File No. 34941

This rule was published in the July 15, 2011, issue (Vol. 2011, No. 14) of the Utah State Bulletin.


Commerce, Real Estate

Rule R162-101

Authority and Definitions

Notice of Proposed Rule

(Repeal)

DAR File No.: 34941
Filed: 06/16/2011 11:44:17 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

The substantive provisions are incorporated into a new rule, R162-2g. (DAR NOTE: The proposed new rule, R162-2g, was published in the July 1, 2011, issue of the Utah State Bulletin under DAR No. 34917.)

Summary of the rule or change:

The rule is repealed in its entirety.

State statutory or constitutional authorization for this rule:

  • Subsection 61-2g-201(2)(h)

Anticipated cost or savings to:

the state budget:

The substantive provisions of this rule are incorporated into a new rule, R162-2g. No changes are proposed that are anticipated to have a fiscal impact to the state.

local governments:

Local government is not subject to the appraiser administrative rules. No fiscal impact to local government is anticipated.

small businesses:

The substantive provisions of this rule are incorporated into a new rule, R162-2g. No changes are proposed that are anticipated to have a fiscal impact on small businesses.

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

The substantive provisions of this rule are incorporated into a new rule, R162-2g. No changes are proposed that are anticipated to have a fiscal impact on affected persons.

Compliance costs for affected persons:

The rule is repealed. No compliance is required.

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

No fiscal impact to businesses is anticipated from this rule repeal as a substitute new rule containing the substance of these provisions is also proposed by the Division.

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 jjonsson@utah.gov

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:

08/15/2011

This rule may become effective on:

08/22/2011

Authorized by:

Deanna Sabey, Director

RULE TEXT

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).

101.2 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 "Affiliation" means an ongoing business association

(a) between:

(i) two individuals registered, licensed, or certified under Section 61-2b; or

(ii) an individual registered, licensed, or certified under Section 61-2b and:

(A) an appraisal entity; or

(B) a government agency;

(b) for the purpose of providing an appraisal service; and

(c) regardless of whether an employment relationship exists between the parties.

101.2.2 The acronym "AQB" stands for the Appraiser Qualifications Board of The Appraisal Foundation.

101.2.3 "Board" means the Utah Real Estate Appraiser Licensing and Certification Board.

101.2.4 "Business day" means a day other than:

(a) a Saturday;

(b) a Sunday; or

(c) a federal or state holiday.

101.2.5 "Classification" means the type of license or certification held by an appraiser.

101.2.6 "Day" means calendar day unless specified as "business day."

101.2.7 "Division" means the Division of Real Estate of the Department of Commerce.

101.2.8 "Entity" means:

(a) a corporation;

(b) a partnership;

(c) a sole proprietorship;

(d) a limited liability company;

(e) another business entity; or

(f) a subsidiary or unit of an entity described in Subsections (a) through (e).

101.2.9 "Person" means an individual or an entity.

101.2.10 "Reinstatement" means renewing a license or certification for an additional period after its expiration date has passed but prior to 12 months after the expiration date.

101.2.11 "Renewal" means extending a license or certification for an additional period upon its expiration.

101.2.12 "Trainee" means a person who is working under the direct supervision of a State-certified residential appraiser or a State-certified general appraiser to earn hours for licensure, and who meets the requirements of R162-110.

101.2.13 The acronym "USPAP" stands for The Uniform Standards of Professional Appraisal Practice published by The Appraisal Foundation.

 

KEY: real estate appraisals, definitions

Date of Enactment or Last Substantive Amendment: October 9, 2010

Notice of Continuation: April 18, 2007

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

 


Additional Information

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For questions regarding the content or application of this rule, please contact Jennie Jonsson at the above address, by phone at 801-530-6706, by FAX at 801-526-4387, or by Internet E-mail at jjonsson@utah.gov.