Indiana Code 25-34.1-8-2. Members; appointments; removal
(1) Subject to IC 25-1-6.5-3, three (3) members who are real estate appraisers:
Terms Used In Indiana Code 25-34.1-8-2
- Board: refers to the real estate appraiser licensure and certification board established under Indiana Code 25-34.1-1-2
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2
(B) who have at least five (5) years experience as real estate appraisers; and
(C) at least one (1) of whom is a certified appraiser.
(2) Subject to IC 25-1-6.5-3, one (1) representative who represents lenders qualified to:
(A) make Federal Housing Administration insured loans and Veterans Administration guaranteed loans; and
(B) sell loans to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.
(3) Subject to IC 25-1-6.5-3, one (1) member who is not associated with the real estate business in any way other than as a consumer.
(b) A member may be removed under IC 25-1-6.5-4.
As added by P.L.186-1990, SEC.14. Amended by P.L.183-1991, SEC.11; P.L.249-2019, SEC.128.