2010 Arkansas Code
Title 17 - Professions, Occupations, and Businesses
Subtitle 2 - Nonmedical Professions
Chapter 14 - Appraisers
Subchapter 2 - Arkansas Appraiser Licensing and Certification Board
§ 17-14-201 - Composition -- Membership -- Chair.

17-14-201. Composition -- Membership -- Chair.

(a) There is hereby created the Arkansas Appraiser Licensing and Certification Board, to be composed of ten (10) members as follows:

(1) (A) Seven (7) practicing appraisers, provided that at all times at least five (5) of the appraiser members of the board shall be state-certified appraisers and two (2) shall be state-licensed appraisers. Failure to maintain this qualification shall result in automatic disqualification from this board.

(B) Of the seven (7) practicing appraiser members, no more than two (2) shall reside in the same congressional district of the four (4) Arkansas congressional districts as they now exist.

(C) Additionally, the seven (7) practicing appraiser members shall be representative of the various disciplines found in the appraisal profession, including without limitation residential appraisal, commercial and industrial appraisal, forestry and timberland appraisal, rural appraisal, and any other appraisal discipline that may be affected by the Arkansas Appraiser Licensing and Certification Act, 17-14-101 et seq., 17-14-201 et seq., and 17-14-301 et seq.;

(2) One (1) board member shall be a representative of financial institutions familiar with the appraisal process;

(3) One (1) senior citizen representative; and

(4) One (1) consumer representative.

(b) (1) (A) The Governor shall appoint the members of the board and may remove a member for cause.

(B) The Governor may, at his or her discretion, request additional names to be submitted from organizations mentioned in this subchapter eligible to fill appointments to this board.

(2) (A) (i) State chapters of national appraisal organizations which are members of the Appraisal Foundation or its successor, plus the Arkansas Chapter of the Association of Consulting Foresters of America, Inc., should each submit to the Governor at least annually, on or before January 15 of each calendar year, a list of two (2) names of members of their respective organizations.

(ii) Two (2) appraiser board members may be appointed by the Governor at large.

(B) Any appraiser vacancies shall be filled from these lists with the exception of the Governor's two (2) at-large appointments.

(C) At least five (5) real estate appraiser members appointed to the board shall be members in good standing of one (1) of the Appraisal Foundation member organizations or the Association of Consulting Foresters of America, Inc., requiring qualified appraisal experience, education, and testing in order to become a designated member in addition to adherence to standards of professional practice in order to retain such a designation. The nominees must be from the Appraisal Foundation members having operating chapters headquartered within the State of Arkansas.

(D) No practicing appraisers shall be denied the opportunity to submit their names for consideration to fill either of the two (2) at-large appointments to this board based solely upon membership or lack of membership in any particular appraisal organization.

(3) The Arkansas Bankers Association, the Arkansas League of Savings Institutions, the Arkansas Association of Bank Holding Companies, the Arkansas Independent Bankers Association, the Mortgage Bankers Association of Arkansas, and the Arkansas Credit Union League should each submit a list of two (2) names, annually, on or before January 15 of each calendar year, to the Governor, and the financial member shall be appointed and the vacancy filled from the lists of names provided.

(c) (1) (A) The term of each appraiser board member shall be three (3) years.

(B) The financial member representative, the senior citizen representative, and the consumer representative shall have three-year terms, and the Governor may reappoint these positions biennially.

(2) Upon expiration of their terms, members of the board shall continue to hold office until the appointment and qualification of their successors.

(3) No person shall serve as a member of the board for more than two (2) consecutive terms.

(d) The members of the board will select a state-certified appraiser chair.

(e) Each member of the board may receive expense reimbursement and stipends in accordance with 25-16-901 et seq.