Chapter 674 — Chapter 674

ORS 674.010 Definitions. For purposes of this chapter

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ORS 674.020 Purposes. The purposes of this chapter are to

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ORS 674.100 Persons engaged in real estate appraisal activity required to be certified, licensed or registered; exclusions; violations. (1)(a) A person may not engage in, carry on, advertise or purport to engage in or carry on real estate appraisal activity within this state without first obtaining certification, licensure or registration as provided for in ORS 674.310

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ORS 674.103 Consideration of energy efficient improvements. When preparing, completing or issuing an opinion about the value of real property or an interest in real property as described in ORS 674.100 (1)(b), a state licensed appraiser or state certified appraiser shall consider improvements made to the structure of any building located on the real property that make the building more energy efficient. [2013 c.383 §14]

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ORS 674.105 Authority of Appraiser Certification and Licensure Board to require fingerprints. For the purpose of requesting a state or nationwide criminal records check under ORS 181A.195, the Appraiser Certification and Licensure Board may require the fingerprints of a person who is applying for, or holds, a license, certificate or registration, or is applying for renewal of a license, certificate or registration, that is issued by the board, or of a person who

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ORS 674.120 Nonresident certificate or license recognized; criteria. The Appraiser Certification and Licensure Board shall recognize temporarily the certificate or license of an appraiser issued by another state if

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ORS 674.130 Appraisal standards for federally related transactions. Notwithstanding any other provision of law, any real estate appraisal that is performed in connection with a federally related transaction shall be in writing and shall be performed and completed in accordance with the appraisal standards established by the federal financial institution regulatory agency having jurisdiction over the federally related transaction for which the appraisal is performed. In the event of any conflict between the provisions of any other law and the appraisal standards established by the federal financial institution regulatory agency having jurisdiction, the standards established by the federal financial institution regulatory agency shall prevail. [1991 c.5 §9]

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ORS 674.140 Grounds for discipline. The Appraiser Certification and Licensure Board may suspend or revoke the certificate, license or registration of a state certified appraiser, a state licensed appraiser or a state registered appraiser assistant, reprimand a state certified appraiser, a state licensed appraiser or a state registered appraiser assistant, require additional education of a state certified appraiser, a state licensed appraiser or a state registered appraiser assistant or deny the issuance or renewal of a certificate, license or registration to an applicant if the state certified appraiser, state licensed appraiser or state registered appraiser assistant or applicant has done any of the following

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ORS 674.145 Procedures to follow before instigating disciplinary proceedings; timing of proceedings; rules. (1) As used in this section, “objective basis” means a substantial objective basis for believing that, more likely than not, a violation of ORS 674.140 has occurred and a person subject to discipline under ORS 674.140 has committed the violation

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ORS 674.150 Maintenance of appraisal records. Every state certified appraiser and every state licensed appraiser shall maintain records of all real estate appraisal activity conducted by the appraiser. The records shall at all times be open for inspection by the Appraiser Certification and Licensure Board or its duly authorized representatives. The records shall be maintained by the appraiser for a period of not less than five years after the date of completion of the appraisal to which the record pertains or for a period of not less than two years after final disposition of a judicial proceeding in which testimony relating to the records was given, whichever period expires later. [1991 c.5 §17; 1995 c.234 §1; 2001 c.332 §2]

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ORS 674.160 Reciprocal agreements with other states; procedures. (1) If the administrator of the Appraiser Certification and Licensure Board determines that the standards, qualifications and examinations for licensing, certifying or registration of real estate appraisers of another state are substantially similar to the standards, qualifications and examinations required under this chapter and the rules adopted pursuant thereto, the administrator with approval of the Appraiser Certification and Licensure Board may enter into a reciprocal agreement with such other state to issue without examination licenses or certificates upon proof of licensing or certification in such other state and upon payment of appropriate fees

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ORS 674.170 [1993 c.465 §5; repealed by 2005 c.730 §77]

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ORS 674.200 Definitions for ORS 674.200 to 674.250. As used in ORS 674.200 to 674.250

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ORS 674.205 Registration requirement; exceptions; list of registrants; renewal; rules. (1) A person may not directly or indirectly engage in or attempt to engage in business as an appraisal management company or advertise or represent that the entity is an appraisal management company unless the person is

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ORS 674.210 Surety bond. (1) An applicant for issuance or renewal of an appraisal management company registration shall file with the Appraiser Certification and Licensure Board a surety bond with one or more corporate sureties authorized to do business in this state, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, in the amount of $25,000

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ORS 674.215 Audits; rules. (1) The Appraiser Certification and Licensure Board may adopt rules establishing a procedure for auditing an appraisal management company registered under ORS 674.205 to examine the appraisal management company’s compliance with ORS 674.200 to 674.250

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ORS 674.220 Prohibited activities. (1) An appraisal management company or an employee, controlling person or agent of an appraisal management company may not

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ORS 674.225 Payment to independent contractor appraiser. Except in the case of breach of contract or substandard performance of real estate appraisal activity, an appraisal management company shall make payment to an independent contractor appraiser for the completion of an appraisal or appraisal review assignment

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ORS 674.230 Forwarding of complaints; rules. The Appraiser Certification and Licensure Board shall adopt rules requiring an appraisal management company to forward a complaint from a person with an interest in a real estate transaction for which an appraisal was arranged by the appraisal management company to the client that requested the appraisal. [2010 c.87 §7; 2011 c.447 §14]

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ORS 674.235 Denial, suspension and revocation of registration. The Appraiser Certification and Licensure Board may deny registration or renewal of registration to an appraisal management company or suspend or revoke an appraisal management company registration for a violation of ORS 674.200 to 674.250, or of rules adopted by the board. [2010 c.87 §8; 2011 c.447 §15]

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ORS 674.240 Duty to report unethical or unprofessional conduct. Any employee of an appraisal management company who has reasonable basis to believe that an appraiser has failed to comply with the Uniform Standards of Professional Appraisal Practice, is violating the law or is otherwise engaging in unethical or unprofessional conduct, shall notify the Appraiser Certification and Licensure Board if the appraiser’s conduct is likely to have a material effect on the value assigned to the real estate being appraised. [2011 c.447 §17]

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ORS 674.245 Documentation of training; rules. The Appraiser Certification and Licensure Board shall adopt rules requiring an appraisal management company to provide documentation to the board showing that the appraisal management company provides training, in accordance with rules adopted by the board, to employees of the appraisal management company who

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ORS 674.250 Fees. (1) The Appraiser Certification and Licensure Board shall collect from each appraisal management company an annual registry fee in an amount determined by the Appraisal Subcommittee as set forth in federal law

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ORS 674.305 Appraiser Certification and Licensure Board; appointment; term; compensation; conduct of business; rules. (1) The Appraiser Certification and Licensure Board is established. The board shall operate as a semi-independent state agency subject to ORS 182.456 to 182.472 for purposes of carrying out the provisions of this chapter. The board shall consist of eight members. The members shall be appointed by the Governor and must be residents of this state

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ORS 674.310 Duties and powers of board; rules. (1) The Appraiser Certification and Licensure Board shall

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ORS 674.320 Continuing authority of board. The lapsing or suspension of a certificate, license or registration by operation of law, by order of the Appraiser Certification and Licensure Board, by decision of a court of law or by the voluntary surrender of a certificate, license or registration by an appraiser or appraiser assistant does not deprive the board of jurisdiction to proceed with any investigation of or any action or disciplinary proceedings against the appraiser or appraiser assistant, or to revise or render null and void an order suspending or revoking the certificate, license or registration. [1991 c.5 §15; 2005 c.254 §7]

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ORS 674.330 Fees; rules. (1) The Appraiser Certification and Licensure Board shall collect from each state certified appraiser and each state licensed appraiser an annual registry fee as required by the federal Act and in an amount determined by the Appraisal Subcommittee

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ORS 674.340 Board funds; Federal Registry Fund. (1) All moneys, fees and charges collected or received by the Appraiser Certification and Licensure Board pursuant to ORS 674.250 and 674.330 shall be paid into the account created by the board under ORS 182.470. All moneys in the account are appropriated continuously to the board to carry out the duties that the board is charged with administering

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ORS 674.343 [2001 c.521 §1; 2003 c.14 §428; repealed by 2005 c.109 §9]

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ORS 674.346 [2001 c.521 §2; repealed by 2005 c.109 §9]

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ORS 674.349 [2001 c.521 §3; 2003 c.794 §316; repealed by 2005 c.109 §9]

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ORS 674.352 [2001 c.521 §4; repealed by 2005 c.109 §9]

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ORS 674.355 [2001 c.521 §5; repealed by 2005 c.109 §9]

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ORS 674.358 [2001 c.521 §6; 2003 c.794 §317; repealed by 2005 c.109 §9]

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ORS 674.361 [2001 c.521 §7; repealed by 2005 c.109 §9]

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ORS 674.364 [2001 c.521 §8; 2003 c.405 §9; repealed by 2005 c.109 §9]

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ORS 674.367 [2001 c.521 §9; repealed by 2005 c.109 §9]

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ORS 674.405 Adjustments to appraisal not required based on form of conveyance. A person engaging in or carrying on real estate appraisal activity shall not be required to make adjustments to otherwise comparable sales solely on the basis of the form of the conveyance. [1993 c.41 §2]

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ORS 674.410 Written report required to present testimony on appraisal. A person shall not testify or otherwise present evidence regarding an appraisal or appraisal report in a proceeding under ORS 183.413 to 183.497, a circuit court action or otherwise before a lawfully established board or commission unless the person has prepared a written report on the appraisal or appraisal report prior to presenting testimony or evidence. [1997 c.417 §7]

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ORS 674.850 Civil penalties. (1) The Appraiser Certification and Licensure Board may impose a civil penalty, not to exceed $500 for each violation, on a person who violates a provision of ORS 674.130 to 674.150 or a rule or final order of the board or a judgment made by a court upon application of the board

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ORS 674.990 Criminal penalties. (1) Violation of ORS 674.100 (1) is a Class A misdemeanor

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ORS 674.995 Civil penalties for violation of ORS 674.200 to 674.250. (1) In accordance with ORS chapter 183, the Appraiser Certification and Licensure Board may impose a civil penalty, not to exceed $15,000 for each violation, on a person who violates a provision of ORS 674.200 to 674.250 or any rule adopted by the board under ORS 674.200 to 674.250

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