Current through Register Vol. 49, No. 9, September, 2024
Section
I
- General (A) Creation,
Purpose
(1) The Arkansas
Appraiser Licensing and Certification Board, (Board), was created by the action
of the 78th General Assembly of the State of Arkansas during its regular
session of 1991 with the passage of Act 541, "The Arkansas Appraiser Licensing
and Certification Act 541" of 1991. (A.C.A.
17-14-201
as amended)
(2) The Arkansas
Appraiser Licensing and Certification Board's purpose in promulgating these
regulations is to implement the provisions of Act 541 of 1991, The Arkansas
Appraiser Licensing and Certification Act in a manner consistent with Title XI
of the Financial Institutions Reform, Recovery and Enforcement Act of 1989
(FIRREA), Title 12, United States Code, Sections
93, et seq. The Board is
authorized to promulgate such rules as may be necessary to insure compliance
with FIRREA and other applicable federal law.
(2) The Board shall hire a permanent staff to
conduct the daily business of the Board. The specific duties of the permanent
staff shall be determined by the Board. The staff shall consist in the first
year of the biennium beginning July 1, 1991, of an Executive Director and one
(1) Administrative Assistant. During the second year of the biennium one (1)
additional permanent position of Investigator shall be created. Qualifications
and salary levels for all permanent staff positions shall be determined by the
Board and vacant staff positions will be filled following proper notice and
advertising of the available positions with the State Employment Security
Division and in accordance with all other State statutes regarding the hiring
of public employees.
(3) The Board
shall hold regular meetings in accordance with Section
5 of Act 541 to consider and act
upon applications for certification and licensure, complaints regarding
licensees, and to transact other business as may come properly before
it.
(4) Requests for general
information, applications for examination and for certificates or licenses,
complaint forms or copies of regulations may be directed to the Arkansas
Appraiser Licensing and Certification Board.
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:
(1)
"Act 541" - The Arkansas Appraiser Licensing and Certification Act
of 1991, as amended, and codified as A.C.A.
17-14-101 et
seq..
(2)
"BOARD"- The
Arkansas Appraiser Licensing and Certification Board created under Act 541 of
1991.
(3)
"APPRAISER or REAL
ESTATE FEE APPRAISER" - Any person who, for a fee or valuable
consideration, develops and communicates a real estate appraisal or otherwise
gives an opinion of the value of real estate or any interest therein.
(4)
"INDEPENDENT APPRAISAL ASSIGNMENT"
- Any engagement for which an appraiser is employed, or retained to act
or to be perceived by third parties or the public as acting as a disinterested
third party in rendering an unbiased analysis, opinion, or evaluation, or
conclusions relating to the nature, quality, value, or utility or identified as
real estate or real property.
(5)
"STATE CERTIFIED APPRAISER" - Any individual who has satisfied the
requirements for State Certification in the State of Arkansas and who is
qualified to perform appraisals of real property types of any monetary size and
complexity. Within this category are included two (2) sub-classifications of
certification;
(a)
"State
Certified Residential Appraiser" which
applies to the
appraisal of one-to-four residential units without regard to transaction value
or complexity. (Note: This classification applies to the appraisal of
one-to-four residential units without regard to transaction value or complexity
based on the consensus of the Appraiser Qualifications Board of the Appraisal
Foundation. The Federal Financial Institutions Regulatory Agencies as well as
other agencies and regulatory bodies permit the Certified Residential
classification to appraise properties other than those specified by the
Appraiser Qualifications Board. All Certified Residential appraisers are bound
by the Competency Provision of the Uniform Standards of Professional Appraisal
Practice.)
(b)
"State
Certified General Appraiser"
which applies to the appraisal of
all types of real property. All Certified General real property appraisers are
bound by the Competency provision of the Uniform Standards of Professional
Appraisal Practice.
(6)
"STATE LICENSED APPRAISER"- Any individual who has satisfied the
requirements for State Licensing in the State of Arkansas and who is qualified
to perform appraisals of real property types up to a monetary size and
complexity as prescribed by the Appraisal Qualifications Board of the Appraisal
Foundations. (Note: This classification applies to the appraisal of non-complex
one-to-four residential units having a transaction value less than $1,000,000
and complex one-to-four residential units having a transaction value less than
$250,000 based on the consensus of the Appraiser Qualifications Board of the
Appraisal Foundation. The Federal Financial Institutions Regulatory Agencies as
well as other agencies and regulatory bodies permit the licensed classification
to appraise properties other than those specified by the Appraiser
Qualifications Board. All Licensed appraisers are bound by the Competency
Provision of the Uniform Standards of Professional Appraisal
Practice.)
(7)
"STATE
REGISTERED APPRAISER" - Any person who has satisfied the requirements
for registering as set forth in Section
17-14-307
of the Arkansas Appraiser Licensing and Certification Act or requirements as
may have been determined by the Board and who may perform appraisals on any
type of property except when the purpose of the appraisal is for use in
federally related transactions.
(8)
"COMPLEX 1-To-4 FAMILY RESIDENTIAL PROPERTY APPRAISAL" - One in
which the property to be appraised, the form of ownership, or market conditions
are atypical.
(9)
"OPEN
PUBLIC MEETINGS"- All meetings, formal or informal, special or regular
of the Arkansas Appraiser Licensing and Certification Board except those
classified as "Executive Sessions" under Act 541, Section
12. (a), the Arkansas Appraiser
Licensing and Certification Act and [Ark. Stat.
25-19-106,
Paragraphs (c)(1), (c)(2)(A) & (c)(2)(B), and (c)(4)], the Freedom of
Information Act.
(10)
"EXECUTIVE SESSIONS" - Those meetings of the Arkansas Appraiser
Licensing and Certification Board conducted for the purpose of disciplinary
hearings, to determine whether to levy civil penalties under this Act, and/or
for the purpose of determining whether to revoke or suspend any license or
certificate issued pursuant to Act 541 of 1991, and additionally, those
permitted under the Freedom of Information Act for the purpose of considering
employment, appointment, promotion, disciplining, or resignation of any public
officer or employee.
(11)
"TRANSACTION VALUE"- For the purposes of these regulations this
means:
(a) For loans or other extensions of
credit, the amount of the loan or extension of credit;
(b) For sales, leases, purchases, and
investments in or exchanges of real property, the market value of the real
property interest involved;
(c) For
the pooling of loans or interests in real property for resale or purchase, the
amount of the loan or market value of the real property calculated with respect
to each such loan or interest in real property;
(d) For condemnation appraisals the value
will be the total market value of the property before any acquisition of
property occurs;
(12)
"SUPERVISORY APPRAISER " - A State Certified Appraiser who, after
January 1, 2015, (1) formally agrees to supervise the work of a specific State
Registered Appraiser, (2) is recorded by the Board as a Supervisory Appraiser,
and (3) has successfully completed the four hour Supervisor/Trainee course
offered by the Arkansas Appraiser Licensing and Certification Board. Refer to
Section XI of the Rules and Regulations
for additional qualifications.
(13)
"TRAINEE APPRAISER" - Any State Registered Appraiser under the
supervision of a State Certified Appraiser and who has successfully completed
the four hour Supervisor/Trainee course offered by the Arkansas Appraiser
Licensing and Certification Board or other approved education provider.
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 sixty dollars ($60) (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, Deputy 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 registered, licensed or certified appraiser
against whom a complaint has been filed to be investigated. For a complaint to
be considered, the complainant shall file the complaint in writing at the
permanent address of the Board, directed to the Arkansas Appraiser Licensing
and Certification Board. 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 Executive Director, Chief Investigator, or
authorized employee of the Board, upon receiving any such complaint shall
present the complaint to a Board Committee or Panel to determine if the Board
has jurisdiction to proceed.
The Board may initiate its own complaint when sufficient
documents and information (i.e. appraisal reports, reviews and/or outlined
deficiencies) are available on which to conclude that the Uniform Standards,
the State law, and/or these Rules may have been violated.
If jurisdiction is established or the Board initiates its own
complaint, the Executive Director, or board staff, 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
appraiser under investigation and a copy of the appraiser's response 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.
The Executive Director, Chief Investigator, or authorized
employee, may proceed at any time after jurisdiction has been established, to
investigate said complaint and take statements from any person thought to have
any knowledge of any facts pertaining thereto. The Board may request the
registered, licensed, or certified appraiser 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.
Every properly filed complaint 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 ongoing disciplinary proceedings and investigations
shall not be disseminated by the Board or its staff to the public unless a
request has been made pursuant to the Arkansas Freedom of Information Act or
unless otherwise required by law. 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
appraisershall 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: A state
licensed/certified residential appraiser shall be limited to appraising a
"transaction value" (loan value) of no more than $250,000.
* Non-Federally Related Transactions: A state
licensed/certified residential appraiser shall be limited to a "property value"
of no more than $250,000.
A State Registered Appraiser may
perform appraisals on any type of property except (1) when the purpose of the
appraisal is for use in federal related transactions, or (2) The client
requires a State Licensed or Certified appraiser, and must include in all
appraisal reports a statement that the appraisal may not be eligible for use in
federally related transactions.
All appraisals and/or appraisal services performed by a state
registered appraiser shall be subject to the competency provision of the
Uniform Standards of Professional Appraisal Practice.
These restrictions shall not preclude any person who is
registered 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 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
certified appraisers as registered appraisers, employees, apprentices,
trainees, subcontractors, 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 appraisal services rendered
in federally related transactions must be performed or rendered by a person or
persons holding the appropriate license or certificate. All written appraisal
reports shall make a specific reference to any person(s) bear the signature(s)
and seal(s) of all properly registered, licensed or certified person(s) who
participated significantly in the performance of the appraisal or delivery of
appraisal services. All Registered, 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.
Registrations, License and certificate documents, pocket cards
and seals 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
registers the name(s) with the Board. If a registered, 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 registered,
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
registration, 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) National 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 national registry fee shall be collected by the
Arkansas Appraiser Licensing and Certification Board and submitted to the
Appraisal Subcommittee. The national registry fee collected by the Arkansas
Appraiser Licensing and Certification Board from non-resident appraisers shall
be an additional national 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 national registry fee.
Section I
- General (N)
Educational Crediting and Approval
1.
General
Requirements For Crediting Educational Offerings
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 approved by the Board for credit. The Board may 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 qualifying education 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.
Credit for the education requirement must be obtained from the
approved provider's course list that can be found on the Board's website. If a
course is taken that is not on that list, it may be submitted to the Board for
individual consideration by submitting the following:
(a) Completion Certificate
(b) A timed outline provided by the course
provider
(c) A course description
from the course provider
All Educational offerings for pre-licensing or certification
shall focus on those topics and subject matter outlined in the AQB's core
curriculum.
If a provider is requesting course approval for a 15 or 7 hour
USPAP course, at least one of the instructors must be a state certified
appraiser.
The educational offerings taken to satisfy the qualifying
education requirements must not be repetitive. USPAP courses taken in different
years are not considered repetitive.
2.
Pre-license and
Pre-certification Educational Offering Approval
Process
All Pre-license and Pre-certification educational offerings
offered in Arkansas will be reviewed by the Board or its designated advisory
panel. Approval by the Board shall occur only after compliance with the
following requirements has been established:
(a) The pre-license and pre-certification
educational offerings will be approved for credit only if the course content is
consistent with AQB's core curriculum.
(b) Each educational offering shall be
conducted and supervised by an instructor who shall be present in the classroom
during times of creditable classroom instruction, unless such approved offering
is provided in a non-conventional method. (i.e. Internet, CD-ROM, or other
electronic means.)
(c) All persons
or entities requesting approval from the Board for a pre-licensure or
pre-certification educational offering shall submit to the Board office a
completed "Education Course Approval Application" that can be found on the
Board's website and which should be accompanied by supporting documents. These
documents include, but are not limited to:
(i)
A timed outline allocating each heading and subtopic
(ii) Instructor resume(s)
(iii) All AQB and IDECC approval
certificates, if applicable.
(d) Pre-license
,
Pre-certification
, and continuing educational requirements
may be satisfied through the completion of Board approved correspondence
courses or other distance educational offerings.
*Distance education is defined as an educational process in which
instruction does not take place in a traditional classroom setting but rather
through other media (Non-conventional methods) in which teacher and student are
separated by distance and sometimes by time and the course provides
interaction.
Persons or entities seeking Board approval for a distance
educational offering shall submit a timed outline and description of the entire
course and provide documentation which demonstrates the course complies with
the following criteria:
i. That the
educational offering is presented by an approved or accredited college,
community or junior college or university that offers distance educational
programs and credit in other disciplines; or
ii. That the course has received approval for
college credit by an accrediting agency recognized by the US Secretary of
Education; or
iii. That approval of
the course design and delivery mechanism has been obtained from an AQB Approval
organization or an accredited college or university; and
iv. That the course teaches to the mastery of
the subject and at a minimum covers the following criteria.
A. Divides the material into major units as
approved by the board;
B. Divides
each of the major units of content into modules of instruction for delivery on
a computer or other approved interactive audio or audio visual
programs;
C. Divides the learning
objectives for each module of instructions. The learning objectives must be
comprehensive enough to insure that if all the objectives are met, the entire
content of the course will be mastered;
D. Specify an objective, quantitative
criterion for mastery used for each learning objective;
E. Provide a means of diagnostic assessment
of each student's performance on an ongoing basis during each module of
instruction;
F. Require the student
to demonstrate mastery of all material covered by the learning objectives for
the module before the module is completed;
G. That the course offering is designed in
such a way that the material is presented under an approved instructor who
shall be available to answer student questions or provide assistance on a
timely basis as necessary;
H. The
instructor will provide reasonable oversight of a student's work to ensure that
the student who completes the work is the student who enrolled in the
course;
v. The course
provider must provide documentation of an acceptable method that ensures that
the student achieves the classroom hourly equivalent as approved by the
Board;
vi. The provider must submit
certificates from the International Distance Education Certification Center
(IDECC) and the Appraisal Qualifications Board (AQB), if applicable. If the
IDECC certification expires prior to the Board's approval, the course will no
longer be accepted for credit until the provider can provide an updated
certification;
vii. For distance
education courses where an official cannot proctor classroom attendance, and an
exam is required, such an examination shall be proctored by an individual
approved pursuant to (e) and (f) below;
viii. And such other information as the Board
may require.
ix. Students are to
certify that they have personally completed each assigned module of
instruction.
(e)
Examination Proctors Qualifications
i. The
person shall not be related to the student by blood or marriage and may not be
engaged in any association (personal or business) with the student.
ii. The proctor may be selected from the
following professions:
a. A university,
college or community college professor or instructor.
b. A public and private school professional
(superintendent, principal, guidance counselor, librarian, etc.)
c. An AQB certified instructor or an approved
professional association's instructor.
iii. Proctor(s) shall be approved, in
advance, by the Arkansas Appraiser Licensing and Certification
Board.
(f) . Examination
Proctor Duties
i. Be satisfied that the
person taking the examination is the person registered for the course. This
should be verified with a picture ID and another identification document
(driver's license, student ID card,etc.).
ii. Be in the room while the student is
taking the exam or within line of sight of the student. Assure that the student
does all the work him/herself without aids of any kind including books, notes,
conversation with others or any other external resource. If the exam calls for
mathematical calculations, a non-programmable hand-held calculator may be
used.
iii. The proctor shall see
that the student adheres to the time limit requirement specified for the
examination. The examination must be completed in one sitting. If the
examination is interrupted for any reason, the examination can be re-started
only by notifying the Arkansas Appraiser Licensing Board that the examination
was interrupted, the reason for the interruption and the ALCB, or its designee,
must approve the request to resume.
iv. Upon completion of the examination, the
proctor shall submit a certificate indicating the verification of the identity
of the student, that the examination was completed on the date assigned during
the time permitted and that the student has done all the work him/herself
without aids of any kind including books, notes, conversation with others or
any other external resource while taking the examination, including access to
Internet search engines or web pages other than that displaying the
examination.
(g)
Approval by the Board is initially granted for a period of two years provided
no substantive changes in course content is made and approval may be extended
for another two years on written request by the provider. Failure to timely
request an extension will result in automatic termination of the educational
offerings approval status.
(h) The
Board may at its discretion adopt and implement various procedures for the
auditing of any offerings that have been accepted for qualifying and continuing
education approval by this agency.
3.
Educational
Provider Approval for Co-Sponsorship
An educational provider whose appraisal specific courses or
seminars as well as instructors which have been pre-approved the Arkansas
Appraiser Licensing and Certification Board for credit toward meeting
Qualifying Education or Continuing Education may petition the Board's
co-sponsorship of such in-state offerings. This endorsement by the Board may
permit the educational provider to conduct the co-sponsored program under the
oversight of the Appraiser Licensing Board in lieu of the Board of Private
Career Education.
In order for a course or seminar to be co-sponsored by the Board,
the provider must:
(1) Award
completion certificates to all students meeting the course criteria;
(2) Retain all course outlines and records of
attendance for at least three years;
(3) Adopt and provide to the Board a copy of
an administrative policy regarding student attendance and attendance
records;
(4) Adopt and provide to
the Board a copy of an administrative policy regarding refunds and
cancellations of a scheduled offering by the provider.
The failure to comply with any of the foregoing provisions or
stated policies may result in the Board's refusal to co-sponsor future courses
or seminars offered by the educational provider.
Section I
- General (O) Uniform Standards of Professional Appraisal
Practice
The Arkansas Appraiser Licensing and Certification Board adopts
the "Uniform Standards of Professional Appraisal Practice" (USPAP) as published
and amended by the Appraisal Foundation for 2014-2015. This adoption shall
include all parts of the USPAP including the introductory sections for the
purpose of judging those applicants, registrant, 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 registration, license or certification of
any registered, licensee or certificate holder and/or issue a fine up to the
amount of $1,000 per violation occurrence for:
1. Violation of any provision of the Arkansas
Appraiser Licensing and Certification Act 541 of 1991 as amended or any of
these regulations;
2. Falsifying
any application for licensure or certification or otherwise providing any false
information to the Board;
3.
Conviction in any jurisdiction of any misdemeanor involving moral turpitude or
of any felony. A plea of nolo contendere or no contest shall be considered a
conviction for the purposes of this section.
4. Any actions demonstrating
un-trustworthiness, incompetence, dishonesty, gross negligence, material
misrepresentation, fraud or unethical conduct in any dealings subject to the
Act or these regulations;
5.
Adjudication of insanity;
6. Use of
advertising or solicitation which is false, misleading, or is otherwise deemed
unprofessional by the Board;
7.
Employing directly or indirectly any unregistered or unlicensed person to
perform any actions subject to the Act or these regulations;
8. Habitual or excessive use of intoxicants
or illegal drugs;
9. Failure to
meet continuing education requirements within the proper time period.
10. Continuing, after January 1, 2010, to
perform appraisal services for an appraisal management company client who is
not registered pursuant to Subchapter IV of the A.C.A.
17-14-401
et seq.
Section I
- General (Q) Complaint Adjudication and Publication of
Action
A. Any appraiser
who fails to timely renew their registration, license, certification or elects
to surrender their license/certification while a complaint is pending, will be
unable to have their license re-instated until the complaint has been resolved.
A failure to renew or petition for reinstatement within twelve (12) months of
expiration and/or the date a credential is surrendered will result in a new
application that meets current AQB criteria and a retake of the exam. If a
disciplinary hearing or informal conference is pending at the time of
surrender, the scheduled hearings will proceed with or without the appraiser's
participation and any disciplinary action resulting from the hearing shall be
placed in the appraiser's file and addressed prior to any reinstatement of
their credentials. Appraisers who have their license suspended or revoked are
prohibited from performing any and all duties and responsibilities (researching
data, and/or assisting associates with the development and reporting of real
property appraisals).
B. In those
instances where this Board suspends, revokes, or a license or certification is
surrendered during an investigation or while formal charges are pending, notice
of such action shall be published in the Board's newsletter, the Arkansas
Bankers Association and the Mortgage Bankers Association of Arkansas
periodicals, and any other appropriate publications, which will communicate
such actions taken against an appraiser's license.
Section I
General (R)
Declaratory Orders
A. A
declaratory order is a means of resolving a controversy or answering questions
or doubts concerning the applicability of statutory provisions, rules, or
orders over which the agency has authority. A petition for declaratory order
may be used only to resolve questions or doubts as to how the statutes, rules,
or orders may apply to the petitioner's particular circumstances. A declaratory
order is not the appropriate means for determining the conduct of another
person or for obtaining a policy statement of general applicability from an
agency. A petition or declaratory order must describe the potential impact of
statutes, rules, or orders upon the petitioner's interests.
B. The process to obtain a declaratory order
is begun by filing with the Arkansas Appraiser Licensing & Certification
Board a petition that provides the following information:
1. The caption shall read: Petition for
Declaratory Order Before the Arkansas Appraiser Licensing and Certification
Board.
2. The name, address,
telephone number, and facsimile number of the petitioner.
3. The name, address, telephone number, and
facsimile number of the attorney of the petitioner.
4. The statutory provision(s) agency rule(s),
or agency order(s) on which the declaratory order is sought.
5. A description of how the statutes, rules,
or orders may substantially affect the petitioner and the petitioner's
particular set of circumstances, and the questions or issue on which petitioner
seeks a declaratory order.
6. The
signature of the petitioner or petitioner's attorney.
7. The date.
8. Request for a hearing, if
desired.
C. The agency
may hold a hearing to consider a petition for declaratory statement. If a
hearing is held, it shall be conducted in accordance with A.C.A. {
25-15-208
and }
25-15-213, and
the agency's rules for adjudicatory hearings.
D. The agency may rely on the statements of
fact set out in the petition without taking any position with regard to the
validity of the facts. Within ninety (90) days of the filing of the petition,
the agency will render a final order denying the petition or issuing a
declaratory order.
Section
II
- General Qualifications for Registration,
Licensure or Certification
The Board shall approve and issue registrations, licenses and
certificates to qualified applicants or disapprove applications for
registration, licensing and certification for applicants who do not meet the
minimum requirements for registering, licensing or certification as prescribed
in Act 541. The best interest of the public shall be given due regard when
considering each applicant for registration, licensing or certification.
Every applicant to the Arkansas Appraiser Licensing and
Certification Board as a State Registered appraiser, State Licensed appraiser
or State Certified appraiser shall have the following qualifications:
A. The applicant shall have a good reputation
for honesty, truthfulness, and fair dealing, and be competent to transact the
business of a registered, licensed or certified appraiser in such a manner as
to safeguard the interests of the public.
B. The applicant shall meet the current
educational and experience requirements for licensing or certification prior to
the time he or she applies to sit for the licensing or certification exam.
1. Prior to applying to become a State
Registered Appraiser, the applicant must meet the requirements of Section
VI(A)(2).
C. A
non-resident applicant shall be in good standing as an appraiser in every
jurisdiction where licensed; the applicant shall not have had a license which
was suspended, revoked, or surrendered in connection with a disciplinary action
or which has been the subject of discipline in any jurisdiction prior to
applying for licensure or certification in Arkansas.
D. The applicant shall not have been
convicted, found guilty or pled guilty, regardless of adjudication, in any
jurisdiction of a misdemeanor involving moral turpitude or of any felony. Any
plea of nolo contendere shall be considered a conviction for the purposes of
this paragraph. The record of a conviction authenticated in such form as to be
admissible in evidence under the laws of the jurisdiction where convicted shall
be admissible as prima facie evidence of such conviction.
E. The applicant shall be at least 18 years
old and shall have received a high school diploma or its equivalent.
F. Applicants who do not meet all of the
foregoing requirements and qualifications may nevertheless be approved for
registration, licensure or certification by resolution of the Board.
G. All applications for registration,
licensing, certification, renewal, examination, or reinstatement shall be made
on forms provided by the Board and completed and signed by the applicant, with
the signature acknowledged before a notary public. All applications shall
include the appropriate fees. The Board will not consider an application which
is incomplete or with which the correct fees have not been submitted.
H. The Board may require each applicant for a
license to furnish, at his/her expense, a recent passport type photograph of
him/herself, as well as any other information or form of identification deemed
necessary by the Board to determine the applicant's qualifications for
licensing or certification.
I. The
Board reserves the right, at its discretion, to hold for a reasonable length of
time for investigation, the application of any applicant before issuing a
license or certificate.
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:
A.
Examination
1. Applicants for State License shall be
personally interviewed by representatives of the Appraiser Licensing Board
prior to being granted an approval to sit for the exam.
2. An applicant shall successfully complete
the Appraiser Qualifications Board endorsed Uniform State Licensing Examination
or its equivalent as administered by a Board approved testing
company.
3. The applicant, within
twelve months prior to the awarding of a license for a licensed real estate
appraiser, shall have passed a written examination provided by the Board or by
a testing service acting on behalf of the Board. The examination shall at all
times be an Appraisal Foundation - Appraiser Qualifications Board endorsed
Uniform State Licensing Examination or its equivalent. Applications reflecting
satisfaction of all prerequisites must be received by the Board no less than 60
days prior to the date of the examination.
4. An applicant for State License who fails
to pass the exam after two (2) or more attempts will not be afforded an
opportunity to retake the exam for at least six (6) months from date of last
exam. Applicants seeking to sit for the fourth attempt are required to submit a
new application, and any required fees, and any additional education they may
have acquired
B.
Appraisal Education (Prerequisite to sit
for the examination)
1. All candidates for
State License shall have successfully completed and submitted to the Board a
minimum of 150 hours of qualifying education that is in conformity with the AQB
core curriculum. The 15 hour USPAP course included in these hours must be an
AQB equivalent and taught by an AQB certified instructor who is also a state
certified appraiser.
2. State
Registered appraisers who have satisfied the Board's initial requirement of
completing the 15 hour National USPAP course need only to document completion
of the 7 hour USPAP Update course within the two years preceding their sitting
for the exam.
(a) There is no time limit
regarding when qualifying education credit must have been obtained except as
noted in Section
III B-1.
(b) Qualifying education hours will only be
credited for pre-approved course offerings whose content follows the AQB
required core curriculum.
3. In addition, the applicant must have
earned 30 semester credit hours of college level education from an accredited
college, junior college or community college OR an Associate's degree or higher
(in any field).
C.
Experience (Prerequisite to sit for the
examination)
1. The applicant for State
Licensing shall demonstrate the equivalent of at least (as a minimum) two
thousand (2000) hours of appraisal experience, obtained in no less than twelve
(12) months, of a nature that is satisfactory to the Arkansas Appraiser
Licensing and Certification Board. The experience of the applicant must be of a
type and nature sufficient to convince the Board of a demonstrated and proven
capability of the applicant to adequately perform assignments of a type
permitted by licensure. 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 on the application of any
applicant.
2. Acceptable experience
may include a limited number hours related to necessary and fundamental tasks,
such as records research, measurements and certain aspects of property
inspections. But to be satisfactory, the experience of the applicant must
clearly demonstrate a progression in exposure, charge, responsibility and
successful performance of those comprehensive tasks related to real property
appraisal practice, to include, but not limited to appraisal development and
reporting, and should involve all aspects of the valuation process.
3. The burden of proving the amount and
validity of experience claimed is entirely the responsibility of the applicant.
As a minimum, the applicant must be prepared to substantiate, on request by the
Board, the experience claimed with a true copy of appraisal assignment reports,
work files to support the nature or the experience claims, and true copies of
time records or calendars which support actual work time associated with the
assignments.
4. An hour of
experience is defined as verifiable time spent in performing tasks in
accordance with acceptable appraisal experience which includes, but is not
limited to, the following:
(a) Fee and staff
appraisal
(b) Ad valorem tax
appraisal
(c) Technical Review
appraisal
(d) Appraisal
analysis
(e) Real estate
counseling
(f) Highest and best use
analysis
(g) Feasibility
analysis/study
(h) Condemnation
Appraisal
5. Appraisal
Reviews may be awarded experience credit when the appraiser performs technical
review(s) of appraisals prepared by either employees, associates or others,
provided the appraisal report was not signed by the review appraiser. Appraisal
review credit should only be awarded when reviews are in compliance with USPAP
Standard 3.
6. Appraisals made
without the benefit of a client or under the guidance of Board approved
practicum based courses shall not constitute more than 25% of the total
required hours of experience.
7. At
least 50% of the total required hours of appraisal experience claimed shall be
reported in an Appraisal Report format.
8. No more than 50% of appraisal experience
claimed shall be for appraisal reviews in compliance with USPAP Standard 3 and
Restricted Appraisal Reports combined. This 50% limit also includes the 25%
limit in number 6 above.
9. Credit
toward the licensing prerequisite may be awarded for hours of residential
appraisal experience for other types of real property. 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.
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:
A.
Examination
1. Applicants for State Certified Residential
shall be personally interviewed by representatives of the Arkansas Appraiser
Licensing Board prior to sitting for the exam unless previously interviewed on
a residential appraisal.
2. An
applicant shall successfully complete the Appraiser Qualifications Board
endorsed Uniform State Licensing Examination or its equivalent as administered
by a Board approved testing company.
3. The applicant, within twelve months prior
to the awarding of a certification for a State certified residential appraiser,
shall have passed a written examination provided by the Board or by a testing
service acting on behalf of the Board. The examination shall at all times be an
Appraisal Foundation - Appraiser Qualifications Board endorsed Uniform State
Licensing/Certification Examination or its equivalent. Applications reflecting
satisfaction of all prerequisites must be received by the Board no less than 60
days prior to the date of the examination.
4. An applicant for State Certified
Residential who fails to pass the exam after two (2) or more attempts will not
be afforded an opportunity retake the exam for at least six (6) months from
date of last exam. Applicants seeking to sit for the fourth attempt are
required to submit a new application, any required fees, and any
additional education they may have acquired.
B.
Appraisal
Education (Prerequisite to sit for the examination)
1. All candidates for Certified Residential
classification shall have successfully completed a minimum of 200 classroom
hours of qualifying education that is in conformity with the AQB core
curriculum. The 15 hour USPAP courses included among these hours must be an AQB
equivalent course and taught by an AQB certified instructor who is also a
certified appraiser.
Applicants who have completed the 15-hour National USPAP course
need only to document completion of the 7 hr. National USPAP Update within the
two (2) years preceding their sitting for the exam.
(a) There is no time limit regarding when
qualifying education credit must have been obtained except as noted in Section
IV(B)
(1).
(b) In addition, the applicant
must hold a Bachelor's degree or higher (in any field) from an accredited
college or university.
C.
Upgrade (State License to Certified
Residential)1. Any currently State
Licensed appraiser who wishes to upgrade to Certified Residential
classification must satisfy the additional educational requirements by
completing the following approved coursework.
|
Statistics, Modeling and Finance
|
15 hours
|
|
Advanced Residential Applications and Case Studies
|
15 hours
|
|
Appraisal Subject Matter Electives
|
20 hours
|
|
TOTAL:
|
50 hours
|
D.
Experience (Prerequisite to
sit for the examination)
1. The applicant for
certification as a State Certified Residential Appraiser shall demonstrate the
equivalent of at least (as a minimum) two thousand five hundred (2500) hours of
appraisal experience of a nature that is satisfactory to the Arkansas Appraiser
Licensing and Certification Board and obtained during no fewer than 24 months.
The experience of the applicant must be of a type and nature sufficient to
convince the Board of a demonstrated and proven capability of the applicant to
adequately perform assignments of a type permitted by licensure. 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.
2. Acceptable experience may include a
limited number hours related to necessary and fundamental tasks, such as
records research, measurements and certain aspects of property inspections. But
to be satisfactory, the experience of the applicant must clearly demonstrate a
progression in exposure, charge, responsibility and successful performance of
those comprehensive tasks related to real property appraisal practice, to
include, but not limited to appraisal development and reporting, and should
involve all aspects of the valuation process.
3. The burden of proving the amount and
validity of experience claimed is entirely the responsibility of the applicant.
As a minimum, the applicant must be prepared to substantiate, on request by the
Board, the experience claimed with a true copy of appraisal assignment reports,
work files to support the nature or the experience claims, and true copies of
time records or calendars which support actual work time associated with the
assignments.
4. An hour of
experience is defined as verifiable time spent in performing tasks in
accordance with acceptable appraisal experience which includes, but is not
limited to, the following:
(a) Fee and staff
appraisal
(b) Ad valorem tax
appraisal
(c) Technical Review
appraisal
(d) Appraisal
analysis
(e) Real estate
counseling
(f) Highest and best use
analysis
(g) Feasibility
analysis/study
(h) Condemnation
appraisal
5. Appraisal
Reviews may be awarded experience credit when the appraiser performs technical
review(s) of appraisals prepared by either employees, associates or others,
provided the appraisal report was not signed by the review appraiser. Appraisal
Review credit should only be awarded when reviews are in compliance with USPAP
Standard 3.
6. Appraisals made
without the benefit of a client or under the guidance of Board approved
practicum based courses shall not constitute more than 25% of the total
required hours of experience.
7. At
least 50% of the total required hours of appraisal experience claimed shall be
reported in an Appraisal Report format.
8. No more than 50% of appraisal experience
claimed shall be for appraisal reviews in compliance with USPAP Standard 3 and
Restricted Appraisal Reports combined. This 50% limit also includes the 25%
limit in number 6 above.
9. 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.
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:
A.
Examination
1. Applicant for State Certified General
Appraiser shall be personally interviewed by representative's members of the
Arkansas Appraiser Licensing Board prior to sitting for the exam, unless
previously interviewed on a non-residential property appraisal report which
included all three approaches to value.
2. An applicant shall successfully complete
the Appraiser Qualifications Board endorsed Uniform State Certification
Examination or its equivalent as administered by a Board approved testing
company.
3. The applicant, within
twelve months prior to the awarding of a certification for a State certified
general real property appraiser, shall have passed a written examination
provided by the Board or by a testing service acting on behalf of the Board.
The examination shall, at all times, be an Appraisal Foundation - Appraiser
Qualifications Board endorsed Uniform State Certification Examination or its
equivalent. Applications reflecting satisfaction of all prerequisites must be
received by the Board no less than 60 days prior to the date of the
examination.
4. An applicant for
State Certified General who fails to pass the exam after two (2) or more
attempts will not be afforded an opportunity to retake the exam for at least
six (6) months from date of last exam. Applicants seeking to sit for the fourth
attempt are required to submit a new application any required fees, and any
additional education they may have acquired.
B.
Appraisal Education
(Prerequisite to sit for the examination)
1.
All candidates for Certified General classification shall have successfully
completed a minimum of three hundred (300) classroom hours of qualifying
education that is in conformity with the AQB core curriculum. A 15 hour USPAP
courses included in these hours must be an AQB equivalent course and taught by
an AQB certified instructor who is also a certified appraiser. The 300 hours
may include the one hundred fifty (150) classroom hour requirement for State
Licensed classification or the two hundred (200) classroom hour requirement for
the Certified Residential classification.
Applicants who have completed the 15-hour National USPAP course
need only to document completion of the 7 hr. National USPAP Update within the
two (2) years preceding their sitting for the exam.
(a) There is no time limit regarding when
qualifying education credit must have been obtained.
(b) In addition, the applicant must hold a
Bachelor's degree or higher (in any field) from an accredited college or
university.
C.
Upgrade
(a) Any currently State Licensed appraiser
who wishes to upgrade to Certified General classification must satisfy the
additional educational requirements by completing the following approved
coursework.
|
General Appraiser Market Analysis and Highest and Best
Use
|
15 hours
|
|
Statistics, Modeling and Finance
|
15 hours
|
|
General Appraiser Sales Comparison Approach
|
15 hours
|
|
General Appraiser Site Valuation and Cost Approach
|
15 hours
|
|
General Appraiser Income Approach
|
45 hours
|
|
General Appraiser Report Writing and Case Studies
|
15 hours
|
|
Appraisal Subject Matter Electives
|
30 hours
|
|
TOTAL:
|
150 hours
|
(b) Any
currently State Certified Residential appraiser who wishes to upgrade to
Certified General classification must satisfy the additional educational
requirements by completing the following approved coursework and documenting
compliance with B.2 of this section.
|
General Appraiser Market Analysis and Highest and Best
Use
|
15 hours
|
|
General Appraiser Sales Comparison Approach
|
15 hours
|
|
General Appraiser Site Valuation and Cost Approach
|
15 hours
|
|
General Appraiser Income Approach
|
45 hours
|
|
General Appraiser Report Writing and Case Studies
|
10 hours
|
|
TOTAL:
|
100 hours
|
D.
Experience (Prerequisite to
sit for the examination)
1. The applicant for
certification as a State Certified General appraiser shall demonstrate the
equivalent of 3,000hours of appraisal experience obtained during no fewer than
30 months, (2 1/2 years) of a nature that is satisfactory to the Arkansas
Appraiser Licensing and Certification Board. The applicant, for experience
credit, must have accumulated a total of three thousand hours of appraisal
experience of which at least one thousand five hundred hours (1,500) must be in
non-residential appraisal work. The experience of the applicant must be of a
type and nature sufficient to convince the Board of a demonstrated and proven
capability of the applicant to adequately perform assignments of a type
permitted by licensure. 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 certification.
2. Acceptable
experience may include a limited number of hours related to necessary and
fundamental tasks, such as records research, measurements and certain aspects
of property inspections. But to be satisfactory, the experience of the
applicant must clearly demonstrate a progression in exposure, charge,
responsibility and successful performance of those comprehensive tasks related
to real property appraisal practice, to include, but not limited to appraisal
development and reporting, and should involve all aspects of the valuation
process.
3. The burden of proving
the amount and validity of experience claimed is entirely the responsibility of
the applicant. As a minimum, the applicant must be prepared to substantiate, on
request by the Board, the experience claimed with a true copy of appraisal
assignment reports, work files to support the nature or the experience claims,
and true copies of time records or calendars which support actual work time
associated with the assignments.
4.
An hour of experience is defined as verifiable time spent in performing tasks
in accordance with acceptable
appraisal experience which includes, but is not limited to, the
following:
(a) Fee and staff
appraisal
(b) Ad valorem tax
appraisal
(c) Technical Review
appraisal
(d) Appraisal
analysis
(e) Real estate
counseling
(f) Highest and best use
analysis
(g) Feasibility
analysis/study
(h) Condemnation
appraisals
5. Appraisal
Reviews may be awarded experience credit when the appraiser performs technical
review(s) of appraisals prepared by either employees, associates or others,
provided the appraisal report was not signed by the review appraiser. Appraisal
review credit should only be awarded when reviews are in compliance with USPAP
Standard 3.
6. Appraisals made
without the benefit of a client or under the guidance of Board approved
practicum based courses shall not constitute more than 25% of the total
required hours of experience.
7. At
least 75% of the total required hours of appraisal experience claimed shall be
reported in an Appraisal Report format.
8. No more than 25% of appraisal experience
claimed shall be for appraisal reviews in compliance with USPAP Standard 3 and
Restricted Appraisal Reports combined. This 25% limit also includes the 25%
limit in number 6 above.
9. 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.
Section
VI
- Pre-Registration Criteria and
Pre-Application Filing of Experience
In order to qualify as a State Registered Appraiser, an applicant
must complete an application and provide in addition:
A.
(1) A
signed affidavit, (as prescribed by the Board), attesting to having read and an
understanding of the current edition of the Uniform Standards of Professional
Appraisal Practice, the applicable State Laws and the Rules and Regulations
governing appraisal practice in Arkansas.
(2) As the prerequisite for application, an
applicant must have completed 75 creditable hours of qualifying education as
specified by the Appraisal Qualifications Board (AQB). Applicants must pass the
course examinations and pass the 15-Hour National USPAP Course (or its
AQB-approved equivalent) and examination as part of the 75 creditable hours.
All qualifying education must be completed within the five (5) year period
prior to the date of submission of a Trainee (State Registered) Appraiser
application.
(3) Both the Trainee
Appraiser (State Registered) and the Supervisory Appraiser shall complete an
approved four-hour course that, at minimum, complies with the specifications
for a trainee/supervisor course content as established by the Appraiser
Qualifications Board (AQB) and the Arkansas Appraiser Licensing and
Certification Board (Board). The purpose of the course is to orient and prepare
both the Trainee and the Supervisory Appraiser with respect to their
obligations and responsibilities during the entire period of trainee
supervision.
(a) The course must be completed
by the Trainee Appraiser prior to obtaining a State Registered credential, and
completed by the Supervisory Appraiser prior to supervising a Trainee (State
Registered) Appraiser.
(b) A
Supervisory Appraiser must retake the course every four (4) years to maintain
eligibility to supervise.
B.
(1)
State Registered appraisers-in-training are required to submit to the Board for
review, a copy of their experience log upon accumulating 500 hours of
experience. Appraisal work included in an experience log shall not begin to
accumulate or be claimed until an applicant has been designated as a State
Registered Appraiser.
(2) On
logging an additional 1,000 hours, the trainee shall submit to the Board a copy
of their experience log along with an exact copy of a recently completed work
product for review.
(3)
Appraisers-in-training (SR) who fail to timely comply with a pre-application
filing of their experience logs and work product will, upon initially filing an
application to sit for the exam, have their application deemed incomplete and
the Board shall initiate a complaint against the State Registered appraiser and
his/her supervisor.
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, licensed, or certified
in advance of initiating the appraisal assignment as a non-resident appraiser.
Only non-resident licensed or certified appraisers may apply for Reciprocity or
a Temporary Practice Permit.
Non-Resident appraisers applying for state registered appraiser
status shall, in addition to meeting the same requirements and utilizing the
same forms as those required for Arkansas residents, include a notarized
Consent For Service of Legal Process affidavit.
Section VIII
-
Non-Resident LicensureN & Certification viaTemporary orPermit
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.
In an effort to expedite the processing of a Temporary Practice
permit, these forms may be obtained from the Board's web site or from the web
site of the Association of Appraiser Regulatory Officials.
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. In lieu of a home state Letter of Good Standing, the Board may
accept the applicant's licensing history as found on the Appraisal
Subcommittee's Federal Registry of licensed appraisers.
B. The term of a temporary nonresident
license or certification shall extend for the duration of the particular
appraisal assignment or service being performed but in any case shall not
extend for more than six (6) months from the date of the initial date of
issuance of the temporary nonresident license or certification. Court testimony
following the completion of an assignment performed by a nonresident appraiser
holding a temporary nonresident license or certificate shall not require an
extension or issuance of a temporary nonresident license or certificate.
Appraisers holding a valid Temporary Practice Permit may, upon making a written
request and providing additional assignment details to the Board, be granted an
extension of no more than six months from the permit's date of expiration.
C. These provisions shall not
preclude a person who is a nonresident of this State from obtaining a permanent
licens or certificate by reciprocity or by satisfying all prerequisite
requirements as if they were a resident of the State as required in these
regulations, and provided further that the nonresident applicant executes 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. The Board may request, for review,
samples of work products prior to awarding a reciprocal license or
certification.
D. The term of a
non-resident license or certificate holder shall be for no more than twelve
months and renewal may be accomplished by submitting evidence of the completion
of 14 hours of continuing education plus a Letter of Good Standing from
resident's state appraisal agency and the appropriate fees as may be in
effect.
E. Non-Resident licensed
and certified appraisers may seek resident status in Arkansas upon providing
the Board with a completed application and a Letter of Good Standing from their
resident State Agency. The Arkansas Appraiser Licensing & Certification
Board may request, for review, samples of work products prior to the awarding
of resident standing. Appraisers desiring to transfer to Arkansas from another
jurisdiction will not be required to retake the examination.
Section IX
Licensure Expiration, Renewal, Upgrade, and Inactive
Status
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A. Each license or
certificate issued and each license or certificate renewal shall expire on June
30th each year following the date of issuance. State registered appraisers'
certificates of registration will expire on December 31 of each calendar year.
The expiration date of a license or certificate shall appear on the pocket card
accompanying each license or certificate. No other notice of this expiration
need be given to its holder except as provided in the requirements for
continuing education.
B. Each
application for renewal of a registration, license or certificate shall be
accompanied by evidence on forms prescribed by the Board of the applicant
having completed the continuing education requirement for renewal as prescribed
in these regulations. Each application for renewal shall also be accompanied by
an appropriate fee. The Board may mail to each licensee or certificate holder,
at least sixty (60) days prior to the expiration date of each renewal year, a
notice of the expiration and application for renewal of the registration,
license or certificate to the licensee's or certificate holders address on file
with the Board. The Board may issue a new registration, license or certificate
for each renewal application only after including proof of completion of the
continuing education requirements pursuant to these regulations and only after
receipt of the appropriate fee. Delinquent renewal applications must be
accompanied by a delinquent fee of fifty dollars ($50) per month or partial
month elapsed since the expiration date. Any registrant, licensee or
certificate holder who fails to complete continuing education requirements will
not be eligible for registration, license or certificate renewal.
C. Failure of a registrant, licensee or
certificate holder to receive the notice and application to renew from the
Board shall not excuse the registrant, licensee or certificate holder from the
requirements for renewal contained in these regulations. Any registrant,
licensee or certificate holder who fails to renew within twelve (12) months of
the expiration of their registration, license or certificate must re-apply and
where appropriate, take and pass an examination equivalent that required for
pre-licensing as designated by the Board in order to show current knowledge of
real property appraisal practices, techniques and procedures before the license
or certificate may be renewed.
In regards to the foregoing B. & C., Unless notice of intent
to place a license/certification on inactive status or intent to not renew
(including State Registered) is received prior to expiration, the monthly
penalties will continue for a maximum of twelve (12) months or until notice is
received. After a one (1) year hiatus, the State Registered appraiser will be
required to submit a new application, satisfy any deficiencies that may have
been outstanding at the time registrant failed to renew or notify the Board,
plus a maximum penalty of $600.
D. A licensed or certified Arkansas appraiser
who wishes to temporarily retire from appraisal practice shall notify the Board
in writing at least 30 days before expiration of a current license or
certification. A state registered appraiser will not be permitted to place
their registration on inactive or retired status.
E.
INACTIVE
STATUS
may be initiated by the payment of $100 fee on or
before June 30th and may
NOT
be continued for more than six (6)
years. The failure to remit the applicable annual renewal fee of $100 on or
before June 30th will result in a lapsed license. To
reinstate an appraiser's lapsed inactive license, the monthly delinquent fee
will be applicable for a maximum of twelve (12) months. 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
applicant's license or certificate.
The application for re-instatement shall be accompanied with
sufficient documentation that the appraiser has taken, prior to reinstatement,
a minimum of fourteen (14) hours for each year of inactivity (the equivalent
that would have been required if the license was on active status) in refresher
courses PLUS any continuing education hours 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 most recent 7 hour National
USPAP Update course during the preceding year in addition to other continuing
education requirements.
Section X
- Continuing
Education
A. The purpose
of continuing education is to insure that the appraiser participates in a
program that maintains and increases his/her skill, knowledge and competency in
real estate appraising.
B. 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. 2006, 2008, 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.
C. In subsequent years, the state registered
appraiser shall as a condition for renewal, have completed fourteen (14) hours
per year of Board approved continuing education.
For purposes of these regulations:
(1) A classroom hour is defined as fifty
minutes out of each sixty-minute segment.
(2) Credit toward the education requirement
may be granted only where the length of the educational offering is at least
two (2) hours.
(3) Credit for the
education requirement may be obtained from the following:
(a) Colleges or Universities
(b) Community, Junior of Technical
Colleges
(c) Real Estate Appraisal
or Real Estate Related Organizations
(d) State or Federal Agencies or
Commissions
(e) Proprietary
Schools
(f) Other providers
approved by the State Appraiser Licensing and Certification Board
(g) The Appraisal Foundation or its
Board
(4) Credit may be
granted for educational offerings which are consistent with the purpose of
continuing education stated above and cover real estate related appraisal
topics such as those listed below.
(a) Ad
Valorem Taxation
(b) Arbitration,
dispute resolution
(c) Courses
related to practice of real estate appraisal or consulting
(d) Development Cost Estimating
(e) Ethics and Standards of Professional
Practice USPAP
(f) Land use
planning, zoning and taxation
(g)
Management, leasing, timesharing
(h) Property development, partial
interest
(i) Real estate law,
easements and legal interests
(j)
Real estate litigation, damages and condemnation
(k) Real estate financing and
investment
(l) Real estate
appraisal related computer applications
(m) Real estate securities and
syndication
(n) Practical
interpretation
E. An educational offering taught by an AQB
certified instructor, of at least seven (7) hours covering the National Uniform
Standards of Professional Appraisal Practice or its equivalent
must be attended by each State Registered, Licensed or
Certified appraiser during a two-year continuing education renewal cycle.
Licensed and Certified appraisers may no longer take the 15 hour course in lieu
of the 7 hour USPAP Update.
F.
Continuing education credit may also be granted for participation, other than
as a student, in appraisal educational processes and programs. Examples of
activities for which credit may be granted are teaching, program development,
authorship of textbooks, or similar activities which are determined to be
equivalent to obtaining continuing education. No more than 50% of an
individual's continuing education may be credited to these activities and
credit for instructing any given course/seminar can only be awarded once during
a continuing education cycle.
G. In
the event a credential is issued for a period of less than 185 days, there will
not be continuing education required for that partial year. However, a
registered, licensed or certification issued for more than 185 days will be
required to accumulate the equivalent of 14 hours per year prior to
renewal.
Section XI
- Supervisory Guidelines and
Responsibilities
These guidelines set forth the Arkansas Appraiser Licensing
Board's Regulations regarding the supervisor/trainee relationship at the State
Registered appraiser level.
The State Registered appraiser is required by Arkansas law and/or
Administrative Rule to be supervised by a Certified appraiser when the
appraisal assignment is for federally related transactions. If the assignment
is a non-federally related transaction, a supervisor is not required.
A. The supervising appraiser shall at all
times be in good standing with the Arkansas Appraiser Licensing and
Certification Board and be responsible for the training and direct supervision
of the trainee by:
1. The supervising
appraiser shall personally inspect, with the trainee/State Registered
appraiser, each subject property and comparable sales until the Supervisor
determines that the appraiser competent to perform such appraisals;
2. The supervisor shall accept responsibility
for the appraisal report by signing and certifying that the report is in
compliance with the Uniform Standards of Professional Appraisal
Practice;
3. The supervisor shall
review the trainee's appraisal reports and periodically sign and date the
appraisal log maintained by the trainee. A trainee shall maintain a log for
each supervising appraiser;
4. A
supervising appraiser shall be State Certified by the Board prior to assuming
supervision of a trainee and must be competent to perform the property type of
appraisals being supervised;
5.
Supervisory Appraiser shall be state certified and in good standing for a
period of at least three (3) years in the jurisdiction in which the Trainee
Appraiser practices. Supervisory Appraisers shall not have been subject to any
disciplinary actions in any jurisdiction within the last three (3) years that
affects the Supervisory Appraiser's legal eligibility to engage in appraisal
practice. A Supervisory Appraiser subject to a disciplinary action would be
considered to be in good standing three (3) years after successful
completion/termination of the sanction imposed against the appraiser.
Supervisory Appraisers shall have been state certified for a minimum of three
(3) years prior to being eligible to become a Supervisory Appraiser.
6. The Supervisory Appraiser shall be limited
to supervising no more than three (3) registered Trainee Appraisers at any one
time;
7. A supervisor of Trainee
Appraisers shall have a complaint filed against him/her if the Trainee
Appraiser fails to timely comply with a pre-application filing of their
experience logs and work product.
Section XII
- Fees and
Payment of Fees
A.
Types 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:
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1. Application Fee
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$125.00
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2. State Licensed, Certified
Residential, and Certified General Appraiser
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$300.00 (Annual)*
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3. Temporary Non-Resident Licensed,
Certified Residential, and Certified General
Appraiser
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$150.00 (6 Months)
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4. Non-Resident Licensed, Certified Residential, and
Certified General Appraiser
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$300.00 (Annual)*
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5. Delinquent Fees (All
Classifications)
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$ 50.00 (Monthly)
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6. Re-issuance Fees (Upgrade, Replacement of
Lost, Stolen, or Destroyed
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$ 25.00
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Licenses or Certificates)
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7. Pre-License/Certification Course or Seminar Approval
Fee
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$ 100.00 (Per Offering)
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8. Continuing Education Course or Seminar Approval
Fee
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$ 100.00 (Per Offering)
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9. Photocopies of Records of the Board
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$ 00.05 (Per Page)
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10. National Registry Fee (Set By Appraisal
Subcommittee)
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$ 40.00 (Annual)
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11. Testing Service Fee (Paid Directly To The
Service)
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$100.00 (Maximum)
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12. Application Fee (State Registered Appraiser)
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$200.00*
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13. Renewal Fee (State Registered Appraiser)
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$200.00*
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14. Renewal of Continuing and Pre-License (Qualifying)
Education
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$ 50.00
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*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.
B.
Payment of Application, Renewal and Upgrade Fees
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. The testing fee shall
be payable directly to the testing service designated by the Board upon
rescheduling the exam. (See instructions for testing.)
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 initial application fee is acceptable for the first
three attempts at passing the examination. Upon successful completion of the
examination, the application fee will be applied toward the appropriate license
or certification fee.
A State Registered appraiser who successfully upgrades to State
License or certification may credit part of their previously paid annual
registration fees toward the applicable classifications' annual fees.
C.
Delinquency Provision
(Fees and Continuing Education)
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:
(1) No FRT appraisal work may be performed
during the interim;
(2) Their names
will be removed from the Federal Registry; and,
(3) The appraisal community be apprised of
their loss of registration or licensed status.
(4) Any and all appraisal experience claimed
by a trainee during a period(s) without being State Registered will not be
considered toward meeting the minimum hourly requirements or in which a State
Registered appraiser has a lapsed registration.
If an appraiser has not made application for reinstatement within
sixty days of termination, a demand will then be made on the certificate holder
to surrender their seal or stamp, pocket card, and wall certificate, to the
Board office. Previously Licensed and certified appraisers 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.
