Fees -- Disposition of fee -- Exceptions -- Administrative regulations

(1) The board shall establish by administrative regulation the fee amounts for all fees required by this section and the fees for services provided by the board, which shall not exceed amounts necessary to generate sufficient funds to effectively carry out and enforce this chapter. The board shall establish and collect the following fees for certification or licensure as an appraiser for: (a) Federally related transactions: 1. Initial application fee; 2. Examination fee; 3. a. A biennial certificate or licensure fee; b. Duplicate certificate fee; and c. Certificate correction fee; 4. Roster fee; and 5. Returned check fee; and (b) Nonfederally related transactions: 1. A biennial certificate or licensure renewal fee; and 2. Certificate correction fee. (2) The board shall, through the promulgation of an administrative regulation, establish and collect the following fees from education providers for review and approval of prelicensure and continuing education courses offered by education providers for licensure as an appraiser: (a) Prelicensure education course review fee; and (b) Continuing education course review fee. (3) (a) All fees and charges collected by the board under this chapter shall be paid into the Real Property Appraisers Board's trust and agency account in the State Treasury. (b) All expenses incurred by the board under this chapter, including compensation to the board members and staff, shall be paid out of this account, subject to approval of the board. (c) This subsection shall not apply to the fee charged pursuant to KRS 324A.155, which is required to be included in the appraisal management company recovery fund and which shall be paid into that fund.