Section 339.2633 – Duties of Licensee.
339.2633 Duties of licensee. Sec. 2633. A licensee shall do all of the following: (a) Include, in any appraisal or report provided to a client, the following statement: “Appraisers are required to be licensed and are regulated by the Michigan Department of Labor and Economic Growth, P.O. Box 30018, Lansing, Michigan 48909.”. (b) Maintain an […]
Section 339.2635 – Prohibited Conduct; Penalties; Complaint.
339.2635 Prohibited conduct; penalties; complaint. Sec. 2635. (1) Except as otherwise provided in subsection (2), a licensee who does 1 or more of the following is subject to the penalties set forth in article 6: (a) Violates any of the standards for the development and communication of real property appraisals as provided in this article […]
Section 339.2636 – Sanctions Taken by Another State.
339.2636 Sanctions taken by another state. Sec. 2636. (1) A sanction against an individual licensed under this article in this state by another state or jurisdiction may be grounds for disciplinary action in this state if the offense is substantially similar to a violation of this act or rules promulgated under this act. (2) A […]
Section 339.2637 – List of Licensees; Remittance of Fee.
339.2637 List of licensees; remittance of fee. Sec. 2637. Not less than monthly, the department shall compile a list of certified general real estate appraiser, certified residential real estate appraiser, and state licensed real estate appraiser licensees under this article, provide it to the appraisal subcommittee of the federal financial institutions examination council as required […]
Section 339.2661 – Definitions.
339.2661 Definitions. Sec. 2661. As used in this act: (a) “Appraisal” means that term as defined in section 2601. (b) “Appraisal management company” means a person that provides appraisal management services. (c) “Appraisal management services” means to perform any of the following functions for a client or clients: (i) Recruiting, selecting, and retaining appraisers. (ii) […]
Section 339.2663 – Conduct Requiring License; Exceptions.
339.2663 Conduct requiring license; exceptions. Sec. 2663. (1) Except as provided in subsection (2), a person shall not do any of the following in this state without a license issued by the department under this article: (a) Directly or indirectly engage or attempt to engage in business as an appraisal management company. (b) Directly or […]
Section 339.2665 – Licensure as Appraisal Management Company; Application; Form; Information; Fee; National Registry Information and Fees.
339.2665 Licensure as appraisal management company; application; form; information; fee; national registry information and fees. Sec. 2665. (1) A person seeking licensure as an appraisal management company under this article shall submit to the department a license application, in the form prescribed by the department, that includes all of the following information: (a) The applicant’s […]
Section 339.2667 – Conditions to Licensure; Bond.
339.2667 Conditions to licensure; bond. Sec. 2667. (1) The department shall not grant a license to a person applying for a license as an appraisal management company under this article unless all of the following are met: (a) Any person that is a direct or indirect owner of the applicant has not had an appraiser […]
Section 339.2627 – Continuing Education Requirements.
339.2627 Continuing education requirements. Sec. 2627. As a condition for the renewal of licensure as a limited real estate appraiser, a certified general real estate appraiser, a certified residential real estate appraiser, or a state licensed real estate appraiser, a licensee shall complete the minimum continuing education requirements described in the AQB criteria. History: Add. […]
Section 339.2609 – Appraisal; Requirements.
339.2609 Appraisal; requirements. Sec. 2609. An appraisal shall be in writing and shall do all of the following: (a) Disclose any limitations on the type of analysis, valuation, or opinion. (b) Be independently and impartially prepared and conform to the uniform standards of professional appraisal practice and any other standards adopted by the director. (c) […]