This chapter shall be known and may be cited as the “Real Estate Appraiser and Real Estate Appraisal Management Company Classification and Regulation Act.” History. Code 1981, § 43-39A-1 , enacted by Ga. L. 1990, p. 1701, § 1; Ga. L. 1992, p. 1402, § 1; Ga. L. 2010, p. 765, § 1/HB 1050.
The board shall prescribe the form of a wall certificate to denote an individual’s appraiser classification. The board shall mail the wall certificate to the appraiser whose duty it shall be to display the wall certificate conspicuously in the appraiser’s place of business. The board shall also prepare and deliver a pocket card indicating the […]
To pay its share of the expense of the maintenance and operation of the office of the commission and the enforcement of this chapter, the board shall establish reasonable fees in accordance with Code Section 43-39A-4 and in accordance with its rule-making authority. No fee or portion of a fee required under this chapter which […]
Except as provided for in subsection (l) of Code Section 43-39A-11, all fees collected pursuant to this chapter shall be deposited by the board into the state treasury. Out of the funds thus arising shall be paid the expenses contemplated in this chapter for the administration and enforcement of this chapter. All expenditures authorized by […]
The board, through its rules and regulations, shall have the full power to regulate the issuance of appraiser classifications and registrations, to discipline appraisers and appraisal management companies in any manner permitted by this chapter, to establish qualifications for appraiser classifications and registrations consistent with this chapter, to regulate approved courses, to establish standards for […]
Appraiser classifications shall be granted only to persons who bear a good reputation for honesty, trustworthiness, integrity, and competence to transact real estate appraisal activity in such manner as to safeguard the interests of the public and only after satisfactory proof of such qualifications has been presented to the board. As used in this subsection, […]
An appraisal management company subject to state registration pursuant to Code Section 43-39A-7 shall not be registered in this state or reported to the Appraisal Management Company National Registry if such appraisal management company, in whole or in part, directly or indirectly, is owned by any person who has had an appraiser license, certificate, or […]
An appraisal panel may include appraisers who are engaged by or accepted by the appraisal management company for consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions. History. Code 1981, § 43-39A-14.2 , enacted by Ga. L. 2019, p. 724, § 7/HB 192. Effective date. […]
An appraiser shall be deemed part of an appraisal management company’s appraiser panel as of the earliest date on which the appraisal management company: Affirms acceptance of the appraiser for the appraisal management company’s consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions; or Engages […]
If the board, after an application in proper form has been filed with it, accompanied by the proper fee, shall refuse to issue an appraiser classification to such applicant, the board shall provide an opportunity for a hearing for such applicant in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act.” Unless […]
If an appraiser changes a residence or place of business address, such appraiser shall notify the board, in writing, within 30 days of such change. Nothing contained in this chapter shall be deemed to prohibit an appraiser from engaging in the practice of real estate appraisal activity as a professional corporation in accordance with the […]
After July 1, 1991, no person engaged in the business of real estate appraisal activity in Georgia or acting in the capacity of an appraiser in Georgia may bring or maintain any action in any court of this state to collect compensation for the performance of real estate appraisal activity for which an appraiser classification […]
In accordance with the hearing procedures established for contested cases by Chapter 13 of Title 50, the “Georgia Administrative Procedure Act,” whenever an appraiser classification, a school approval, or an instructor approval has been obtained by false or fraudulent representation, or whenever an appraiser, an approved school, or an approved instructor has been found guilty […]
It is the intent of the General Assembly to provide the board with disciplinary measures to use as alternatives to the sanctions provided for in subsection (a) of Code Section 43-39A-18. The citation and letter of findings provided for in this Code section shall not be construed as a disciplinary sanction. Whenever the evidence gathered […]
No appraiser who holds an appraiser classification may use any title, designation, or abbreviation likely to create the impression that such appraiser holds a different appraiser classification. No appraiser shall describe or refer to any appraisal report or any appraisal or other evaluation of real estate by a term or terms which are likely to […]
As used in this chapter, the term: “Affiliate” means any company that controls, is controlled by, or is under common control with another company. “Analysis” means a study of real estate or real property other than one estimating value. “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion prepared by an appraiser relating […]
A client or employer may retain or employ an appraiser to act as a disinterested third party in rendering an unbiased valuation or analysis. A client or employer may also retain or employ an appraiser to provide specialized services to facilitate the client’s or employer’s objectives. In either case, the appraisal and the appraisal report […]
Before the board shall impose on any appraiser or appraisal management company any sanction permitted by this chapter, it shall provide an opportunity for a hearing for such appraiser or appraisal management company in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act.” Unless otherwise agreed to by the board, all such […]
The board may, upon its own motion, and shall, upon the sworn written request of any person, investigate the actions of any appraiser, applicant, appraisal management company, or school approved by the board. Except for investigations of applicants for appraiser classifications, investigations of allegations of fraudulent conduct, or investigations of possible violations of this chapter […]
As used in this Code section, the term “conviction data” means a record of a finding or verdict of guilty or plea of guilty or plea of nolo contendere with regard to any crime, regardless of whether an appeal of the conviction has been brought, or a record of a sentencing to first offender treatment […]
