2006 Utah Code - 61-2b-10 (Superseded 01/01/08) — State-licensed appraiser -- Authority and qualifications.

     61-2b-10 (Superseded 01/01/08).   State-licensed appraiser -- Authority and qualifications.
     (1) A state-licensed appraiser is authorized to appraise complex and noncomplex 1-4 family residential units in this state having a transaction value permitted under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and related federal regulations.
     (2) A state-licensed appraiser is also authorized to appraise vacant or unimproved land having a transaction value permitted under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and related federal regulations that is utilized for 1-4 family purposes or for which the highest and best use is 1-4 family purposes and subdivisions for which a development analysis/appraisal is not necessary.
     (3) A state-licensed appraiser may not issue a certified appraisal report.
     (4) To qualify as a state-licensed appraiser, an applicant must:
     (a) be of good moral character;
     (b) pass the licensing examination with a satisfactory score as determined by the board;
     (c) successfully complete not less than 90 classroom hours in courses of study approved by the board that relate to:
     (i) real estate appraisal;
     (ii) the Uniform Standards of Professional Appraisal Practice; and
     (iii) ethical rules to be observed by a real estate appraiser as required by Section 61-2b-27; and
     (d) possess the minimum number of hours of experience in real property appraisal as established by rule.
     (5) The courses of study under Subsection (4)(c) shall be conducted by:
     (a) an accredited university, college, or junior college;
     (b) an approved appraisal society, institute, or association; or
     (c) such other school as the board may approve.
     (6) The board shall require and pass upon proof necessary to determine the honesty, competency, integrity, and truthfulness of each applicant.

Amended by Chapter 214, 2001 General Session