2006 Code of Virginia § 54.1-2013 - General powers of Real Estate Appraiser Board; regulations; educational requirements for licensur...

54.1-2013. General powers of Real Estate Appraiser Board; regulations;educational requirements for licensure.

The Board shall have all of the powers of a regulatory board under Chapter 2( 54.1-200 et seq.) of this title. The Board may do all things necessaryand convenient for carrying into effect the provisions of this chapter andall things required or expected of a state appraiser certifying and licensingagency under Title 11 of the Financial Institutions Reform, Recovery andEnforcement Act of 1989 (12 U.S.C. 3331 et seq.). The Board shallpromulgate necessary regulations. The Director shall have the authority topromulgate initial emergency regulations upon the enactment of this chapteras necessary to comply with applicable federal requirements, provided thatwithin twelve months from the effective date of such emergency regulations,the Board promulgates the regulations in accordance with the AdministrativeProcess Act ( 2.2-4000 et seq.).

The Board shall include in its regulations educational and experiencerequirements as conditions for licensure, provisions for the supervision ofappraiser practices, provisions for the enforcement of standards ofprofessional appraiser practice, and provisions for the disposition ofreferrals of improper appraiser conduct from any person or any federal agencyor instrumentality except that, until December 31, 1992, the Board shallissue transitional licenses to applicants who have satisfied the educationalrequirements as conditions for licensure and have passed the applicableexamination required by the Board but either lack or are not able to verifythe experience requirements imposed by the Board. Such transitionallylicensed persons must satisfy the experience requirements, within two yearsof having been issued a transitional license as a condition to remaininglicensed under this chapter. Each transitional license shall indicateclearly its transitional nature, period of validity and a nonextendibletermination date. This paragraph shall not be construed to limit the powersand authority of the Board.

The Board may set different education and experience requirements forlicensed residential real estate appraisers, certified residential realestate appraisers, and certified general real estate appraisers. Allapplicants for licensure under this chapter shall meet applicable educationaland experience requirements prior to licensure.

Applicants for licensure as a certified residential real estate appraiser ora certified general real estate appraiser shall successfully complete anexamination administered or approved by the Board prior to licensure. TheBoard may set different examination requirements for certified residentialreal estate appraisers and certified general real estate appraisers. TheBoard may require that licensed residential real estate appraiserssuccessfully complete an examination administered or approved by the Boardprior to licensure or prior to the renewal of an initial license.

All regulations established by the Board shall satisfy any minimum criteriathat are necessary in order that the federal financial institution'sregulatory agencies recognize and accept licenses for licensed residentialreal estate appraisers, certified residential real estate appraisers, andcertified general real estate appraisers issued by the Board.

(1990, c. 459; 1992, c. 68; 1993, c. 539.)