Text: SF02089 Text: SF02091 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 543B.34, Code Supplement 1995, is 1 2 amended by adding the following new subsection: 1 3 NEW SUBSECTION. 10A. Performing an appraisal in violation 1 4 of chapter 543D. 1 5 Sec. 2. Section 543D.1, Code 1995, is amended to read as 1 6 follows: 1 7 543D.1 SHORT TITLE. 1 8 This chapter shall be known and may be cited as the "Iowa 1 9VoluntaryAppraisal Standards and Appraiser Certification 1 10 Law". 1 11 Sec. 3. Section 543D.3, Code 1995, is amended to read as 1 12 follows: 1 13 543D.3 PURPOSES –VOLUNTARYREQUIRED CERTIFICATION. 1 14 The purpose of this chapter is to establish standards for 1 15 real estate appraisals and a procedure for thevoluntary1 16 certification of real estate appraisers. 1 17AExcept as otherwise provided in this chapter, a person 1 18 who is not a certified real estate appraiser under this 1 19 chaptermayshall not appraise real estate for compensationif1 20certification is not required by this chapter or by federal or1 21state law, rule, or policy. 1 22 Sec. 4. Section 543D.4, subsections 3 and 4, Code 1995, 1 23 are amended to read as follows: 1 24 3.EachA real estate appraiser member of the board 1 25appointed after January 1, 1992,must be a certified real 1 26 estate appraiser. The governor shall attempt to represent 1 27 each class of certified appraisers in making the appointments. 1 28 4. The term of each member is three years; except that, of1 29the members first appointed, two shall be appointed for two1 30years and two shall be appointed for one year. 1 31 Sec. 5. Section 543D.16, Code 1995, is amended by adding 1 32 the following new subsection: 1 33 NEW SUBSECTION. 3. A certified real estate appraiser 1 34 seeking a renewal of certification has until June 30 of the 1 35 year in which the appraiser's certificate expires to complete 2 1 the basic continuing education requirement. 2 2 Sec. 6. NEW SECTION. 543D.20 EXEMPTION FROM 2 3 APPLICABILITY OF CHAPTER – FEE PROHIBITED. 2 4 This chapter does not apply to an opinion of value provided 2 5 by an individual licensed under chapter 543B which is rendered 2 6 for a purpose other than for a federally related transaction 2 7 as defined in Title XI of the federal Financial Institutions 2 8 Reform, Recovery, and Enforcement Act of 1989, Pub. L. No. 2 9 101-73, or as defined in the United States office of 2 10 management and budget circular A-129. A listing price or sale 2 11 price based upon an opinion of value given by a person in the 2 12 person's ordinary course of business as to the price of real 2 13 estate shall not be referred to as an appraisal. The person 2 14 providing the opinion of value shall not charge a fee or 2 15 require compensation or other consideration, other than a 2 16 commission or brokerage fee related to brokerage services 2 17 rendered in connection with the sale of such real estate. 2 18 EXPLANATION 2 19 This bill amends provisions relating to the certification 2 20 of real estate appraisers. 2 21 Section 543B.34 is amended to provide that a real estate 2 22 broker or salesperson who performs an appraisal in violation 2 23 of chapter 543D may be subject to the revocation or suspension 2 24 of the broker's or salesperson's license as determined by the 2 25 real estate commission. 2 26 Section 543D.1 is amended to reflect the change from a 2 27 voluntary certification process to a requirement for 2 28 certification. 2 29 Section 543D.3 is amended to reflect the change from a 2 30 voluntary certification process to a requirement for 2 31 certification, and to establish a prohibition on noncertified 2 32 persons from appraising real estate for compensation. 2 33 Section 543D.4 is amended to require that a real estate 2 34 appraiser member of the real estate appraiser examining board 2 35 must be a certified appraiser. 3 1 Section 543D.16 is amended to provide that a certified real 3 2 estate appraiser seeking a renewal of certification has until 3 3 June 30 of the year in which the appraiser's certification 3 4 expires to complete the basic continuing education 3 5 requirement. 3 6 New section 543D.20 is created and provides that chapter 3 7 543D does not apply to an opinion of value provided by an 3 8 individual licensed under chapter 543B which is rendered for a 3 9 purpose other than for a federally related transaction as 3 10 defined in Title XI of the federal Financial Institutions 3 11 Reform, Recovery, and Enforcement Act of 1989, or as defined 3 12 in the federal office of management and budget circular A-129. 3 13 A listing price or sale price based upon an opinion given 3 14 by a person in the person's ordinary course of business as to 3 15 the price of real estate is not to be referred to as an 3 16 appraisal and no fee, compensation, or other consideration 3 17 shall be charged by the person providing the opinion other 3 18 than a commission or brokerage fee related to brokerage 3 19 services rendered in connection with the sale of the real 3 20 estate. 3 21 LSB 3641SS 76 3 22 mj/sc/14
Text: SF02089 Text: SF02091 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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