(1) A
State-licensed or State-certified Real Estate Appraiser and an Appraisal
Trainee shall renew his or her license or certificate every two
years.
(2) Each applicant shall
submit to the Board a completed renewal application, the proper fee, and proof
that he or she has fulfilled the continuing education requirements set forth in
264 CMR 4.01, at least 30 days prior to the license expiration date.
(3) The Board may amend and/or supplement the
continuing education requirements of
264 CMR 4.00 in order to
comply with the minimum criteria mandated by the AQB in accordance with federal
law
12 U.S.C.
3345(a) to allow Licensees
to meet the federal requirements for "state certified real estate appraisers".
In the event that the continuing education requirements do not meet the minimum
criteria established by the said AQB, then the AQB criteria shall supersede and
control.
(4)
Continuing
Education Prerequisite. To be eligible for renewal of a license or
certificate, the Licensee or certificate holder must complete and present
evidence satisfactory to the Board that he or she has completed the continuing
education required for the corresponding level of licensure during each two
year renewal period. The initial license or certificate issued to a holder may
be valid for two through three years in accordance with M.G.L. c. 112 §
181(A). Any license or certificate holder whose license or certificate runs for
more than two years and 185 days shall be required to complete an additional 14
hours of continuing education.
(a)
Trainee: Completion of not less than 28 hours of
instruction in Board approved courses or seminars during each renewal period,
including a Board approved USPAP Update course completed in accordance with 264
CMR 4.01(5)(e). Not more than seven hours of courses designated as elective
pursuant to
264 CMR
9.01: Course Approval by Board
may be credited toward renewal. Renewal of trainee licenses is subject
to M.G.L. c. 112, § 181.
(b)
State-licensed: Completion of not less than 28 hours
of instruction in Board approved courses or seminars during each renewal
period, including a Board approved USPAP Update course completed in accordance
with 264 CMR 4.01(5)(e). Not more than seven hours of courses designated as
elective pursuant to
264 CMR
9.01: Course Approval by Board
may be credited toward renewal.
(c)
Certified
Residential: Completion of not less than 28 hours of instruction
in Board approved courses or seminars during each renewal period, including a
Board approved USPAP Update course completed in accordance with 264 CMR
4.01(5)(e). Not more than seven hours of courses designated as elective
pursuant to
264 CMR
9.01: Course Approval by Board
may be credited toward renewal.
(d)
Certified
General: Completion of not less than 28 hours of instruction in
Board approved courses or seminars during each renewal period, including a
Board approved USPAP update course completed in accordance with 264 CMR
4.01(5)(e), and at least 14 hours in courses designated non-residential
pursuant to
264 CMR
9.01: Course Approval by
Board.
(e)
Uniform Standards of Professional Appraisal Practice (USPAP)
Requirement.
1. Each license or
certificate holder must complete a seven hour USPAP Update course within each
two year licensure cycle. All license and certificate holders shall complete a
seven hour USPAP Update course with each new edition of USPAP; and
2. A USPAP Update course is required with the
publication of each edition of USPAP by the Appraisal Standards Board of the
Appraisal Foundation.
(f) All continuing education courses must
meet the requirements of
264 CMR 9.00: Course
Approval by Board.
(g)
Continuing education credit may also be granted for teaching, program
development, authorship of textbooks, or similar activities that are determined
by the Board to be equivalent to obtaining continuing education. Continuing
education credit may only be awarded once for courses taught more than once
during a renewal cycle. Up to ½ of an individual's continuing education
requirement may be granted for participation, other than as a student, in such
appraisal educational processes and programs.
(h) Continuing education courses must be
Board approved pursuant to
264 CMR 9.00: Course
Approval by Board prior to the time the Licensee applies for licensure
renewal.
(i) Credit will only be
awarded once for courses taken more than once during a renewal cycle.
(j) Failure to complete the requisite
continuing education courses within the required time period may result in
immediate removal from the National Registry of the Appraisal Subcommittee and
summary suspension of the license or certificate in accordance with M.G.L. c.
112, § 65B and may subject the license or certificate to disciplinary
action, including but not limited to suspension, revocation, monetary fine and
other penalty as provided by law.
(k) A continuing education course may only be
used to satisfy the requirements of the renewal cycle in which it was taken and
may not be applied toward a second or subsequent renewal cycle.
