09.19.04 - Board for Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors - Final Regulations
FINAL ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 42, ISSUE 22,
FRIDAY, OCTOBER 30, 2015
DEPARTMENT OF LABOR, LICENSING, AND REGULATION
Subtitle 19 COMMISSION OF REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS - REAL ESTATE APPRAISERS
Notice of Final Action
On October 13, 2015, the Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors adopted:
(1) The repeal of existing Regulations .01 and .02 and new Regulations .01 and .02 under COMAR 09.19.04 Supervising Appraisers and Appraiser Trainees; and
(2) The repeal of existing Regulation .02 under COMAR 09.19.12 General Regulations.
This action, which was proposed for adoption in 42:2 Md. R. 174 (January 23, 2015), has been adopted as proposed.
Effective Date: November 9, 2015.
Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors
.01 Supervising Appraisers.
A. To be eligible to serve as a supervising appraiser, an individual:
(1) Shall be in good standing;
(2) May not have been subject to any disciplinary action within the immediately preceding 3 years; and
(3) Shall have held a certified residential or certified general real estate appraisal license for at least 3 years.
B. A supervising appraiser may supervise a maximum of three appraiser trainees at one time.
C. A supervising appraiser must complete a Commission-approved course that, at a minimum, complies with the specifications for course content established by the AQB and is oriented toward the requirements, expectations and responsibilities of supervisory appraisers.
D. A supervising appraiser shall notify the Commission on a form prescribed by the Commission of the commencement or termination of a supervisory relationship with a real estate appraiser trainee no later than 10 days after the commencement or termination.
E. A supervising appraiser shall approve, sign and accept responsibility for each appraisal report prepared by a trainee under the supervision of the supervising appraiser.
.02 Appraiser Trainees.
A. A real estate appraiser trainee shall notify the Commission on form prescribed by the Commission of the commencement or termination of a supervisory appraiser relationship with a supervising appraiser no later than 10 days after the commencement or termination.
B. To obtain experience credit for appraisals, the real estate appraiser trainee must sign the appraisal report, sign the certification of the appraisal report, or have their name and significant appraisal assistance conspicuously identified in the appraisal report.