2005 Illinois Code - 225 ILCS 458/ Real Estate Appraiser Licensing Act of 2002. Article 25 - Administrative Provisions (Scheduled To Be Repealed On January 1, 2012)
(225 ILCS 458/Art. 25 heading)
ARTICLE 25.
ADMINISTRATIVE PROVISIONS
(Scheduled to be repealed on January 1, 2012)
(225 ILCS 458/25‑5)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑5. Appraisal Administration Fund; surcharge. The Appraisal
Administration Fund is created as a special fund in the State Treasury. All
fees, fines, and penalties received by OBRE
under this Act shall be deposited into the Appraisal Administration Fund.
All earnings attributable to investment of funds in the Appraisal
Administration Fund shall be credited to the Appraisal Administration
Fund. Subject to appropriation, the
moneys in the Appraisal Administration Fund shall be paid
to OBRE for the expenses incurred by
OBRE and the Board in the administration of this Act. Moneys in the Appraisal Administration Fund may be transferred to the Professions Indirect Cost Fund as authorized under Section 2105‑300 of the Department of Professional Regulation Law of the Civil Administrative Code of Illinois.
Upon the completion of any audit of OBRE, as prescribed by the Illinois State
Auditing Act, which shall include an audit of the Appraisal Administration
Fund, OBRE
shall make the audit report open to inspection by any interested person.
(Source: P.A. 94‑91, eff. 7‑1‑05.)
(225 ILCS 458/25‑10)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑10.
Real Estate Appraisal Board; appointment.
(a) There is hereby created the Real Estate Appraisal Board. The Board
shall be composed of 10 persons appointed by the Governor, plus the Director of
the Real Estate Appraisal Division. Members shall be appointed to the Board
subject to the following conditions:
(1) All appointed members shall have been residents |
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and citizens of this State for at least 5 years prior to the date of appointment.
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(2) The appointed membership of the Board should
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reasonably reflect the geographic distribution of the population of the State.
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(3) Four appointed members shall have been actively
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engaged and currently licensed as State certified general real estate appraisers for a period of not less than 5 years.
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(4) Two appointed members shall have been actively
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engaged and currently licensed as State certified residential real estate appraisers for a period of not less than 5 years.
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(5) Two appointed members shall hold a valid license
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as a real estate broker for at least 10 years prior to the date of the appointment and shall hold a valid appraiser license issued under this Act or a predecessor Act for a period of at least 5 years prior to the appointment.
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(6) One appointed member shall be a representative
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of a financial institution, as evidenced by his or her employment with a financial institution.
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(7) One appointed member shall represent the
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interests of the general public. This member or his or her spouse shall not be licensed under this Act nor be employed by or have any interest in an appraisal business, real estate brokerage business, or a financial institution.
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In making appointments as
provided in paragraphs (3) and (4) of this subsection, the Governor shall
give due consideration to recommendations by members and organizations
representing the real estate appraisal industry.
In making the appointments as
provided in paragraph (5) of this subsection, the Governor shall give
due consideration to the recommendations by members and organizations
representing the real estate industry.
In making the appointment as provided
in paragraph (6) of this subsection, the Governor
shall give due consideration to the recommendations by members and
organizations representing financial institutions.
(b) The term for members of the Board shall be 4 years, except for the
initial appointees. Of the initial appointments, 4 members shall
be appointed for terms ending June 30, 2006, 3 members shall be appointed for
terms ending June 30, 2005, and 3 members shall be appointed for terms
ending June 30, 2004. No member shall serve more than 10 years in a lifetime.
Those persons serving on the Board pursuant to the Real Estate Appraiser
Licensing Act shall become members of the new Board on July 1, 2002 and
shall serve until
the Governor has made the new appointments pursuant to this Act.
(c) The Governor may terminate the appointment of a member for cause that,
in
the opinion of the Governor, reasonably justifies the termination. Cause for
termination may include, without limitation, misconduct, incapacity, neglect of
duty, or missing 4 Board meetings during any one calendar year.
(d) A majority of the Board members currently appointed shall constitute a
quorum. A vacancy in the membership of the Board shall not impair the right of
a quorum to exercise all of the rights and perform all of the duties of the
Board.
(e) The Board shall meet at least quarterly and may be convened
by the Chairperson, Co‑Chairperson, or 3 members of the Board upon 10 days
written notice.
(f) The Board shall, annually at the first meeting of the fiscal year,
elect a Chairperson and Vice‑Chairperson from its
members. The Chairperson shall preside over the meetings and shall coordinate
with the Director
in developing and distributing an agenda for each meeting. In the absence of
the Chairperson, the Co‑Chairperson shall preside over the meeting.
(g) The Director of the Real Estate Appraisal Division shall serve as
a member of the Board without vote.
(h) The Board shall advise and make recommendations to OBRE on matters of
licensing and education. OBRE shall give due consideration to all
recommendations presented by the Board.
(i) The Board shall hear and make recommendations to the Commissioner on
disciplinary matters
that require a formal evidentiary hearing. The Commissioner shall give due
consideration to the
recommendations of the Board involving discipline and questions involving
standards of professional
conduct of licensees.
(j) The Board may make recommendations to OBRE consistent with the
provisions
of this Act and for the administration and enforcement of the rules adopted
pursuant to this Act. OBRE
shall give due consideration to
the recommendations of the Board prior to adopting rules.
(k) The Board shall make recommendations to OBRE on the approval of courses
submitted to OBRE
pursuant to this Act and the rules adopted pursuant to this Act. OBRE shall
give due consideration to the
recommendations of the Board
prior to approving and licensing courses.
(l) Each voting member of the Board shall receive a per diem stipend in an
amount
to be determined by the
Commissioner. Each member shall be paid his or her necessary expenses while
engaged in the
performance of his or her duties.
(m) Members of the Board shall be immune from suit in an action based upon
any disciplinary
proceedings or other acts performed in good faith as members of the Board.
(Source: P.A. 92‑180, eff. 7‑1‑02.)
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(225 ILCS 458/25‑15)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑15.
Director of the Real Estate Appraisal Division; appointment;
duties. The
Commissioner shall appoint a Director of the Real Estate Appraisal Division for
a term of 4 years. The
Director shall hold a valid
State
certified general real estate appraiser or
State
certified residential
real estate appraiser license, which shall be surrendered to OBRE during the
term of his or her
appointment. The Director of the Real Estate Appraisal Division shall:
(1) serve as a member of the Real Estate Appraisal |
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(2) be the direct liaison between OBRE, the
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profession, and the real estate appraisal industry organizations and associations;
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(3) prepare and circulate to licensees such
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educational and informational material as OBRE deems necessary for providing guidance or assistance to licensees;
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(4) appoint necessary committees to assist in the
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performance of the functions and duties of OBRE under this Act; and
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(5) subject to the administrative approval of the
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Commissioner, supervise the Real Estate Appraisal Division.
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In appointing the Director of the Real Estate Appraisal Division, the
Commissioner shall give due
consideration to members, organizations, and associations of the real estate
appraisal industry.
(Source: P.A. 92‑180, eff. 7‑1‑02.)
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(225 ILCS 458/25‑20)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑20.
OBRE; powers and duties.
The Office of Banks and Real Estate
shall exercise the powers and duties prescribed by the Civil Administrative
Code of Illinois for the administration of licensing Acts and shall exercise
such other powers and duties as are prescribed by this Act for the
administration of this Act. OBRE may contract with third parties for services
necessary for the proper
administration of this Act, including without limitation, investigators with
the proper knowledge, training,
and skills to properly investigate complaints against real estate appraisers.
OBRE shall maintain and update a registry of the names and addresses of
all licensees and a listing of disciplinary orders issued pursuant to this Act
and shall transmit the registry, along with any national registry fees that may
be required, to the entity specified by, and in a manner consistent with, Title
XI of the federal Financial Institutions Reform, Recovery and Enforcement Act
of 1989.
(Source: P.A. 92‑180, eff. 7‑1‑02.)
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(225 ILCS 458/25‑25)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑25.
Rules.
OBRE, after considering any recommendations of the
Board, shall adopt rules that may be necessary for
administration, implementation, and enforcement of the Act.
(Source: P.A. 92‑180, eff. 7‑1‑02.)
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(225 ILCS 458/25‑30)
(Section scheduled to be repealed on January 1, 2012)
Sec. 25‑30.
Exclusive State powers and functions; municipal powers.
It
is declared to be the public policy of this State, pursuant to paragraph (h)
of Section 6 of Article VII of the Illinois
Constitution of 1970, that any power or function set forth in this Act to be
exercised by the State is an
exclusive State power or function. Such power and function shall not be
exercised concurrently, either
directly or indirectly, by any unit of local government, including home rule
units, except as otherwise
provided in this Act.
(Source: P.A. 92‑180, eff. 7‑1‑02.)
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