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2017 Mississippi Code
Title 73 - Professions and Vocations
Chapter 34 - Real Estate Appraisers
Real Estate Appraiser Licensing and Certification Act
§ 73-34-45. Fees; Real Estate Appraisal License Fund
Universal Citation: MS Code § 73-34-45 (2017)
- (1) The commission shall charge and collect appropriate fees for its services under this chapter. The fees charged shall not exceed the amounts indicated below and shall be set by the board.
Application and examination..........................................$ 225.00
Application only..................................................$ 175.00
Initial and renewal license.......................................$ 325.00
Delinquent renewal penalty.............................100% of renewal fee
For each change of address.........................................$ 25.00
For each duplicate license.........................................$ 25.00
To change status as a licensee from active to inactive.............$ 25.00
For each bad check received by the commission......................$ 25.00
- (2) (a) The board shall establish the fee to be paid by each appraisal management company making application for registration under this chapter that is sufficient for the administration regulation and enforcement of the provisions of the Mississippi Appraisal Management Company Registration Act (Section 73-34-101 et seq.), but in no case shall the fee for initial registration be more than One Thousand Dollars ($ 1,000.00). However, beginning July 1, 2015, the board may increase the registration fee to an amount not to exceed One Thousand Five Hundred Dollars ($ 1,500.00) if the board finds the increase necessary for the regulation and enforcement of this chapter.
- (b) The board may establish a similar fee, not to exceed One Thousand Dollars ($ 1,000.00), for the renewal of any registration, and a delinquent renewal penalty not to exceed one hundred percent (100%) of the renewal fee. However, beginning July 1, 2015, the board may increase the renewal fee to an amount not to exceed One Thousand Five Hundred Dollars ($ 1,500.00) if the board finds the increase necessary for the regulation and enforcement of this chapter, and a delinquent renewal penalty not to exceed one hundred percent (100%) of the renewal fee.
- (3) The board may charge additional fees for its services which the board deems appropriate to carry out its intent and purpose. These additional fees shall not exceed the cost of rendering the service.
- (4) All fees charged and collected under this chapter shall be paid by the commission at least once a week, accompanied by a detailed statement thereof, to the credit of the fund known as the "Real Estate Appraisal License Fund," hereby created in the State Treasury. All monies which are collected under this chapter shall be paid into and credited to the fund for the use of the board in carrying out the provisions of this chapter including the payment of salaries and expenses, printing an annual directory of licensees, and for educational purposes. The commission shall submit a monthly statement to the board detailing any expenses which it bears as a share in the expense of administering this chapter, for which expenses it shall be reimbursed in the amount approved by the board. The commission shall prepare an annual statement of income and expenses related to its appraisal-related administrative function.
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