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0 chapters · 1,688 sections in this title.
59 O.S. § 858-631 License term - Continuing education requirement -
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Inactive status. A. The license term for a home inspector shall be one (1) year. The license shall expire twelve (12) months from the date of issuance. The license fee and each renewal or reactivation thereafter shall be payable in advance, which shall not be refundable. B. As a …
59 O.S. § 858-632 Criminal actions - Injunctions or restraining orders
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A. In addition to any other penalties provided by law, any individual unlicensed pursuant to the Home Inspection Licensing Act who shall willfully and knowingly violate any provision of the Home Inspection Licensing Act shall, upon conviction, be guilty of a misdemeanor punishabl…
59 O.S. § 858-633 Investigations and hearings - Good cause
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A. The Committee of Home Inspector Examiners may, upon its own motion, and shall, upon written complaint filed by any person, direct the Construction Industries Board to investigate the business activities of any home inspector. The Committee may contract for an administrative ju…
59 O.S. § 858-634 Administrative fines
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A. The Committee may impose administrative fines on any licensee licensed pursuant to the Home Inspection Licensing Act. Fines may be imposed as follows: 1. Any administrative fine imposed as a result of a violation of the Home Inspection Licensing Act or rules promulgated pursua…
59 O.S. § 858-700 Short title
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This act shall be known and may be cited as the "Oklahoma Certified Real Estate Appraisers Act". Added by Laws 1990, c. 327, § 1, emerg. eff. May 31, 1990.
59 O.S. § 858-701 Legislative intent - Purpose of act
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It is the intent of the Legislature to develop a real estate appraiser certification process which meets the federal guidelines set forth in the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. The purpose of the Oklahoma Certified Real Estate Appraisers Act …
59 O.S. § 858-702 Application of act
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A. This act shall only apply to: 1. Any appraisal or appraiser involving the following: a. a federally related transaction, b. real estate-related financial transactions of the agencies, instrumentalities, and federally recognized entities covered by the Financial Institutions Re…
59 O.S. § 858-703 Definitions
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As used in the Oklahoma Certified Real Estate Appraisers Act: 1. "Appraisal" or "real estate appraisal" means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate other than oil, gas,…
59 O.S. § 858-704 Use of term "state certified" – Injunctive
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proceedings. A. No person, other than a trainee, state licensed, state certified residential or state certified general real estate appraiser, shall assume or use that title or any title, designation, or abbreviation likely to create the impression of certification as a real esta…
59 O.S. § 858-705 Real Estate Appraiser Board - Members - Appointment -
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Qualifications - Terms - Removal - Meetings - Chairperson - Quorum. A. There is hereby established as an adjunct to the Department an independent Real Estate Appraiser Board which shall consist of seven (7) regular members and one ex officio member. The ex officio member shall be…
59 O.S. § 858-705.1 Board – Ex-officio Chairperson - Duties
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A. In addition to the seven (7) appointed members of the Board, the Insurance Commissioner shall serve as ex-officio Chairperson of the Board, voting only in case of a tie. B. As Chairperson, the Insurance Commissioner, in addition to his duties prescribed by law as Insurance Com…
59 O.S. § 858-706 Powers and duties of Board
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A. The Board shall promulgate rules and regulations to implement the provisions of the Oklahoma Certified Real Estate Appraisers Act. B. The Board shall have the following powers and duties: 1. The Real Estate Appraiser Board may employ a Director to oversee the organization and …
59 O.S. § 858-707 Powers and duties of Insurance Department
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The Insurance Department shall have the following powers and duties: 1. The Department shall provide administrative support for the Board including, but not limited to, office space, equipment and furnishings, IT support, payroll and employee benefit administration and processing…
59 O.S. § 858-708 Fees
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A. The Insurance Department shall charge and collect fees not to exceed the following: 1. Trainee Appraiser Certificate (annually) $300.00 2. State Licensed Appraiser Certificate (annually) $300.00 3. State Certified General Appraiser Certificate (annually) $300.00 4. State Certi…
59 O.S. § 858-709 Applications for certification, renewal and
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examination - Fees - Pledge of compliance with Board standards - Temporary appraisers - Consent to suits and actions. A. Applications for original certification, renewal certification and examinations shall be made in writing to the Insurance Department on forms approved by the R…
59 O.S. § 858-709A Criminal history records check
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For purposes of the Oklahoma Certified Real Estate Appraisers Act, the required criminal history records check shall include a state and national criminal history records search conducted by the Oklahoma State Bureau of Investigation that is not more than ninety (90) days old. Ea…
59 O.S. § 858-710 Classifications of certification
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A. There shall be four classes for Oklahoma certified real estate appraisers: 1. State Licensed Appraiser as defined by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation; 2. State Certified Residential Appraiser as …
59 O.S. § 858-711 Areas of knowledge required for original
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certification. A. An original certification as a state licensed, state certified residential or state certified general real estate appraiser shall not be issued to any person who has not made application with the Real Estate Appraiser Board within ninety (90) days of having demo…
59 O.S. § 858-712 Examination for certification - Prerequisites
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A. State Certified General Appraiser - As a prerequisite to taking the examination for certification as a State Certified General Appraiser, an applicant shall present satisfactory evidence to the Real Estate Appraiser Board that such applicant has successfully completed the mini…
59 O.S. § 858-713 Experience required for certification -
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Qualifications. A. An original certification as a state certified general or a state certified residential or state licensed appraiser shall not be issued to any person who does not possess the equivalent of the minimum requirements of experience promulgated by the Appraiser Qual…
59 O.S. § 858-714 Term of certificate - Expiration
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The term of a certificate issued under the authority of this act shall be three (3) years from the date of issuance. The expiration date of certificate shall appear on the certificate and no other notice of its expiration need be given to its holder. Added by Laws 1990, c. 327, §…
59 O.S. § 858-715 Nonresident applicants - Consent of service of process
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- Reciprocal license. A. Every applicant for certification pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act who is not a resident of this state shall submit, with the application for certification, an irrevocable consent that service of process upon…
59 O.S. § 858-716 Nonresident applicants from states with substantially
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equivalent certification requirements. If, in the determination by the Board, another state is deemed to have substantially equivalent certification requirements, an applicant who is certified under the laws of such other state may obtain a certificate as an Oklahoma certified re…
59 O.S. § 858-717 Denial of certificate
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A. The Board shall, in accordance with the provisions of the Oklahoma Certified Real Estate Appraisers Act relating to hearings on original certification and the requirement for such applicants to submit to a criminal history records search on and after January 1, 2015, deny the …
59 O.S. § 858-718 Address of appraiser's principal place of business -
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Notification of change - Residence addresses. A. Each trainee, state licensed, state certified residential or state certified general real estate appraiser shall advise the Real Estate Appraiser Board of the address of that appraiser's principal place of business and all other ad…
59 O.S. § 858-719 Certificate signatures and numbers
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A. A certificate issued pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act shall bear the signatures or facsimile signatures of the members of the Board and a certificate number assigned by the Board. B. Each trainee, state licensed, state certified r…
59 O.S. § 858-720 Issuance of certificate to corporation, partnership
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firm or group prohibited. A. The terms "Trainee, State Licensed, State Certified Residential or State Certified General Real Estate Appraiser" may only be used to refer to individuals who hold the license or certificate and may not be used following or immediately in connection w…
59 O.S. § 858-721 Renewal certificate - Late renewal fee
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A. To obtain a renewal certificate as a trainee, state licensed, state certified residential or state certified general real estate appraiser, the holder of a current, valid certificate shall make application and pay the prescribed fee to the Board not earlier than one hundred tw…
59 O.S. § 858-722 Continuing education requirements - Board regulations
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- Requirement for reinstatement. A. As a prerequisite to renewal of certification, a trainee, state licensed, state certified residential or state certified general real estate appraiser shall present evidence satisfactory to the Real Estate Appraiser Board of having met the cont…
59 O.S. § 858-723 Disciplinary proceedings – Penalties - Grounds - Civil
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judgment as basis - Complaints – Definitions. A. The Real Estate Appraiser Board, after notice and opportunity for a hearing, pursuant to Article II of the Administrative Procedures Act, may issue an order imposing one or more of the following penalties whenever the Board finds, …
59 O.S. § 858-724 Notice and hearing - Subpoenas and depositions
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A. Before suspending or revoking any certification, the Real Estate Appraiser Board shall notify the appraiser in writing of any charges made at least thirty (30) days prior to the date set for the hearing and shall afford the appraiser an opportunity to be heard in person or by …
59 O.S. § 858-725 Time and place of hearing - Final order of Board -
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Review. A. The hearing on the charges shall be at a time and place prescribed by the Real Estate Appraiser Board and in accordance with the provisions of the Administrative Procedures Act. B. If the Board determines that an Oklahoma certified appraiser is guilty of a violation of…
59 O.S. § 858-726 Uniform Standards of Professional Appraisal Practice -
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Compliance required. An Oklahoma certified real estate appraiser must comply with the current edition of the Uniform Standards of Professional Appraisal Practice, as promulgated by the Appraisal Standards Board of the Appraisal Foundation when involved in a federally related tran…
59 O.S. § 858-727 Employment of certified real estate appraiser -
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Compliance with Act. A client or employer may retain or employ an Oklahoma certified real estate appraiser to act as a disinterested third party in rendering an unbiased estimate of value or analysis. A client or employer may also retain or employ an Oklahoma certified real estat…
59 O.S. § 858-728 Contingent fees
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A. An Oklahoma certified real estate appraiser may not accept a fee for an appraisal assignment, as defined in the Oklahoma Certified Real Estate Appraisers Act, that is contingent upon the appraiser reporting a predetermined estimate, analysis or opinion or is contingent upon th…
59 O.S. § 858-729 Retention of records - Inspection by Board
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A. An Oklahoma certified real estate appraiser shall retain for five (5) years, originals or true copies of all written contracts engaging that appraiser's services for real property appraisal work, and all reports and supporting data assembled and formulated by the appraiser in …
59 O.S. § 858-730 Oklahoma Certified Real Estate Appraisers Revolving
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Fund. There is hereby created the "Oklahoma Certified Real Estate Appraisers Revolving Fund". The fund shall consist of all monies, other than appropriated monies, received by the Department from fees collected. The fund shall be a continuing fund not subject to fiscal year limit…
59 O.S. § 858-732 Code of ethics
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A. All persons listed in paragraph 2 of subsection A of Section 858-702 of this title must conduct all real property valuations and any real property valuation-related activity in conformance with the following: 1. An appraiser must perform ethically and competently and not engag…
59 O.S. § 858-801 Oklahoma Appraisal Management Company Regulation Act
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This act shall be known and may be cited as the “Oklahoma Appraisal Management Company Regulation Act”. Added by Laws 2010, c. 364, § 1, eff. Jan. 1, 2011.
59 O.S. § 858-802 Purpose of act
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It is the intent of the Legislature to develop a process for real estate appraisal management company registration and regulation in order to protect lenders, financial institutions, clients, consumers and the public from economic and financial harm and the potential for such har…
59 O.S. § 858-803 Definitions
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As used in the Oklahoma Appraisal Management Company Regulation Act: 1. "Affiliate" has the meaning provided in 12 U.S.C. 1841; 2. "AMC National Registry" means the registry of state- registered appraisal management companies ("AMCs") and federally- regulated AMCs maintained by t…
59 O.S. § 858-804 Application for registration
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A. It is unlawful for a person to directly or indirectly engage or to attempt to engage in business as an AMC, to directly or indirectly perform or to attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as an …
59 O.S. § 858-805 Applicability of act
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The provisions of the Oklahoma Appraisal Management Company Regulation Act shall not apply to: 1. A department or unit within a financial institution that is subject to direct regulation by an agency of the United States Government that is a member of the Federal Financial Instit…
59 O.S. § 858-806 Duration of registration
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A registration or a renewal of a registration granted by the Board pursuant to the Oklahoma Appraisal Management Company Regulation Act shall be valid for one (1) year from the date on which it is issued. Added by Laws 2010, c. 364, § 6, eff. Jan. 1, 2011.
59 O.S. § 858-807 Uniform Consent to Service of Process
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Each entity applying for registration as an AMC in this state shall complete an irrevocable Uniform Consent to Service of Process, as prescribed by the Oklahoma Real Estate Appraiser Board. Added by Laws 2010, c. 364, § 7, eff. Jan. 1, 2011.
59 O.S. § 858-808 Registration fees
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The Oklahoma Real Estate Appraiser Board shall establish the fee to be paid by each AMC seeking registration or renewal of a registration under the Oklahoma Appraisal Management Company Regulation Act. The amount of the registration and renewal fees must be the lesser of: 1. The …
59 O.S. § 858-809 Ownership of AMC applying for, holding, or renewing a
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registration. A. An AMC applying for, holding, or renewing a registration under the Oklahoma Appraisal Management Company Regulation Act shall not be owned by: 1. A person who has held a credential issued by any appraiser- credentialing jurisdiction to act as an appraiser that wa…
59 O.S. § 858-810 AMC controlling person
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A. Each AMC applying to the Oklahoma Real Estate Appraiser Board for a registration or for a renewal of a registration in this state shall designate one controlling person that shall serve as the main contact for all communication between the Board and the AMC. B. The controlling…
59 O.S. § 858-811 AMC prohibited actions
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An AMC that applies to the Oklahoma Real Estate Appraiser Board for a registration or to renew a registration to do business in this state as an AMC shall not: 1. Employ any person who has had a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser …
59 O.S. § 858-812 AMC verification that an appraiser holds a credential
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in good standing. Prior to placing an assignment with an appraiser on the appraiser panel of an AMC, the AMC shall verify that the appraiser receiving the assignment holds a credential in good standing in this state pursuant to the Oklahoma Certified Real Estate Appraisers Act an…