Section 82B.22 — Contingent Fees.
82B.22 CONTINGENT FEES. A licensed real estate appraiser may not accept a commission for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis, or opinion, or is contingent upon the opinion, conclusion, or valuation reached, or upon the consequences resulting from the appraisal assignment. A licensed real estate appraiser who […]
Section 82B.094 — Supervision Of Trainee Real Property Appraisers.
82B.094 SUPERVISION OF TRAINEE REAL PROPERTY APPRAISERS. (a) A certified residential real property appraiser or a certified general real property appraiser, in good standing, may engage a trainee real property appraiser to assist in the performance of real estate appraisals, provided that the certified residential real property appraiser or a certified general real property appraiser: […]
Section 82B.23 — Federal Certification.
82B.23 FEDERAL CERTIFICATION. Subdivision 1. Requirement. The commissioner shall certify and transmit to the Appraisal Subcommittee established pursuant to the Federal Institutions Reform, Recovery, and Enforcement Act of 1989, Public Law 100-73, the names of those licensees who have satisfied the requirements for certification and licensure established by the Appraisal Subcommittee and to collect and […]
Section 82B.095 — Appraiser Qualification Components.
82B.095 APPRAISER QUALIFICATION COMPONENTS. Subdivision 1. [Repealed, 2013 c 135 art 3 s 23] Subd. 2. MS 2018 [Repealed, 1Sp2019 c 7 art 10 s 15] Subd. 3. Conformance to Appraisal Qualifications Board criteria. (a) The requirements to obtain a trainee real property appraiser, licensed real property appraiser, certified residential real property appraiser, or certified […]
Section 82B.24 — Private Right Of Action.
82B.24 PRIVATE RIGHT OF ACTION. Subdivision 1. Remedies. Any person injured by a violation of the standards, duties, prohibitions, or requirements of section 82B.20 or 82B.22 shall have a private right of action and the court shall award: (1) actual, incidental, and consequential damages; (2) statutory damages of no less than $1,000 nor more than […]
Section 82B.105 — Reciprocity.
82B.105 RECIPROCITY. The education, experience, and examination requirements of this chapter may be waived by the commissioner for individuals of other jurisdictions if: (1) the individual is licensed in another jurisdiction and is listed in good standing on the National Registry maintained by the Appraisal Subcommittee, and (2) the licensing requirements of that jurisdiction are […]
Section 82B.25 — Valuation Bias.
82B.25 VALUATION BIAS. Subdivision 1. Definition. For the purposes of this section, “valuation bias” means to explicitly, implicitly, or structurally select and apply data to an appraisal methodology or technique in a biased manner that harms a protected class, as defined by the Fair Housing Act of 1968, as amended. Subd. 2. Education. A real […]
Section 82B.11 — Classes Of License.
82B.11 CLASSES OF LICENSE. Subdivision 1. Generally. There are five classes of license for real estate appraisers. Subd. 2. MS 2018 [Repealed, 1Sp2019 c 7 art 10 s 15] Subd. 2a. Trainee real property appraiser. The scope of practice for a trainee real property appraiser is the appraisal of properties which a certified residential real […]
Section 82B.13 — Education Prerequisites.
82B.13 EDUCATION PREREQUISITES. Subdivision 1. Trainee real property appraiser. As a prerequisite for licensing as a trainee real property appraiser, an applicant must present evidence satisfactory to the commissioner that the person has successfully completed a six-hour course that is specifically oriented to the requirements and responsibilities of supervisory appraisers and trainee appraisers. A course […]
Section 82B.135 — Course Completion Certifications For Real Estate Appraiser License.
82B.135 COURSE COMPLETION CERTIFICATIONS FOR REAL ESTATE APPRAISER LICENSE. Subdivision 1. Submitting to commissioner. An applicant for a real estate appraiser license must submit to the commissioner, along with an application for licensure and in a manner prescribed by the commissioner, evidence that the applicant has completed all required prelicensing education coursework applicable to the […]