Text: S03304 Text: S03306 Text: S03300 - S03399 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 211 as follows: 1 2 #1. By striking everything after the enacting 1 3 clause and inserting the following: 1 4 "Section 1. Section 543B.29, unnumbered paragraph 1 5 1, Code 1997, is amended to read as follows: 1 6 A license to practice the profession of real estate 1 7 broker and salesperson may be revoked or suspended, or 1 8 a licensee may be otherwise disciplined by the 1 9 commission, when the licensee is guilty of the 1 10 following acts or offenses: 1 11 Sec. 2. Section 543B.29, Code 1997, is amended by 1 12 adding the following new subsection: 1 13 NEW SUBSECTION. 12. Noncompliance with the 1 14 appraisal requirements in chapter 543D when providing 1 15 an appraisal. 1 16 Sec. 3. Section 543B.29, unnumbered paragraph 3, 1 17 Code 1997, is amended to read as follows: 1 18 A real estate broker or salesperson who is an owner 1 19 or lessor of property or an employee of an owner or 1 20 lessor may have the broker's or salesperson's license 1 21 revoked or suspended, or may be otherwise disciplined 1 22 by the commission, for violations of this section or 1 23 section 543B.34, except subsections 4, 5, 6, and 9, 1 24 with respect to that property. 1 25 Sec. 4. Section 543D.1, Code 1997, is amended to 1 26 read as follows: 1 27 543D.1 SHORT TITLE. 1 28 This chapter shall be known and may be cited as the 1 29 "IowaVoluntaryAppraisal Standards and Appraiser 1 30 Certification Law". 1 31 Sec. 5. Section 543D.3, Code 1997, is amended to 1 32 read as follows: 1 33 543D.3 PURPOSES –VOLUNTARYCERTIFICATION. 1 34 The purpose of this chapter is to establish 1 35 standards for real estate appraisals and a procedure 1 36 for thevoluntarycertification of real estate 1 37 appraisers. 1 38A person who is not a certified real estate1 39appraiser under this chapter may appraise real estate1 40for compensation if certification is not required by1 41this chapter or by federal or state law, rule, or1 42policyExcept as otherwise provided in this chapter, 1 43 only a certified appraiser, designated broker, or 1 44 broker associate as defined in section 543B.5 may 1 45 charge a fee for conducting an appraisal. 1 46 Sec. 6. Section 543D.4, subsections 3 and 4, Code 1 47 1997, are amended to read as follows: 1 48 3.EachA real estate appraiser member of the 1 49 boardappointed after January 1, 1992,must be a 1 50 certified real estate appraiser. The governor shall 2 1 attempt to represent each class of certified 2 2 appraisers in making the appointments. 2 3 4. The term of each member is three years; except2 4that, of the members first appointed, two shall be2 5appointed for two years and two shall be appointed for2 6one year. 2 7 Sec. 7. Section 543D.16, subsection 2, Code 1997, 2 8 is amended to read as follows: 2 9 2. The basic continuing education requirement for 2 10 renewal of certification shall be the completion, 2 11during the immediately preceding termbefore June 30 2 12 of the year in which the appraiser's certificate 2 13 expires, of the number ofclassroomhours of 2 14 instruction required by the board in courses or 2 15 seminars which have received theapprovalpreapproval 2 16 of the board. Instructional hours by correspondence 2 17 and home study courses claimed by an appraiser shall 2 18 not exceed fifty percent of the required hours of 2 19 instruction necessary for renewal. 2 20 Sec. 8. NEW SECTION. 543D.20 EXCLUSIONS FROM 2 21 APPLICABILITY OF CHAPTER. 2 22 This chapter does not apply to the following: 2 23 1. An individual licensed under chapter 543B who 2 24 does not provide an appraisal, but who in the ordinary 2 25 course of business provides an opinion of value, 2 26 valuation, analysis, or a recommendation of price or 2 27 pricing of real estate in the pursuit of a listing, 2 28 when the opinion is provided to assist a potential 2 29 purchaser in developing a purchase offer or to provide 2 30 a broker's price opinion, whether or not the opinion 2 31 is provided for a fee. Providing an opinion pursuant 2 32 to this subsection is not subject to the uniform 2 33 standard of performance appraisal procedures. 2 34 2. A broker associate, or a designated broker, as 2 35 defined in section 543B.5, who renders an appraisal of 2 36 value for purposes other than federally related 2 37 transactions as defined in Title XI of the federal 2 38 Financial Institutions Reform, Recovery, and 2 39 Enforcement Act of 1989, or as defined in the United 2 40 States office of management and budget circular A-129, 2 41 as amended, or the rules or regulations adopted 2 42 pursuant to that circular. 2 43 3. a. An employee of any of the following: 2 44 (1) The federal government. 2 45 (2) The state, or any agency, department, or 2 46 political subdivision of the state. 2 47 (3) A financial institution as defined in section 2 48 535A.1, if the appraisal is associated with a loan of 2 49 less than fifty thousand dollars. 2 50 b. Notwithstanding paragraph "a", an employee of 3 1 an entity identified in paragraph "a" who also 3 2 practices as an independent real estate appraiser is 3 3 subject to this chapter and shall comply with the 3 4 requirements of this chapter prior to engaging in such 3 5 other real estate appraising. 3 6 Sec. 9. EFFECTIVE DATE. Sections 1 through 6 and 3 7 8 of this Act are effective July 1, 1998." 3 8 3 9 3 10 3 11 MICHAEL E. GRONSTAL 3 12 SF 211.202 77 3 13 mj/jj/28
Text: S03304 Text: S03306 Text: S03300 - S03399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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