a real estate license underchapter 20.5 of this title, appointed for a term of two (2) years and shall notbe a state certified real estate appraiser.
(4) One member shall be a representative of the Rhode Islandbanking industry and shall be appointed for a term of one year.
(5) The director of the department of business regulation, orhis or her designee, shall serve at all times as a member of the board exofficio without voting privileges.
(c) Successors of all members shall each be appointed forterms of three (3) years and until their successors are appointed and qualifiedby subscribing to the constitutional oath of office, which shall be filed withthe secretary of state. Members to fill vacancies shall be appointed for theunexpired term. No member shall be appointed to succeed himself or herself formore than two (2) terms. Upon qualification of the appointed members, the boardshall organize by selecting from its members a chairperson and vice-chairpersonwith a term of office of one year.
(2) The board shall meet not less than once each month or asnecessary in order to conduct its business, the dates and times of which shallbe decided by a vote of the members.
(3) Each real estate appraiser member of the board appointedas of January 1, 1992, must be a state certified real estate appraiser. Atleast one-half ( 1/2) of the appraiser members shall hold the general appraisalcertificate and not less than two (2) shall hold the residential appraisalcertificate.
(4) Upon expiration of their terms, members of the boardshall continue to hold office until the appointment and qualification of theirsuccessors. The appointing authority may remove a member for cause.
(5) A quorum of the board is a majority of the voting membersof the board members appointed and/or sitting, whichever is less, with at leastthree (3) of these members required to be appraiser members.
(6) The department of business regulation with the assistanceof the board, shall implement a program for recertification on or before July1, 1992, and establish any reasonable rules and regulations that areappropriate to insure that the examination, education, and experiencerequirements of certificate and license holders meet the public interest andthe minimum standards of the appraisal foundation.
(d) The board shall adopt a seal of any design that itprescribes. Copies of all records and papers in the office of the board, dulycertified and authenticated by its seal, shall be received in all courts withlike effect as the original. All records of the board shall be open to publicinspection under any reasonable rules and regulations that it prescribes.
(e) No member of the board shall receive compensation for hisor her official duties on the board but shall be reimbursed for his or heractual and necessary expenses incurred in the performance of his or herofficial duties.