The secretary of the Department of Labor and Regulation may promulgate rules pursuant to chapter 1-26 relating to appraisers and appraisals in the following areas:

(1) Certification, licensing, and registration of appraisers;

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

(2) Definition of terms;

(3) Uniform standards of professional appraisal practice;

(4) Application for and issuance of certificates;

(5) Examinations and examination procedures;

(6) Pre-certification education criteria and continuing education;

(7) Qualifications for and upgrading of a certificate;

(8) Transactions requiring certified, licensed, or registered appraisers;

(9) Renewal and late renewal procedures;

(10) Certificate by reciprocity;

(11) Temporary practice and permits;

(12) Grounds for disciplinary actions including denial, revocation, suspension, censure, and reprimand;

(13) Conflict of interest and investigation;

(14) Advertising by certified, licensed, or registered appraisers;

(15) Retention and inspection of records, and rosters of appraisers;

(16) Appraiser membership, competency, and independence;

(17) Review of appraisals and contracting for investigations;

(18) Inspection, examination, and photocopy of appraisal records for audit purposes;

(19) Inactive status;

(20) Exemptions and standards allowing appraisers to perform an evaluation for a federally insured depository institution;

(21) An appraiser experience training program under which licensees may obtain requisite experience hours; and

(22) Fees for participation in the appraiser experience training program.

Source: SL 1993, ch 293, § 2; SL 1995, ch 223, § 3; § 36-21A-117; SL 2004, ch 17, § 237; SL 2011, ch 1 (Ex. Ord. 11-1), § 162, eff. Apr. 12, 2011; SL 2020, ch 164, § 3; SL 2021, ch 168, § 34; SL 2021, ch 180, § 1.