Arkansas Administrative Code
Agency 151 - Arkansas Appraiser Licensing and Certification Board
Rule 151.00.01-003 - Revisions to the Appraiser Licensing and Certification Board Rules and Regulations
Current through Register Vol. 49, No. 2, February 2024
Section I - General (A) Creation, Purpose
Section I - General (B) Definitions
The following words and terms, when used in these regulations, unless a different meaning is provided or is plainly required by the context, shall have the following meanings:
For the purposes of these regulations this means:
Section I - General (C)Board Compensation and Expense Reimbursement
Each member of the Arkansas Appraiser Licensing and Certification Board shall receive a per diem allowance of fifty dollars ($50) (or as amended by Legislative Act) as compensation for each meeting of the Board at which the member is present and for each day or substantial part thereof actually spent in the conduct of the business of the Board, plus all appropriate expenses as approved by the Board. Appropriate expenses are the reimbursable expenses a member of the Board necessarily incurs in the discharge of his/her official duties. Requests for compensation or reimbursement of appropriate expenses shall not be processed for payment unless sufficient funds are available for that purpose within the appropriations for this Board.
Section I - General (D) Action of the Board
Any adjudicatory or rule making action taken by the Board pursuant to Act 541 of 1991 or these regulations shall first be in compliance with the Administrative Procedure Act, A.C.A. 25-15-201 et seq., and may be performed by a number of the Board's members or by those officers, employees, agents or representatives of the Board as is permitted by law and authorized by a majority of the Board's membership. The Board may take action by a mail ballot or by a conference telephone call and any such action so taken shall be conducted in the presence of an administrative secretary and a record of such actions and meetings shall be recorded in the minutes of the Board. All meetings of the Board or subcommittees of the Board shall be open public meetings as defined herein except as provided herein for "Executive Sessions" in Section I General (B)(7).
The Executive Director, Administrative Assistant, and the Investigator are prohibited from engaging in any act for which a certificate or a license is required under the provisions of Act 541 or receive or become entitled to receive any fee or compensation of any kind in any capacity whatsoever, either directly or indirectly, in connection with any real estate appraisal transaction. Practicing appraiser members of the Board are excluded from this prohibition as are contracted investigators or other contracted experts who may be employed by the Board from time-to-time.
The Board may conduct disciplinary proceedings from time-to-time and may cause the actions of a licensee or certificate holder against whom a complaint has been registered to be investigated. For a complaint to be properly registered, the complainant shall file the complaint in writing at the permanent address of the Board, directed to the Executive Director of the Arkansas Appraiser Licensing and Certification Board.
Any and all complaints within the jurisdiction of the Board must be in writing, dated, and signed by the complainant, and filed with the Board office. The Executive Director, or authorized employees of the Board, upon receiving any such complaint, may proceed to investigate said complaint and take statements from any person thought to have any knowledge of any facts pertaining thereto. The written complaint shall specifically state the issues of the complaint, and the date(s) on which the events causing or leading to the complaint occurred. The Board, at its discretion may request the licensee or certificate holder under investigation to answer the charges made against him/her in writing and to produce relevant documentary evidence and may request him/her to appear before it. The Executive Director shall notify in writing every person complained against, and provide that person an opportunity to respond in writing. A copy of the written complaint shall be furnished to the licensee under investigation and a copy of any written answer of the licensee or certificate holder shall be furnished to the complainant. Appraisers failing to respond in writing within thirty (30) days of receipt of the complaint will be deemed unresponsive and the complaint will be further considered without the benefit of the appraiser's input. Every complaint in which the Board determines a reasonable violation of the Arkansas Appraiser Licensing and Certification Act or these Regulations has occurred shall be presented to and reasonably disposed of by the Board. The Board may subpoena and issue subpoena duces tecum and bring before it any person in this State or licensed by the Board, and take testimony by deposition, in the same manner as prescribed by law in judicial proceedings in the courts of this State, or require production of any records relevant to any inquiry or hearing by the Board. Records of disciplinary proceedings and investigations shall not be open to the public for inspection at any time. Disciplinary hearings shall be conducted according to the Arkansas Administrative Procedures Act, A.C.A. Sec. 25-15-201 et seq.
Section I - General (E) Records of the Board
All public records of the Arkansas Appraiser Licensing and Certification Board shall be open for inspection and copying at the office of the Board by any member of the general public during normal business hours (8:00 a.m. to 4:30 p.m. Monday through Friday, except holidays) except for those records exempt under Act 541 of 1991 and under these regulations. All public meetings of the Arkansas Appraiser Licensing and Certification Board will be open to any member of the public.
The Executive Director of the Board shall be established as the custodian of the Records of the Board. The Executive Director shall be responsible for the maintenance of the Board's records and shall also be responsible for access to public records.
Individuals may inspect and copy public records pursuant to the procedures set forth in the Arkansas Freedom of Information Act, A.C.A. 25-19-101 et.seq. and shall pay an appropriate fee or fees as shall be set by the Board.
Section I - General (F) Restrictions on Appraisal Practice/Services
A State Licensed Appraiser may perform appraisals of non-complex one (1) to four (4) residential units having a transaction value of less than $1,000,000 or such other transaction value levels as shall be set by the Federal Financial Institutions Regulatory Agencies and of complex one (1) to four (4) residential units having a transaction value of less than $250,000 or such other transaction value levels as shall be set by the Federal Financial Institutions Regulatory Agencies. In addition, a State Licensed Appraiser may perform appraisals of all other properties of a non-complex character with transaction values up to levels set by the Federal Financial Institutions Regulatory Agencies subject to the Competency Provisions of the Uniform Standards of Professional Appraisal Practice. *
A State Certified Residential Appraiser may perform appraisals of all properties that a State Licensed Appraiser may appraise and also all one (1) to four (4) residential units without regard to transaction value or complexity. All appraisals and/or appraisal services performed by a State Certified Residential Appraiser shall be subject to the Competency Provisions of the Uniform Standards of Professional Appraisal Practice.*
A State Certified General appraiser shall have no transaction value limits or complexity restrictions on his/her appraisal practice subject only to the Competency Provisions of the Uniform Standards of Professional Appraisal Practice.
* State Licensed and Certified Residential appraisers performing appraisals on non-residential (i.e. commercial, farms, timberland, etc.) property types shall comply with the following limitations.
Federally Related Transactions: An appraiser shall be limited to appraising a "transaction value" (loan value) of no more than $250,000.
Non-Federally Related Transactions: An appraiser shall be limited to a "property value" of no more than $250,000.
A State Registered Appraiser (unlike state licensed, state certified residential, and state general appraisers) is not permitted to perform a particular appraisal assignment for federal related transaction purposes and must include in all appraisal reports, a statement that the appraisal may not be for use in a federal related transaction. The registered appraiser shall not perform appraisal services outside his or her completency as indicated by experience and education.
No language in any regulation shall authorize an unqualified appraiser to appraise property that the Federal Financial Institutions Regulatory Agencies deem the appraiser unqualified to appraise or that the appraiser should not appraise without compliance with the competency provisions of the Uniform Standards of Professional Appraisal Practice. These restrictions shall not preclude any person who is not licensed or certified from participating in the performance of appraisals or providing of appraisal services in federally related transactions provided that the participation is under the supervision of a State Licensed Appraiser, a State Certified Residential Appraiser or a State Certified General Appraiser. The intent of this provision is to allow persons to participate in the performance of appraisals or providing of appraisal services under the supervision of properly licensed or certified appraisers as employees, apprentices, trainees, sub-contractors, co-signers, research assistants, or other capacities related to the production of appraisal reports or the delivery of appraisal services without being licensed or certified. All appraisals performed or appraisal services rendered in federally related transactions must be performed or rendered by a person or persons holding the appropriate license or certificate and all written reports shall bear the signature(s) and seal(s) of all properly licensed or certified person(s) who participated significantly in the performance of the appraisal or delivery of appraisal services. All Licensed or Certified appraisers signing an appraisal report or other document representing the delivery of appraisal services shall assume full joint and several responsibility and liability for the compliance of the appraisal performed or the appraisal service rendered with respect to compliance with the Uniform Standards of Professional Appraisal Practice.
Section I - General (G) Licensure and Certification
If upon passing the required appropriate examination, an applicant is found by the Board to be otherwise qualified, the Board shall issue to the applicant, a real estate appraiser license or a real estate appraiser certificate indicating residential or general status.
Section I - General (H) Denial of License or Certificate
An applicant denied a license or certificate shall be notified in writing by the Board of such denial and the reasons therefore. Such applicant may request an informal conference with the Board to reconsider such denial at its next scheduled meeting. Such requests must be sent to the board office within thirty (30) days of the date of the notice of denial.
Denial of a license or certificate is not an administrative adjudication as provided for under the Arkansas Administrative Procedures Act.
Section I - General (I) Appraiser Seal
Each registered, licensed and certified appraiser, at his/her own expense, shall secure, upon authorization by the Board, a seal, or rubber stamp, the form of which shall be approved by the Board.
In addition to the personal seal or rubber stamp, the licensee shall also affix his/her signature , at the minimum, to the signature page(s) of the original estimates, reports and other documents or instruments which were prepared by him/her or were prepared under his/her direction.
Section I - General (J) Form and Content
The Board shall issue to each registered, licensee or certificate holder a license or certificate as applicable, in a form as shall be prescribed by the Board. The license and/or certificate shall show the name of the registered, licensee or certificate holder and a license or certificate number assigned by the Board.
Each license and/or certificate shall have imprinted on it the state seal and in addition shall contain other matters as shall be prescribed by the Board.
License and certificate documents, application and renewal materials and pocket cards shall remain the property of the state and upon any suspension, revocation or a denial of a license or certificate, the individual holding the related license or certificate document and pocket card shall return them to the Board within ten (10) days of notification by the Board and shall cease to use seals or stamps immediately upon receipt of notice.
Section I - General (K) Individual Licenses, Certificates, Business Names, Pocket Cards
A registered, licensee or certificate holder shall not conduct his/her business under any other name or at any other address than the one for which his/her individual license or certificate is issued unless he/she first register the name(s) with the Board.
If a licensee or certificate holder changes his/her name or business address, he/she shall notify the Board in writing within thirty (30) days after the change becomes effective.
In addition to the individual license or certificate to be issued to each qualified individual, the Board shall furnish to each individual a pocket card, which shall certify that the person whose name appears on the pocket card is a state registered appraiser, state licensed appraiser, a state certified residential appraiser, or a state certified general appraiser, and indicate any current restrictions of that licensees practice. Each licensee or certificate holder shall carry his/her pocket card upon his/her person at all times when conducting any real estate appraisal related activity and shall exhibit it upon demand.
Section I - General (L) Replacement License or Certificate
A registered, license or certificate holder may, by filing a written request and paying an appropriate fee to the Board, obtain a duplicate registered, license or certificate which has been lost, damaged or destroyed or if the name of the licensee or certificate holder has been lawfully changed.
Section I - General (M) Federal Appraiser Registry
The Board shall submit to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council all names of individuals who are qualified as licensees or certificate holders in the state of Arkansas, both resident and non-resident, provided the individuals have paid to the Board the appropriate registry fee established for that purpose by the Appraisal Subcommittee or any other appropriate federal agency or instrumentality. If a non-resident appraiser is licensed or certified on a non-temporary basis in another state, and chooses to be licensed or certified in Arkansas on a non-temporary basis, the federal registry fee shall be collected by the Arkansas Appraiser Licensing and Certification Board and submitted to the Appraisal Subcommittee. The federal registry fee collected by the Arkansas Appraiser Licensing and Certification Board from non-resident appraisers shall be an additional federal registry fee to that which is collected from the other state(s) where the appraiser may be licensed or certified on a non-temporary basis.An appraiser holding the classification of "State Registered" will not be assessed a federal registry fee.
Section I - General (N) Educational Offerings and Approval
The Board may recommend all course offerings for pre-licensure and pre-certification as well as for continuing education. The approval process shall apply to course content, facilities, text and other materials utilized in the offering and instructors. The Board may, at its sole discretion employ the services of an advisory education panel for the purpose of reviewing educational offerings for quality, content, and qualifications of instructors. No educational offering, course or program for pre-licensure or certification credit or for continuing education credit will be announced or advertised unless it is recommended by the Board for credit. The Board will recognize any educational offering recommended or approved by the Appraiser Qualification Board of the Appraisal Foundation.
Time requirements for the purpose of all educational offerings shall provide that a classroom hour means sixty (60) minutes, at least fifty (50) minutes of which shall be devoted to actual classroom instruction and no more than ten (10) minutes of which shall be devoted to a non-instructional activity.
Credit toward the classroom hour requirement for all classes of licensing or certification may only be granted where the length of the educational offering is at least fifteen (15) hours and the individual successfully completes an examination pertinent to that educational offering. The examination requirement may be waived for seminars approved for continuing education. Each credit hour obtained from an approved college and/or university shall count as fifteen (15) classroom hours of education.
Credit for the classroom hour requirement may be obtained from the following, provided they are recognized by the Board.
Various educational offerings may be credited toward the classroom hour education requirements for the various classifications of licensing or certification established in these regulations. Educational offerings should focus on the topics listed below with emphasis on specific property types depending on the classification of licensure or certification for which the offering is being presented.
(a) Influences on Real Estate Value |
(k) Site Value |
(b) Legal Considerations in Appraisal Approach |
(l) Cost |
(c) Types of Value Income Approach |
(m) |
(d) Economic Principles Gross Rent Multiplier analysis |
- |
(e) Real Estate Markets and Analysis Estimation of Income and Expenses |
- |
(f) Valuation Process Operating Expense Ratios |
- |
(g) Property Description Capitalization Methods |
- |
(h) Highest and Best Use Analysis of Partial Interests |
(n) Valuation |
(i) Appraisal Statistical Concepts Appraisal Standards and Ethics |
(o) |
(j) Sales Comparison Approach |
The Board recognizes that there may be other appraisal related topics that may be offered for continuing education that are beyond the scope of the list of topics cited above. Such educational offerings shall be recognized for continuing education credits at the discretion of the Board. All educational offerings for pre-licensure or certification shall focus on the topics listed above only. The Board may, at its sole discretion, accept a course of instruction designed to fulfill the educational requirements for licensure or certification without the prior approval of the course.
Section I - General (O) Uniform Standards of Professional Appraisal Practice
The Arkansas Appraiser Licensing and Certification Board adopts by reference the "Uniform Standards of Professional Appraisal Practice" (USPAP) as published and amended by the Appraisal Foundation from time to time. This adoption by reference shall include all parts of the USPAP including the introductory sections for the purpose of judging those applicants, licensees and certificate holders with respect to the appropriateness of their conduct and activities as appraisers in the State of Arkansas
Section I - General (P) Grounds for Disciplinary Action
The Board may, upon its own motion or upon written complaint of any person, and after notice and hearing as prescribed by the Administrative Procedures Act, suspend or revoke the license or certification of any licensee or certificate holder and/or issue a fine up to the amount of $1,000 per violation occurrence for :
Section II -General Qualifications for Licensure or Certification
The Board shall approve and issue licenses and certificates to qualified applicants or disapprove applications for licensing and certification for applicants who do not meet the minimum requirements for licensing or certification as prescribed in Act 541. The best interest of the public shall be given due regard when considering each applicant for licensing or certification.
Every applicant to the Arkansas Appraiser Licensing and Certification Board as a State Licensed appraiser or State Certified appraiser shall have the following qualifications:
Section III -Pre-Licensure Qualifications for State Licensed Appraiser
An applicant for a license as a State Licensed Appraiser shall meet the following requirements in addition to those set forth in Section II of these regulations:
Applicants may be required to demonstrate that their education involved coverage of all topics listed below with particular emphasis on the appraisal of one (1) to four (4) unit residential properties.
If requested by the Board, experience documentation in the form of reports or file memoranda should be available to support the experience claimed. The initial verification for experience credit claimed by an applicant shall be on forms prescribed by the Board. The Board reserves the right, at its discretion, to hold for a reasonable length of time for investigation of the amount of experience claimed, the application of any applicant who has not been previously licensed before accepting the amount of experience claimed by the applicant as satisfying the experience prerequisite for licensing.
Cumulative is defined as meaning that experience may be acquired over any time period. There is no minimum number of hours which must be acquired in any one year.
The following is an example of cumulative experience:
Year 1 |
200 |
Hours |
Year 2 |
800 |
Hours |
Year 3 |
100 |
Hours |
Year 4 |
400 |
Hours |
Year 5 |
500 |
Hours |
Total |
2000 |
Hours |
The following examples of typical hourly credit will serve as a guide toward crediting the applicant for the experience prerequisite for licensing: Review appraisal credit should only be awarded when reviews are in compliance with USPAP Standard 3.
Property Type Hours
Single Family Residential (One Unit Dwelling) |
8 |
Multi-Family Residential (Two-To-Four Units) |
15 |
Residential Vacant Land Less Than 10 Acres |
5 |
Residential Vacant Land From 10 To 250 Acres |
15 |
Residential Vacant Land Over 250 Acres |
30 |
Individual Residential Subdivision Sites (Per Site) |
5 |
(Not To Exceed 50 Hours) |
Credit toward the licensing prerequisite may be awarded for hours of residential appraisal experience for other types of real property not listed. The Board will on an individual basis, determine the amount of credit to be awarded for such appraisals based on the information provided by the applicant.
While the foregoing time guidelines provide a pattern for the awarding of the experience prerequisite for licensing, the Board recognizes that variations of these times may occur in individual assignments. The Board, at its discretion, may award credit where the time allocated to a particular assignment exceeds the typical provided the applicant submits in writing with his/her application an explanation of the reason(s) for the extended amount of time in the assignment in question.
Section IV - Pre-Certification Qualifications for State Certified Residential Appraiser
An applicant for certification as a State Certified Residential Appraiser shall meet the following requirements in addition to those set forth in Section II of these regulations:
Related Organizations
There is no time limit as to when experience may be obtained. All experience claimed after January 1, 1991 shall be in compliance with the Uniform Standards of Professional Appraisal Practice.
Cumulative is defined as meaning that experience may be acquired over any time period. There is no minimum number of hours which must be acquired in any one year.
The following is an example of cumulative experience:
Year 1 |
200 Hours |
Year 2 |
800 Hours |
Year 3 |
100 Hours |
Year 4 |
400 Hours |
Year 5 |
1000 Hours |
Total |
2500 Hours |
The following examples of typical hourly credit will serve as a guide toward crediting the applicant for the experience prerequisite for licensing:
Hours |
Property Type |
Single Family Residential (One Unit Dwelling) |
8 |
Multi-Family Residential (Two-To-Four Units) |
15 |
Residential Vacant Land Less Than 10 Acres |
5 |
Residential Vacant Land From 10 To 250 Acres |
15 |
Residential Vacant Land Over 250 Acres |
30 |
5 |
Individual Residential Subdivision Sites (Per Site) |
(Not To Exceed 50 Hours) |
Credit toward the certification prerequisite may be awarded for hours of residential appraisal experience for other types of real property not listed. The Board will on an individual basis, determine the amount of credit to be awarded for such appraisals based on the information provided by the applicant.
While the foregoing time guidelines provide a pattern for the awarding of the experience prerequisite for certification, the Board recognizes that variations of these times may occur in individual assignments. The Board, at is discretion, may award credit where the time allocated to a particular assignment exceeds the typical provided the applicant submits in writing with his/her application an explanation of the reason(s) for the extended amount of time in the assignment in question.
Section V -Pre-Certification Qualifications for State Certified General Appraiser An applicant for a certification as a State Certified General Appraiser shall meet the following requirements in addition to those set forth in Section II of these regulations:
Cumulative is defined as meaning that experience may be acquired over any time period. There is no minimum number of hours which must be acquired in any one year.
The following is an example of cumulative experience:
Year 1 |
200 Hours |
Year 2 |
800 Hours |
Year 3 |
500 Hours |
Year 4 |
700 Hours |
Year 5 |
800 Hours |
Total |
3000 Hours |
The following examples of typical hourly credit will serve as a guide toward crediting the applicant for the experience prerequisite for certification:
Property Type |
Hours |
Land: |
20 |
Undeveloped nonresidential tracts, residential multi-family sites, commercial sites, industrial sites, land in transition, etc |
|
Rural/Agricultural: 10 to 250 Acres |
20 |
250 to 1,000 Acres with improvements |
30 |
Over 1,000 Acres with improvements |
40 |
Note: An additional 20 hours credit will be awarded for specialty property. "Specialty" refers to agricultural income-producing operations such as orchards, dairies, minerals, granary, livestock, hog barns, etc.
Residential Multi-Family (5-12 Units): Apartments, condominiums, townhouses, and mobile home parks, Etc. |
35 |
Residential Multi-Family (13+ Units): Apartments, condominiums, townhouses, and mobile home parks, Etc. (Add 10 Hours for proposed project projections.) |
50 |
Commercial Single-Tenant: Office Building, Retail Store, Restaurant, Service Station, Bank, Day-Care Center, Etc. |
35 |
Commercial Multi-Tenant: Office Building, Shopping Center, Hotel, Etc. |
60 |
Industrial: 50 Warehouse, Manufacturing Plant, Etc. |
|
Institutional: Nursing Home, Hospital, School, Church, Government Building, Etc. |
50 |
Credit toward the certification prerequisite may be awarded for hours of certified general appraisal experience for other types of real property not listed. The Board will on an individual basis, determine the amount of credit to be awarded for such appraisals based on the information provided by the applicant.
While the foregoing time guidelines provide a pattern for the awarding of the experience prerequisite for certification, the Board recognizes that variations of these times may occur in individual assignments. The Board, at is discretion, may award credit where the time allocated to a particular assignment exceeds the typical provided the applicant submits in writing with his/her application an explanation of the reason(s) for the extended amount of time in the assignment in question.
Section VI - Minimum Qualifying Requirements for "State Registered Appraiser"
In order to qualify as a "State Registered Appraiser", an applicant must :
Section VII - Non-Resident Registration and/or Licensing: Reciprocity A non-resident appraiser planning to develop an appraisal assignment in Arkansas for a federally related transaction must first apply for a state license and/or certification. In the case of a non-federally related transaction, the appraiser shall apply to be registered or licensed in advance of initiating the appraisal assignment. Only non-resident licensed or certified appraisers may apply for reciprocity or a Temproary Practice Permit.
Non-Resident appraisers applying for state registered appraiser status shall meet the same requirements and utilize the same forms as those required for Arkansas residents.
Section VIII - Nonresident Licensure & Certification via Temporary Permit or Reciprocity A Temporary Licensure or Certification may be obtained by nonresidents of this State through recognition of another state's program of licensing and certification in accordance with A.C.A. 17-14-306. Temporary Licensure or Certification may be accomplished by submitting an application on forms prescribed by the Board for temporary
Licensing or Certification. These forms shall be signed before a notary public and shall include an irrevocable consent that service of process upon him or her may be made by delivery of the process to the Secretary of State if,
in an action against the applicant in a court of this State arising out of the applicant's activities as a State Licensed appraiser or State Certified appraiser, the plaintiff cannot effect personal service upon the applicant. These forms shall be submitted to the Board along with the required fee.
The Board may issue a temporary nonresident license or certificate to an individual who is licensed or certified in his/her state of domicile, upon receipt of the required forms and provided further that the Board is furnished a letter from the licensing and certification authority of the applicant's state of domicile, that his/her license or certificate is in good standing.
Appraisers holding a valid Temporary Practice Permit may, upon making written request to the Board, be granted an extension of no more than six months from the permit's date of expiration.
Section IX - Licensure Expiration, Renewal, Inactive Status
INACTIVE STATUS may be initiated by the payment of $100 annually and may NOT be continued for more than six (6) years. The failure to remit the annual fee on or before June 30 will result in placing the licensee in a lapsed position. The appraiser who elects Inactive Status must, within six (6) years from the date the active license or certification expired, notify the Board of his/her desire to resume active practice. Otherwise, the license becomes null and void.
An appraiser who wishes re-instatement after an inactive period shall make application to the Arkansas Appraiser Licensing and Certification Board. The application will be reviewed by the Board and if the applicant for re-instatement has satisfied all requirements, the Board shall re-activate the applicants license or certificate.
The application for re-instatement shall be accompanied with sufficient documentation that the appraiser has taken, in the preceding year before re-instatement, a minimum of fourteen (14) clock hours in refresher courses PLUS any continuing education units which were delinquent before the Inactive Status. Also, any appraiser who has been inactive for more than three (3) years must show evidence of having taken the USPAP course during the preceding year in addition to other continuing education requirements.
The retired appraiser will retain their original license or certification number assigned by the Board. If the appraiser should decide to resume active practice, he/she must comply with all requirements involving re-instatement, continuing education, refresher courses, time limitations, etc. in effect for INACTIVE STATUS.
Appraisers in a Retired Status may not engage in real estate appraisal activities and under no circumstances shall he/she sign an appraisal report as the appraiser or review appraiser. Retirees under this provision may NOT be appointed to one of the positions on the Board reserved for practicing appraisers.
The Inactive/Retired appraiser shall pay on annual file maintenance fee of $25 on or before June 30 or forfeit their retired status.
(The annual fee includes a subscription to The APPRAISER.)
Section X - Continuing Education
Each licensee or certificate holder shall have completed during the two year period, prior to renewal of their license or certification, in an even numbered year, (i.e. 2002, 2004, etc.) a minimum of twenty-eight (28) hours of real estate appraisal instruction approved for continuing education credit by the Board. Failure to provide the Board with evidence of hours completed shall constitute grounds for not renewing a license or certificate.
Individuals who take advantage of out of state continuing education seminars may request consideration for credit on an individual basis. They shall submit a request on forms provided by the Board along with documents outlining the course content and evidence of having attended the course.
The equivalent of fourteen (14) classroom hours of instruction in courses or seminars for each year during the period preceding the renewal is required. Hours completed in excess of the fourteen hours required during each license or certificate renewal period may be carried forward to satisfy requirements for the next renewal period.
For purposes of these regulations:
Section XI - Fees And Payment Of Fees
The following fees shall be paid for pre-licensure and pre-certification applications and for the issuance of original and renewal licenses and certificates and for other purposes and activities of the Board:
1. Application Fee |
$125.00 |
2. State Licensed, Certified Residential, and Certified General Appraiser (Annual)* |
$300.00 |
3. Temporary Non-Resident Licensed, Certified Residential, and Certified General Appraiser (6 Months) |
$150.00 |
4. Non-Resident Licensed, Certified Residential, and Certified General Appraiser (Annual)* |
$300.00 |
5. Delinquent Fees (All Classifications) (Monthly) |
$ 50.00 |
6. Reissuance Fees (Upgrade,Replacement of Lost,Stolen,or Destroyed Licenses or Certificates) |
$25.00 |
7. Pre-License/Certification Course or Seminar Approval Fee (Per Offering) |
$ 50.00 |
8. Continuing Education Course or Seminar Approval Fee (Per Offering) |
$ 50.00 |
9. Photocopies of Records of the Board (Per Page) |
$ .25 |
10. Federal Registry Fee (Set By Appraisal Subcommittee) (Annual) |
$ 25.00 |
11. Testing Service Fee (Paid Directly To The Service) (Maximum) |
$100.00 |
12. Certified Copy of Records of the Board (Per Page) |
$ 1.00 |
13. Newsletter Subscription |
$ 10.00 |
14. Application Fee (State Registered Appraiser) |
$ 50.00* |
15. Renewal Fee (State Registered Appraiser) |
$ 50.00 * |
*Pursuant to A.C.A. 17-14-203(10), registration and licensing fees may be reviewed and adjusted annually by the
Board as deemed necessary for its effective operation but shall in no way exceed $300 annually.
All fees shall be paid in cash or by cashier's check, money order or personal check made payable to the Arkansas Appraiser Licensing and Certification Board except for the Testing Service Fee. This fee shall be payable by cashier's check or money order only and shall be payable directly to the testing service designated by the Board as its agent.
All fees are non-refundable except in special circumstances when a refund petition has been submitted to the Board and the Board consents to the request. No license or certification fee of any classification or any portion of a fee will be refunded should any certificate or license be surrendered, suspended or revoked during the term for which the license or certificate is issued. The Application Fee is payable once for the first two attempts at passing the examination with successive attempts requiring a new application fee. Upon successful completion of the appropriate examination, the application fee will be applied toward the appropriate license or certification fee.
Registered, Licensed or Certified appraisers who fail to pay their annual or biennial renewal fees or meet the required continuing education on or before the renewal deadline, shall be notified immediately that their registration, license or certificate has lapsed and they have thirty (30) days to become reinstated by payment of the appropriate fees and penalties and/or evidence of having met the CE requirements. The notice shall also advise where applicable that:
Licensed and certified appraisers holders who fail to apply for reinstatement within the grace period may apply within twelve months of expiration without retaking the examination provided they submit the appropriate fees and penalties and satisfy any additional requirements that may be assessed by the Board.