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S.F. No. 2068 - Appraiser Regulation
 
Author: Senator Bill Weber
 
Prepared By: Christopher B. Stang, Senate Counsel (651/296-0539)
 
Date: March 11, 2019



 

Section 1 establishes a definition of “appraisal review”.

Section 2 and 3 are technical updates.

Section 4 provides that this chapter of law does not prohibit a person licensed as an appraiser in another jurisdiction from performing an appraisal review in Minnesota, under specified circumstances.

Sections 5 and 6 clarify that investigations, disciplinary actions, and examination of records must be conducted in accordance with section 45.027 (general DOC enforcement statute)

Section 7 is a technical language update.

Section 8 sets compensation for Appraisal Advisory board members under section 15.059.

Section 9 makes cancellation of an appraiser’s license for failure to complete CE discretionary.

Section 10 is a language update.

Section 11 deletes more specific language related to supervision of trainee appraisers.

Section 12 provides that the requirements to obtain specified appraiser licenses are those of the Appraiser Qualifications Board of the Appraisal Foundation.

Section 13 sets forth when an examination is required to renew a license.

Section 14 allows the commissioner to hold examinations at times and places the commissioner deems reasonable.

Section 15 requires an applicant who passes the examination to obtain a license within 2 years.

Section 16 is a conforming change.

Section 17 prohibits an applicant from taking an exam if the applicant’s license has been revoked in the past 2 years.

Section 18 allows the commissioner to set examination fees equal to direct costs of holding the exam.

Section 19 prohibits the commissioner from accepting the scores of a cheating examinant.

Section 20 requires a trainee license applicant to complete a six hour course that covers the responsibilities of supervisory and trainee appraisers in addition to education required under section 12 of the bill.

Section 21 requires courses, instructions, and procedures to be approved by the commissioner. Rulemaking authority granted.

Section 22 requires a student to maintain a student tracking manual of education, experience, and other requirements.

Section 23 allows credit toward education requirements to be obtained through completion of a degree in real estate from an accredited university.

Section 24 requires reciprocity to be granted to an individual licensed and in good standing in another jurisdiction.

Section 25 denotes the scope of practice for a trainee appraiser.

Section 26 removes language related to a federally related transaction for purposes of qualifying for a temporary license to be issued.

Section 27 requires that the commissioner must determine that an appraiser has met CE requirements by reference to a publication of the Appraiser Qualifications Board.

Section 28 deletes rule-making authority of the commissioner related to CE.

Section 29 allows a licensee the right to submit for approval a CE course that has not been preapproved. A CE course approved in another jurisdiction must be approved for CE in Minnesota, unless the subject of the CE is relevant only outside Minnesota.

Section 30 cross-references general Commerce enforcement authority related to disciplinary action.

Section 31 deletes conduct related to oral reports and conflict of interest from prohibited conduct.

Section 32 deletes reference to performance of limited appraisal for classification of services.

Section 32 removes the prohibition on contingent fee appraisals.

Section 34 repeals a number of current real estate appraiser statutes that relate to subjects addressed in this bill.

Section 35 provides for an August 1, 2019 effective date.

 
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