This rule was published in the April 1, 2012, issue (Vol. 2012, No. 7) of the Utah State Bulletin.
Commerce, Real Estate
Notice of Proposed Rule
DAR File No.: 35915
Filed: 03/06/2012 08:28:29 AM
Purpose of the rule or reason for the change:
The purpose of this amendment is to provide rules governing administrative proceedings involving appraisal management companies.
Summary of the rule or change:
This filing replicates, within the rules that govern appraisal management companies, the administrative procedures currently in place and used by the appraisal board in matters involving appraisers. The filing is intended to avoid any confusion should the board be required to adjudicate a matter involving an appraisal management company.
State statutory or constitutional authorization for this rule:
- Subsection 61-2e-402(1)
- Section 61-2e-103
Anticipated cost or savings to:
the state budget:
The proposed section is already in place as to matters involving appraisers. This filing clarifies that the board will follow the same rules in adjudicating matters involving appraisal management companies. Therefore, no impact to the state budget is anticipated.
Local government is required neither to comply with nor to enforce the proposed rules. Therefore, no fiscal impact to local government is anticipated.
These rules outline procedures that small businesses and the appraisal board must follow in administrative hearings. They do not impose fees, educational costs, or any other requirement that would represent a cost or a savings to small businesses.
persons other than small businesses, businesses, or local governmental entities:
The only person who is required to register as an appraisal management company and, therefore, be subject to these proposed rules is a business. Where no other persons are within the scope of the rules, there are no costs to any other persons.
Compliance costs for affected persons:
To comply, an affected person must adhere to certain procedural rules regarding an administrative hearing. Compliance will require a person to understand the rules and exercise care in terms of meeting deadlines and providing documents where applicable, but compliance is not expected to pose any financial burden to an affected person.
Comments by the department head on the fiscal impact the rule may have on businesses:
This filing establishes the procedures that the Division will follow in its adjudicative proceedings as permitted by the Utah Administrative Procedures Act. No fiscal impact to businesses is anticipated.
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:
HEBER M WELLS BLDG
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@example.com
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:
This rule may become effective on:
Jonathan Stewart, Director
R162. Commerce, Real Estate.
R162-2e. Appraisal Management Company
appraisal management company, conduct, registration
Date of Enactment or Last Substantive Amendment: [
June 22, 2011]
Authorizing, and Implemented or Interpreted Law: 61-2e-102;
61-2e-103; 61-2e-304; 61-2e-305
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2012/b20120401.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.