Title 34 — Title 34

This article shall be known and may be cited as the “Alabama Real Estate Appraisers and Appraisal Management Company Registration and Regulation Act.” History: (Acts 1990, No. 90-639, p. 1175, §1; Act 2011-701, p. 2161, §2.)

(a) Except as provided in Section 34-27A-7, an original license as a licensed real estate appraiser shall not be issued to any person who has not demonstrated through a written examination process that he or she possesses all of the following: (1) Appropriate knowledge of technic…

(a) Certified general real property appraiser classification. As a prerequisite to taking the examination for licensure as a certified general real property appraiser, an applicant shall present evidence satisfactory to the board that he or she has successfully completed not less…

Property Appraisers. Existing appraisers who are licensed as licensed real estate appraisers (ALs) may reclassify into the registered real property appraiser classification by submitting a log of 1,000 hours. The board may select three reports for review for compliance with the U…

(a) An original certificate for any classification as a licensed real estate appraiser shall not be issued to any person who does not possess the required experience, if any, in real property appraisal supported by adequate written reports, file memoranda, or other evidence satis…

(a) Except for the initial license period, the term of a license issued under this article shall be two years expiring on September 30, 1993, and every two years thereafter. The expiration date shall appear on the license and no other notice of its expiration need be given to its…

Temporary Recognition. (a) Every applicant for licensure under this article, who is not a resident of this state, shall submit with the application an irrevocable consent that service of process to the executive director of the board as provided in Section 34-27A-7(d) (3), if, in…

(a)(1) To obtain a renewal license for any real estate appraiser classification, the holder of a current, valid license shall make application and pay the prescribed fee to the board between September 1 and September 30, and shall be delinquent after September 30. With the applic…

Address. (a) The principal place of business referred to in this article shall be located in the State of Alabama and each licensed real estate appraiser shall advise the board of the address of his or her principal place of business and all other addresses at which he or she is …

(a) A license issued under this article shall bear the signature or facsimile signature of the executive director of the board and a license number assigned by the board. (b) Each licensed real estate appraiser shall place his or her license number adjacent to or immediately belo…

(a) The term “licensed real estate appraiser” or “certified real estate appraiser” may only be used to refer to individuals who hold the license and may not be used following or immediately in connection with the name or signature of a firm, partnership, corporation, or group; or…

Reinstatement. (a) As a prerequisite to renewal of a license to appraise real estate, the licensed real estate appraiser, licensed for any classification under this article, shall present evidence satisfactory to the board of having met the continuing education requirements of th…

The following terms as used in this article shall have the following meanings: (1) APPRAISAL. The act or process of developing an opinion of value of real property; an opinion of the value of real property; of or pertaining to appraising real property and related functions such a…

Proceedings; Administrative Fines. (a) The board may investigate the actions of a licensed real property appraiser on complaint or on its own motion, and may revoke or suspend the license, levy fines as provided in subsection (c), require completion of education courses, or disci…

Representation; Subpoena and Deposition Power. (a) Before suspending or revoking any license or certification, the board shall notify the appraiser in writing of any charges made at least 20 days prior to the date set for the hearing and shall afford him or her an opportunity to …

Review as to Questions of Law. (a) The hearing on the charges shall be at a time and place prescribed by the board and in accordance with this article. (b) If the board determines that a licensed real estate appraiser is guilty of a violation of this article, it shall prepare a f…

A licensed real estate appraiser shall comply with the current Uniform Standards of Professional Appraisal Practice approved by the board except when performing an evaluation as defined in this article and in the Interagency Appraisal and Evaluation Guidelines published by the fe…

(a) A client or employer may retain or employ a licensed real estate appraiser to act as a disinterested third party in rendering an unbiased estimate of value. In either case, the appraisal and the appraisal report shall comply with this article. (b) For the purposes of this art…

A licensed real estate appraiser may not accept a fee for an appraisal assignment, as defined in Section 34-27A-24, that is contingent upon the appraiser reporting a predetermined estimate, analysis, or opinion, or is contingent upon the opinion or valuation reached, or upon the …

(a) All real property appraisers shall prepare written records of appraisal, review, and consulting assignments, including oral testimony and reports, and shall retain the records for a period of five years after preparation or at least two years after final disposition of any ju…

There is established a separate special revenue trust fund in the State Treasury to be known as the Alabama Real Estate Appraisers Board Fund. All receipts collected by the board under this article and any interest earned on funds in the fund shall be deposited in this fund and u…

The Alabama Real Estate Appraisers Board shall be an enumerated board pursuant to Sections 41-20-1 through 41-20-16, and shall be reviewed at the same time as the Alabama Real Estate Commission. History: (Acts 1990, No. 90-639, p. 1175, §30.)

Grounds for Granting or Denying License. It is the intent of the Legislature of the State of Alabama that this article fully comply with the provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L. No. 101-73, any amendments thereto and regula…

Assistance with Appraisal; Evaluations. (a) It shall be unlawful for any person, partnership, or corporation, for a fee or other valuable consideration, or with the intention or expectation of receiving or collecting a fee or valuable consideration from another, to do any of the …

There is established the Alabama Real Estate Appraisers Board. The board shall consist of nine members, one of whom shall be a qualified individual from the general public, seven of whom shall be real property appraisers, and, beginning on October 1, 2011, one of whom shall be a …

(a) The board shall act by a majority vote of its members to adopt administrative rules necessary, from time to time, to carry out this article. Rules of the board shall be adopted in compliance with the Alabama Administrative Procedure Act, Chapter 22 of Title 41. (b) The board …

(a) It is unlawful for any person or entity to engage in or attempt to engage in business as an appraisal management company, perform appraisal management services, or advertise or hold itself out as engaging in or conducting business as an appraisal management company without fi…

(a) Application for registration under this article shall be made in writing to the board on forms prescribed by the board and shall include all of the following: (1) The name of the applicant. (2) The business, physical, and email address of the applicant. (3) A telephone number…

(a) An appraisal management company applying for registration in this state may not be owned, in whole or in part, directly or indirectly, by any person who has had an appraiser license or certificate refused, denied, cancelled, surrendered in lieu of revocation, or revoked in an…

An appraisal management company applying for registration in this state shall designate one principal contact for all communication between the board and the appraisal management company. History: (Act 2011-701, p. 2161, §3.)

The board may adopt rules not inconsistent with this article which are reasonably necessary to implement, administer, and enforce this article. The requirements for an appraisal management company may be revised as necessary to comply with the Dodd-Frank Wall Street Reform and Co…

(a) The board shall establish by rule fees to be charged to an appraisal management company in an amount sufficient to sustain administration of this article. The board may also establish late filing fees and other fees deemed necessary by the board for the proper administration …

(a) The board shall issue a unique registration number to each appraisal management company and shall annually publish a list of registered appraisal management companies and their corresponding registration numbers. (b) Each appraisal management company shall include its registr…

An appraisal management company shall do all of the following: (1) Annually certify to the board, on a form prescribed by the board, that the appraisal management company verifies that any person added to the appraiser panel of the appraisal management company, for the purpose of…

(a) Before placing an assignment with an appraiser, an appraisal management company shall require that the appraiser confirm in writing or via electronic means that the appraiser receiving the assignment is a competent appraiser for the performance of the appraisal being assigned…

An appraisal management company may not remove an appraiser from an appraiser panel without: (1) Providing written notice to the appraiser of the reasons for removal. (2) Providing written notice of the nature of any alleged illegal conduct or violation of Uniform Standards of Pr…

(a) The board shall have the authority to set and regulate fees necessary for its operation as a self sustaining board which fees shall be adopted in compliance with the Alabama Administrative Procedure Act, Chapter 22 of Title 41. (b) All fees shall be paid into the Alabama Real…

(a) It is unlawful for any employee, director, officer, or agent of an appraisal management company to influence or attempt to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidati…

The board may censure, conditionally or unconditionally suspend registration, revoke registration, levy fines, or impose civil penalties not exceeding twenty-five thousand dollars ($25,000) against any appraisal management company that the board determines is attempting to or has…

(a) The board shall conduct adjudicatory proceedings for any violation of this article in accordance with the Administrative Procedure Act. Adjudicatory proceedings shall include, but not be limited to, all of the following due process protections: (1) Before censuring, suspendin…

This article does not apply to: (1) A financial institution that is regulated by a federal financial institution regulatory agency or a department, division, or unit thereof. An appraisal management company that is a wholly owned subsidiary of a financial institution may not be c…

(a) Applications for original license, renewal license, and examinations shall be made in writing to the board on forms approved by the board. (b) Appropriate fees, as fixed by the board pursuant to Section 34-27A-6, shall accompany all applications for original license, renewal …

(a) There shall be five classes of real estate appraisers licensed by the board. The classes may be revised or other classes added if necessary to conform in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L. No. 101-73 (FIRREA), and…