2007 California Business and Professions Code Chapter 1. Definitions

CA Codes (bpc:11302)

11302.  For the purpose of applying this part, the following terms,
unless otherwise expressly indicated, shall mean and have the
following definitions:
   (a) "Agency" means the Business, Transportation and Housing
Agency.
   (b) "Appraisal" means a written statement independently and
impartially prepared by a qualified appraiser setting forth an
opinion in a federally related transaction as to the market value of
an adequately described property as of a specific date, supported by
the presentation and analysis of relevant market information.
   The term "appraisal" does not include an opinion given by a real
estate licensee or engineer or land surveyor in the ordinary course
of his or her business in connection with a function for which a
license is required under Chapter 7 (commencing with Section 6700) or
Chapter 15 (commencing with Section 8700) of Division 3, or Chapter
3 (commencing with Section 10130) or Chapter 7 (commencing with
Section 10500) and the opinion shall not be referred to as an
appraisal.  This part does not apply to a probate referee acting
pursuant to Sections 400 to 408, inclusive, of the Probate Code
unless the appraised transaction is federally related.
   (c) "Appraisal Foundation" means the Appraisal Foundation that was
incorporated as an Illinois not-for-profit corporation on November
30, 1987.
   (d) "Appraisal Subcommittee" means the Appraisal Subcommittee of
the Federal Financial Institutions Examination Council.
   (e) "Director" means the Director of the Office of Real Estate
Appraisers.
   (f) "Federal financial institutions regulatory agency" means the
Federal Reserve Board, Federal Deposit Insurance Corporation, Office
of the Comptroller of the Currency, Office of Thrift Supervision,
Federal Home Loan Bank System, National Credit Union Administration,
the Resolution Trust Corporation, and any other agency determined by
the director to have jurisdiction over transactions subject to this
part.
   (g) "Federally related real estate appraisal activity" means the
act or process of making or performing an appraisal on real estate or
real property in a federally related transaction and preparing an
appraisal as a result of that activity.
   (h) "Federally related transaction" means any real estate-related
financial transaction which a federal financial institutions
regulatory agency engages in, contracts for or regulates and which
requires the services of a state licensed real estate appraiser
regulated by this part.  This term also includes any transaction
identified as such by a federal financial institutions regulatory
agency.
   (i) "License" means any license, certificate, permit,
registration, or other means issued by the office authorizing the
person to whom it is issued to act pursuant to this part within this
state.
   (j) "Licensure" means the procedures and requirements a person
shall comply with in order to qualify for issuance of a license and
includes the issuance of the license.
   (k) "Office" means the Office of Real Estate Appraisers.
   (l) "Secretary" means the Secretary of the Business,
Transportation and Housing Agency.
   (m) "State licensed real estate appraiser" is a person who is
issued and holds a current valid license under this part.
   (n) "Uniform Standards of Professional Appraisal Practice" are the
standards of professional appraisal practice established by the
Appraisal Foundation.
   (o) "Course provider" means a person or entity that provides
educational courses related to professional appraisal practice.