South Carolina Code 40-60-38. Adoption of and conformity to national standards of professional appraiser practice
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Terms Used In South Carolina Code 40-60-38
- Appraisal: A determination of property value.
- appraisal: means of or pertaining to appraising and related functions including, but not limited to, appraisal practice and appraisal services. See South Carolina Code 40-60-20
- Appraisal Foundation: means the Appraisal Foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois, containing the Appraisal Standards Board (ASB), Appraiser Qualifications Board (AQB), a board of trustees, and other advisory bodies. See South Carolina Code 40-60-20
- Board: means the South Carolina Real Estate Appraisers Board established pursuant to the provisions of this chapter. See South Carolina Code 40-60-20
- USPAP: means the National Uniform Standards of Professional Appraisal Practice as adopted by the Appraisal Standards Board of the Appraisal Foundation and adopted by the board. See South Carolina Code 40-60-20
The board shall adopt the standards and amendments to these standards of professional appraisal practice, as promulgated by the Appraisal Standards Board of the Appraisal Foundation. All apprentice appraisers and state licensed and certified appraisers shall conform their professional conduct to the National USPAP and its amendments, as promulgated by the Appraisal Standards Board.