Arizona Laws 32-3624. Professional corporations and partnerships; appraisal assistance
A corporation, partnership or other business entity may provide appraisal services in connection with transactions related to this chapter if the appraisal is prepared by individuals who are licensed or certified in accordance with this chapter. An individual who is not a state-licensed or state-certified appraiser may provide clerical or administrative assistance in the preparation of an appraisal document. An individual who is a registered trainee appraiser may be involved in developing and reporting the appraisal if both of the following apply:
Terms Used In Arizona Laws 32-3624
- Appraisal: A determination of property value.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Registered trainee appraiser: means a person who meets both of the following requirements:
(a) Is registered with the deputy director and meets the appraiser qualifications board's qualifications for trainee appraisers to perform appraisal services only under the direct supervision of a certified appraiser who has met the minimum criteria to be a supervisory appraiser. See Arizona Laws 32-3601
- State-licensed or state-certified appraiser: means a person who develops and communicates appraisals and who holds a current, valid license or certificate issued under this chapter. See Arizona Laws 32-3601
1. The registered trainee appraiser is under the direct supervision of a state-licensed or state-certified appraiser as prescribed in section 32-3612, paragraph 4.
2. The final appraisal document is approved and the certification is signed by an individual who is a state-licensed or state-certified appraiser.