Commerce, Real Estate

Rule R162-101

Authority and Definitions

Notice of Proposed Rule

(Amendment)

DAR File No.: 33158
Filed: 11/18/2009 08:50:46 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

These amendments update the definitions: 1) to comply with the statutory provision allowing 12 months to reinstate an expired license; 2) to comply with the Appraiser Qualification Board requirement that a trainee be supervised by a certified appraiser; 3) to complete the transition from evaluating experience points to evaluating experience hours; and 4) to correct other nonsubstantive language.

Summary of the rule or change:

The address for the Appraiser Qualification Board is removed. The reinstatement period is changed from 6 months to 12 months. The trainee definition is corrected to state that a trainee must be supervised by a certified appraiser and amended to state that trainees earn experience hours, not experience points.

State statutory or constitutional authorization for this rule:

• Sections 61-2b-20 through 61-2b-31

Anticipated cost or savings to:

the state budget:

None of the proposed changes requires the state to implement or oversee a new program or procedure. No costs are anticipated.

local governments:

Local governments are not involved in the licensing of appraisers or trainees. These rule amendments do not affect local governments.

small businesses:

These rule amendments do not impose any new fees or costs on small businesses.

persons other than small businesses, businesses, or local governmental entities:

These rule amendments do not impose any new fees or costs on affected persons.

Compliance costs for affected persons:

Affected persons will have 12 months rather than 6 months to reinstate an expired license. There are no costs associated with extending the reinstatement period. Affected appraiser trainees will document their experience in terms of hours rather than documenting both hours and points. There are no costs associated with this transition. It might save the trainees some time by simplifying their record-keeping requirements.

Comments by the department head on the fiscal impact the rule may have on businesses:

As stated in the rule summary, no fiscal impact to businesses is anticipated from this filing, which conforms the rule to recent statutory amendments and Appraiser Qualification Board requirements and makes other technical changes.

Francine A. Giani, Executive Director

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Commerce
Real Estate
160 E 300 S
SALT LAKE CITY, UT 84111-2316

Direct questions regarding this rule to:

• Jennie Jonsson at the above address, by phone at 801-530-6706, by FAX at 801-526-4387, or by Internet E-mail at [email protected]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

01/14/2010

This rule may become effective on:

01/21/2010

Authorized by:

Deanna Sabey, Director

R162. Commerce, Real Estate.

R162-101. Authority and Definitions.

R162-101-1. Authority.

101.1 The following administrative rules, applicable to the Division of Real Estate, Department of Commerce, have been established under the authority granted by Section 61-2b-6(1).

101.[1.1]2 The authority to establish and collect fees is granted by Section 61-2b-37.

101.3 The authority to exempt specific persons from complying with USPAP standards is granted by Section 61-2b-8(5)(c) within certain limitations as imposed by Section 61-2b-27(1)(c).

 

R162-101-2. Definitions.

101.2.1 AQB: the Appraiser Qualifications Board of The Appraisal Foundation[, 1029 Vermont Avenue, N.W., Suite 900, Washington, D.C. 20005].

101.2.2 Board: the Utah Real Estate Appraiser Licensing and Certification Board.

101.2.3 Classification: the type of license or certification held by an appraiser.

101.2.4 Division: the Division of Real Estate of the Department of Commerce.

101.2.5 Reinstatement: renewing a license or certification for an additional period after its expiration date has passed but prior to [six]12 months after the expiration date.

101.2.6 Renewal: extending a license or certification for an additional period upon its expiration.

101.2.7 Trainee: a person who is working under the direct supervision of a [State-licensed appraiser, a] State-certified residential appraiser[,] or a State-certified general appraiser to earn [points]hours for licensure, and who meets the requirements of [Section 105.3.3]R162-110.

101.2.8 USPAP: The Uniform Standards of Professional Appraisal Practice published by The Appraisal Foundation[, 1029 Vermont Avenue, N.W., Suite 900, Washington, D.C. 20005].

 

KEY: real estate appraisals, definitions

Date of Enactment or Last Substantive Amendment: [September 10, 2004]2010

Notice of Continuation: April 18, 2007

Authorizing, and Implemented or Interpreted Law: 61-2b-20 to 61-2b-31