Kentucky Statutes 324A.065 – Fees — Disposition of fee — Exceptions
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(1) The board shall establish by regulation and collect the following fees for certification or licensure as an appraiser for:
(a) Federally related transactions:
1. Initial application fee in an amount not to exceed two hundred dollars
($200);
2. Examination fee in an amount not to exceed two hundred dollars ($200);
3. a. An annual certificate or licensure fee in an amount not to exceed two hundred dollars ($200);
b. Duplicate certificate fee in an amount not to exceed ten dollars
($10); and
c. Certificate correction fee in an amount not to exceed ten dollars
($10);
4. Roster fee not to exceed fifty dollars ($50); and
5. Returned check fee not to exceed fifty dollars ($50); and
(b) Nonfederally related transactions:
1. An annual certificate or licensure renewal fee in an amount not to exceed one hundred dollars ($100); and
2. Certificate correction fee in an amount not to exceed five dollars ($5).
(2) The board shall, through the promulgation of an administrative regulation, establish and collect the following fees from education providers for review and approval of prelicensure and continuing education courses offered by education providers for licensure as an appraiser:
(a) For prelicensure education course review, a fee not to exceed one hundred dollars ($100); and
(b) For continuing education course review, a fee not to exceed fifty dollars ($50). (3) (a) All fees and charges collected by the board under the provisions of this
chapter shall be paid into the Real Estate Appraisers Board’s trust and agency
account in the State Treasury.
(b) All expenses incurred by the board under the provisions of this chapter, including compensation to the board members and staff, shall be paid out of this account, subject to approval of the board.
(c) The provisions of this subsection shall not apply to the fee charged pursuant to KRS § 324A.155, which is required to be included in the appraisal management company recovery fund and which shall be paid into that fund.
Effective: June 29, 2021
History: Amended 2021 Ky. Acts ch. 21, sec. 6, effective June 29, 2021. — Amended
2013 Ky. Acts ch. 46, sec. 14, effective June 25, 2013. — Amended 1998 Ky. Acts ch. 377, sec. 6, effective July 15, 1998. — Amended 1992 Ky. Acts ch. 247, sec. 8, effective April 7, 1992. — Created 1990 Ky. Acts ch. 383, sec. 12, effective July 13,
1990.
Legislative Research commission Note (6/25/2013). Under the authority of KRS
7.136(1), the Reviser of Statutes has modified the internal numbering of this statute from the way it appeared in 2013 Ky. Acts ch. 46, sec. 14. The words in the text were not changed.
(a) Federally related transactions:
Terms Used In Kentucky Statutes 324A.065
- Appraisal: A determination of property value.
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
1. Initial application fee in an amount not to exceed two hundred dollars
($200);
2. Examination fee in an amount not to exceed two hundred dollars ($200);
3. a. An annual certificate or licensure fee in an amount not to exceed two hundred dollars ($200);
b. Duplicate certificate fee in an amount not to exceed ten dollars
($10); and
c. Certificate correction fee in an amount not to exceed ten dollars
($10);
4. Roster fee not to exceed fifty dollars ($50); and
5. Returned check fee not to exceed fifty dollars ($50); and
(b) Nonfederally related transactions:
1. An annual certificate or licensure renewal fee in an amount not to exceed one hundred dollars ($100); and
2. Certificate correction fee in an amount not to exceed five dollars ($5).
(2) The board shall, through the promulgation of an administrative regulation, establish and collect the following fees from education providers for review and approval of prelicensure and continuing education courses offered by education providers for licensure as an appraiser:
(a) For prelicensure education course review, a fee not to exceed one hundred dollars ($100); and
(b) For continuing education course review, a fee not to exceed fifty dollars ($50). (3) (a) All fees and charges collected by the board under the provisions of this
chapter shall be paid into the Real Estate Appraisers Board’s trust and agency
account in the State Treasury.
(b) All expenses incurred by the board under the provisions of this chapter, including compensation to the board members and staff, shall be paid out of this account, subject to approval of the board.
(c) The provisions of this subsection shall not apply to the fee charged pursuant to KRS § 324A.155, which is required to be included in the appraisal management company recovery fund and which shall be paid into that fund.
Effective: June 29, 2021
History: Amended 2021 Ky. Acts ch. 21, sec. 6, effective June 29, 2021. — Amended
2013 Ky. Acts ch. 46, sec. 14, effective June 25, 2013. — Amended 1998 Ky. Acts ch. 377, sec. 6, effective July 15, 1998. — Amended 1992 Ky. Acts ch. 247, sec. 8, effective April 7, 1992. — Created 1990 Ky. Acts ch. 383, sec. 12, effective July 13,
1990.
Legislative Research commission Note (6/25/2013). Under the authority of KRS
7.136(1), the Reviser of Statutes has modified the internal numbering of this statute from the way it appeared in 2013 Ky. Acts ch. 46, sec. 14. The words in the text were not changed.