Oregon Administrative Rules
Chapter 161 - APPRAISER CERTIFICATION AND LICENSURE BOARD
Division 520 - REGISTRATION REQUIREMENTS
Section 161-520-0020 - Appraiser Competency
Universal Citation: OR Admin Rules 161-520-0020
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A system to verify that each appraiser on the appraisal management company's appraiser panel, shall meet the following minimum requirements:
(a) An appraisal management company shall
require that each independent contractor appraiser furnish their license or
certificate number issued by the Board under ORS
674.310;
(b) An appraisal management company shall
have a system in place to verify each independent contractor appraiser's
license or certificate renewal;
(c)
An appraisal management company shall prominently state in the
engagement/assignment document to the independent contractor appraiser that, by
the appraiser's acceptance and completion of the assignment, the appraiser
agrees and attests that they are competent to perform the appraisal
assignment;
(d) An appraisal
management company shall include the following information in an assignment to
an independent contractor appraiser, to the extent the appraisal management
company's client has communicated the information to the appraisal management
company:
(A) The geographic location of the
real property, which may include the metropolitan statistical area,
metropolitan division, area outside of a metropolitan statistical area, county,
postal code, legal description or other geographic information identifying
where the real property is situated; and
(B) The type of real property the assignment
covers.
(e) An appraisal
management company shall require that each independent contractor appraiser
completing appraisals at the request of the appraisal management company comply
with the Uniform Standards of Professional Appraisal Practice.
(2) The Board retains jurisdiction over administrative inquiries and actions involving misrepresentations made by an individual appraiser regarding competency.
Stat. Auth.: ORS 183.355, ORS 674.305(7), ORS 674.310 & 2011 OL Ch. 447
Stats. Implemented: ORS 674.310 & 2011 OL Ch. 447
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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