Section 543D.1 – Short title.

543D.1 Short title. This chapter shall be known and may be cited as the “Iowa Appraisal Standards and Appraiser Certification Law”. 89 Acts, ch 290, §1 CS89, §117B.1 C93, §543D.1 2021 Acts, ch 159, §1 Section amended

Section 543D.10 – Nonresident certification.

543D.10 Nonresident certification. 1. An applicant for certification as a real estate appraiser who is not a resident of Iowa shall submit, with the application for certification, an irrevocable consent that service of process upon the applicant may be made by delivery of the process to the secretary of state if, in an action against […]

Section 543D.11 – Certification by reciprocity.

543D.11 Certification by reciprocity. 1. If, in the determination by the board, another state is deemed to have substantially equivalent certification requirements, an applicant who is certified under the laws of the other state may obtain a certificate as a certified real estate appraiser upon terms and conditions as determined by the board. 2. The […]

Section 543D.12 – Basis for denial.

543D.12 Basis for denial. The board may deny the issuance of a certificate as a certified real estate appraiser to an applicant on any of the grounds listed in this chapter or in chapter 272C. 89 Acts, ch 290, §12 CS89, §117B.12 C93, §543D.12

Section 543D.13 – Principal place of business.

543D.13 Principal place of business. 1. Each certified real estate appraiser shall advise the board of the address of the appraiser’s principal place of business and all other addresses at which the appraiser is currently engaged in the business of preparing real estate appraisal reports. 2. When a certified real estate appraiser changes the appraiser’s […]

Section 543D.14 – Certificate.

543D.14 Certificate. A certificate issued under this chapter shall bear the signature or facsimile signature of the member or members of the board as designated by the board and a certificate number assigned by the board. 89 Acts, ch 290, §14 CS89, §117B.14 C93, §543D.14 2001 Acts, ch 49, §2

Section 543D.15 – Use of term.

543D.15 Use of term. 1. a. The title “certified real estate appraiser”, “associate real estate appraiser”, or any other like title shall only be used to refer to individuals who hold the certificate or registration, as applicable, and shall not be used in connection with or as part of the name or signature of a […]

Section 543D.16 – Continuing education.

543D.16 Continuing education. 1. As a prerequisite to renewal of a certification, a certified real estate appraiser shall present evidence satisfactory to the board of having met continuing education requirements. 2. The basic continuing education requirement for renewal of certification shall be the completion, before June 30 of the year in which the appraiser’s certificate […]

Section 543D.17 – Disciplinary proceedings.

543D.17 Disciplinary proceedings. 1. The rights of a holder of a certificate as a certified real estate appraiser may be revoked or suspended, or the holder may be otherwise disciplined in accordance with this chapter. The board may investigate the actions of a certified real estate appraiser and may revoke or suspend the rights of […]

Section 543D.18 – Standards of practice.

543D.18 Standards of practice. 1. A certified real estate appraiser shall comply with the uniform appraisal standards adopted under this chapter. The reliance of the public in general and of the financial business community in particular on sound, reliable real estate appraisal practices imposes on persons engaged in the practice of real estate appraising as […]

Section 543D.18A – Penalties for improper influence of an appraisal assignment.

543D.18A Penalties for improper influence of an appraisal assignment. 1. A mortgage lender, mortgage broker or originator, real estate broker or salesperson, client, party, appraiser, or any other person with an interest in a real estate transaction or the financing of any loan secured by real estate involving an appraisal assignment shall not improperly influence […]

Section 543D.19 – Retention of records.

543D.19 Retention of records. 1. A certified real estate appraiser shall retain for five years, originals or true copies of all written contracts engaging the appraiser’s services for real estate appraisal work and all reports and supporting data assembled and formulated for use by the appraiser or the associate appraiser in preparing the reports. 2. […]

Section 543D.2 – Definitions.

543D.2 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate. An appraisal may be classified by subject matter into either a valuation or […]

Section 543D.20 – Registration of associate real estate appraisers.

543D.20 Registration of associate real estate appraisers. 1. A person shall not assist a certified real estate appraiser in the development or reporting of an appraisal assignment that is required by this chapter, or by federal or state law, rule, or policy to be performed by a certified real estate appraiser, unless the person meets […]

Section 543D.21 – Violations — injunctions — civil penalties.

543D.21 Violations — injunctions — civil penalties. 1. If, as the result of a complaint or otherwise, the board believes that a person has engaged, or is about to engage, in an act or practice that constitutes or will constitute a violation of this chapter, the board may make application to the district court for […]

Section 543D.22 – Criminal background checks.

543D.22 Criminal background checks. 1. a. Subject to paragraphs “b” and “c”, the board may require a national criminal history check through the federal bureau of investigation for applicants for certification or registration, or for persons certified or registered under this chapter, if needed for credibility, to comply with federal law or regulation, or the […]

Section 543D.23 – Superintendent supervision and authority.

543D.23 Superintendent supervision and authority. 1. The superintendent shall supervise the board and manage the board’s budget and retained fees. The superintendent may exercise all authority conferred upon the board under this chapter and shall have access to all records and information to which the board has access. In supervising the board, the superintendent shall […]

Section 543D.3 – Purposes.

543D.3 Purposes. 1. The purpose of this chapter is to establish standards for real estate appraisals and a procedure for the mandatory certification of real estate appraisers performing appraisals for federally related transactions, the voluntary certification of real estate appraisers performing appraisals not related to federally related transactions, and the mandatory registration of associate real […]

Section 543D.4 – Iowa real estate appraiser board.

543D.4 Iowa real estate appraiser board. 1. A real estate appraiser examining board is established within the banking division of the department of commerce. The board consists of seven members, two of whom shall be public members and five of whom shall be certified real estate appraisers. 2. The governor shall appoint the members of […]

Section 543D.5 – Powers of the board.

543D.5 Powers of the board. 1. The board shall adopt rules establishing uniform appraisal standards and appraiser certification requirements and other rules necessary to administer and enforce this chapter and its responsibilities under chapter 272C, subject to the superintendent’s supervision and authority under section 543D.23. The board shall consider and may incorporate any standards required […]