09.19.05 - Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors - Proposed Regulations
PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 44, ISSUE 24,
MONDAY, NOVEMBER 27, 2017
Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION
Subtitle 19 COMMISSION OF REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS — REAL ESTATE APPRAISERS
09.19.05 - Code of Ethics
Authority: Business Occupations and Professions Article, §§16-208, 16-216, 16-220, 16-302(d) and (g), and 16-503(b) and (f), Annotated Code of Maryland
Notice of Proposed Action
The Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors proposes to amend Regulation .01 under COMAR 09.19.05 Code of Ethics. This action was considered at a public meeting of the Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors on October 10, 2017, notice of which was given in 44:20 Md. R. 973 (September 29, 2017), pursuant to General Provisions Article, §3-302, Annotated Code of Maryland.
Statement of Purpose
The purpose of this action is to amend Regulation .01 under COMAR 09.19.05 to incorporate by reference the 2018-2019 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), which were enacted by the Appraisal Standards Board of the Appraisal Foundation, effective January 1, 2018, and with which licensed and certified real estate appraisers are required, by federal mandate, to comply.
Comparison to Federal Standards
There is a corresponding federal standard to this proposed action, but the proposed action is not more restrictive or stringent.
Estimate of Economic Impact
The proposed action has no economic impact.
Economic Impact on Small Businesses
The proposed action has minimal or no economic impact on small businesses.
Impact on Individuals with Disabilities
The proposed action has no impact on individuals with disabilities.
Opportunity for Public Comment
Comments may be sent to Patricia Schott, Executive Director, Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors, 500 N. Calvert Street, Baltimore, MD 21202, or call 410-230-6165, or email to email@example.com, or fax to 410-333-6314. Comments will be accepted through January 8, 2018. A public hearing has not been scheduled.
Final action on the proposal will be considered by Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors during a public meeting to be held on February 13, 2018, at 500 N. Calvert Street, Baltimore, Maryland 21202.
Editor’s Note on Incorporation by Reference
Pursuant to State Government Article, §7-207, Annotated Code of Maryland, the Uniform Standards of Professional Appraisal Practice, 2018—2019 Edition, has been declared a document generally available to the public and appropriate for incorporation by reference. For this reason, it will not be printed in the Maryland Register or the Code of Maryland Regulations (COMAR). Copies of this document are filed in special public depositories located throughout the State. A list of these depositories was published in 44:1 Md. R. 9 (January 6, 2017), and is available online at www.dsd.state.md.us. The document may also be inspected at the office of the Division of State Documents, 16 Francis Street, Annapolis, Maryland 21401.
.01 Incorporation by Reference.
A. (text unchanged)
B. Document Incorporated. Uniform Standards of Professional Appraisal Practice [2016—2017] 2018—2019 Edition (The Appraisal Foundation), including Preamble, Ethics Rule, Competency Rule, Scope of Work Rule, Jurisdictional Exception, Supplemental Standards, Definitions and Standards 1, 2, and 3 with all related Standard Rules and Statements on Appraisal Standards, is incorporated by reference.
Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors