PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 39, ISSUE 20,
FRIDAY, OCTOBER 5, 2012
Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION
Subtitle 19 COMMISSION OF REAL ESTATE APPRAISERS,
APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS - REAL ESTATE APPRAISERS
09.19.12 General Regulations
Authority: Business Occupations and Professions Article, §§ 16-101(r), 16-216 and
16-220, Annotated Code of Maryland
Notice of Proposed Action
[12-268-P]
The Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors proposes to amend
Regulation .02 under COMAR 09.19.12 General Regulations. This
action was considered at a public meeting of the Commission held on
June 12, 2012, notice of which was given in 39:10 Md. R 675 (May 18, 2012) pursuant to State Government Article,
§10-506(c) Annotated Code of Maryland.
Statement of Purpose
The purpose of this action is to establish a requirement that an
individual must hold a residential or general real estate appraiser
certificate for at least 2 years before the individual is eligible to
become a supervising appraiser. This action is being proposed to comply with the anticipated change in supervising appraiser
requirements of the Real Property Appraiser Qualification Criteria,
by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation. Under the provisions of Title XI of the Financial
Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), the AQB establishes the minimum education, experience
and examination requirements for real property appraisers. Under the
FIRREA and the recent enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, States are required to
implement appraiser certification requirements that are no less stringent than those issued by the AQB in the Real Property
Appraiser Qualification Criteria. This action is intended to enhance
the public trust by assuring that supervising appraisers, who provide a
critical role in the mentoring, training and development of future
appraisers, are experienced, competent, and qualified to supervise
trainee appraisers.
Comparison to Federal Standards
There is no corresponding federal standard to this proposed action.
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 Patti Schott, Administrator, 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
pschott@dllr.state.md.us, or fax to 410-333-6314.
Comments will be accepted through December 3, 2012. A public hearing
has not been scheduled.
Open Meeting
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 December 11,
2012, at 10:30 a.m., at 500 N. Calvert Street, Baltimore, MD 21202.
.02 Supervising Appraisers.
A. To be eligible to serve as a supervising appraiser, an individual:
(1) Shall be in good standing; [and]
(2) May not have been subject to any disciplinary action within
the immediately preceding 2 years[.]; and
(3) Shall have held a certified residential or certified general
real estate appraisal license for at least 2 years.
B. (text unchanged)
GEORGE FAIR
Chairman
Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors
|
