Michigan Laws 338.2238 – State licensed real estate appraiser, certified general real estate appraiser, certified residential real estate appraiser, or limited real estate appraiser; fees; inclusion of federal fee; creat
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Terms Used In Michigan Laws 338.2238
- Department: means the department of licensing and regulatory affairs. See Michigan Laws 338.2202
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Occupational code: means 1980 PA 299, MCL 339. See Michigan Laws 338.2202
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) Fees for an individual licensed or seeking licensure as a state licensed real estate appraiser, a certified general real estate appraiser, a certified residential real estate appraiser, or a limited real estate appraiser under article 26 of the occupational code, MCL 339.2601 to 339.2637, are as follows:
| (a) Application processing fees: | ||
| (i) Certified general real estate appraiser as follows: | ||
| (A) If paid after September 30, 2027…………. | $ | 25.00 |
| (B) Beginning October 1, 2003 through September 30, 2027…………………………………………… | 35.00 | |
| (ii) Certified residential real estate appraiser as follows: | ||
| (A) If paid after September 30, 2027…………. | 25.00 | |
| (B) Beginning October 1, 2003 through September 30, 2027…………………………………………… | 35.00 | |
| (iii) State licensed real estate appraiser as follows: | ||
| (A) If paid after September 30, 2027…………. | 25.00 | |
| (B) Beginning October 1, 2003 through September 30, 2027…………………………………………… | 35.00 | |
| (iv) Limited real estate appraiser as follows: | ||
| (A) If paid after September 30, 2027…………. | 25.00 | |
| (B) Beginning October 1, 2003 through September 30, 2027…………………………………………… | 35.00 | |
| (b) Examination fees: | ||
| (i) Certified general real estate appraiser……….. | 100.00 | |
| (ii) Certified residential real estate appraiser…… | 100.00 | |
| (iii) State licensed real estate appraiser…………. | 100.00 | |
| (c) License fee, per year: | ||
| (i) Certified general real estate appraiser……….. | 175.00 | |
| (ii) Certified residential real estate appraiser…… | 175.00 | |
| (iii) State licensed real estate appraiser…………. | 175.00 | |
| (iv) Limited real estate appraiser……………….. | 125.00 | |
| (d) Temporary permit fee……………………….. | 125.00 |
(2) The license fee includes a fee imposed by the federal government under 12 USC 3338 for certified general real estate appraisers, certified residential real estate appraisers, and state licensed real estate appraisers. The amount of the fee described in this subsection must not exceed $50.00 per licensee, and the department shall collect and pay the fee to the federal government under section 2637 of the occupational code, MCL 339.2637.
(3) The real estate appraiser education fund is created in the state treasury. All of the following apply to the real estate appraiser education fund:
(a) Ten dollars of each fee received under subsection (1)(c) must be forwarded to the state treasurer for deposit into the real estate appraiser education fund.
(b) The department shall use the money in the real estate appraiser education fund only for the operation of departmental programs related to the education required of all licensees or applicants for licensure under article 26 of the occupational code, MCL 339.2601 to 339.2637.
(c) The state treasurer shall direct the investment of the fund and shall credit to the fund interest and earnings from fund investments.
(d) Money in the fund at the close of the fiscal year remains in the fund and does not lapse to the general fund.
(e) The department is the administrator of the fund for auditing purposes.