2009 Rhode Island Code
Title 5 - Businesses and Professions
CHAPTER 5-20.7 - Real Estate Appraiser Certification Act
§ 5-20.7-8 - Classes of certification and licensing – Residential and general.

SECTION 5-20.7-8

   § 5-20.7-8  Classes of certification and licensing – Residential and general. – (a) There are two (2) classes for state certified real estate appraisers:

   (1) A state certified residential real estate appraiser is a person who fulfills the requirements for certification for the appraisal of residential real property. For the purposes of this section residential property means property which is used for noncomplex single or multi-family dwellings of 1 – 4 units having no minimum transaction value, or property used for complex 1 – 4 residential units having a transaction value of less than two hundred fifty thousand dollars ($250,000).

   (2) A state certified general real estate appraiser is a person who fulfills the requirements for certification for the appraisal of all types of real property.

   (b) A state licensed appraiser is a person who fulfills the requirements for licensing for the appraisal of residential property. For purposes of this section, residential property applies to the appraisal of noncomplex 1 – 4 residential units having a transaction value of less than one million dollars ($1,000,000) and complex 1 – 4 residential units having a transaction value of less than two hundred fifty thousand dollars ($250,000).

   (c) An individual who meets the requirements of § 5-20.7-9 shall be allowed two (2) years from the date of issue of a trainee license to complete the experience requirement, providing that the individual works directly under a certified appraiser. Upon request, the trainee shall be granted only a two (2) year extension to complete his or her experience requirement. No further extensions shall be granted. All continuing education requirements shall be fulfilled.

   (d) No certified appraiser shall supervise more than five (5) trainees.